RFCEO 2024 Program

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Foreword

It is with great pleasure and anticipation that I welcome you to the RF Economic Outlook, an event that stands as a beacon of foresight and opportunity in our dynamic economic landscape.

Michael Anderson President & CEO RF Group

Since its inception in 2003 as the Cayman Business Outlook, this conference has evolved into a cornerstone of strategic planning and collaboration. What began as a modest half-day luncheon has flourished into a full-day symposium, drawing over 200 participants annually. In 2014, with a renewed vision, the conference rebranded as the Cayman Economic Outlook (CEO), marking a pivotal moment in its journey. The subsequent expansion into the Bahamian market underscores our commitment to fostering regional dialogue and growth.

At RF Bank & Trust, we recognize the profound significance of this event. It serves as a vital platform for dissecting the critical business trends that shape our collective future. By convening global and local experts, we cultivate a rich tapestry of insights into the social, economic, political, and environmental factors that mold our economies. Each year, a meticulously chosen theme guides our discussions, aligning with the prevailing global forces and their implications for the Caribbean region.

Beyond the exchange of ideas and forecasts, the RF Economic Outlook offers invaluable networking opportunities and professional growth in the form of Continuing Professional Development (CPD) credits. It is our steadfast belief that by engaging with this conference, individuals are empowered to navigate the complexities of our ever-evolving landscape and prepare themselves for a prosperous future.

Furthermore, recognizing the importance of nurturing the next generation of leaders, RF Bank & Trust has partnered with local tertiary institutions to provide students with the opportunity to attend the event free of charge. It is our belief that exposing students to these discussions will empower them to contribute meaningfully to our collective future.

At RF, we believe our involvement in the RF Economic Outlook reflects our commitment to being good corporate citizens and giving back to the business community. It is a manifestation of our ethos of responsibility and stewardship, driving positive change and fostering growth in our society. Today, as we embark on this journey of exploration and enlightenment, let me extend our sincere gratitude to our sponsors, whose generous support makes this event possible. We also express our deepest appreciation to the dedicated team at RF who work tirelessly behind the scenes to orchestrate every detail, ensuring a seamless and enriching experience for all.

As we come together to be inspired and make connections, let us embrace the spirit of collaboration and innovation that defines this conference. Together, let us chart a course towards greater resilience, prosperity, and sustainability.

Thank you for your participation and welcome to the RF Economic Outlook 2024.

Event Schedule

A day teeming with economic insights

A convergence of groundbreaking ideas

8:30 AM

9:00 AM

9:15 AM

9:30 AM

10:30 AM

10:45 AM

11:45 AM

12:55 PM

2:00 PM

3:00 PM

3:15 PM

4:15 PM

5:00 PM

5:15 PM

Registration & Welcome Breakfast

Welcome Address

David Slatter, VP of Investments, RF Group

Opening Remarks

Tamara Ebanks, Chief Officer, Ministry of Investment, Innovation and Social Development.

The Amazing Potential of AI Now and In The Near Future

Kevin Surace

Coffee Break

Geopolitics in the Age of AI

Anu Bradford

Presentation

Dr. Rumman Chowdhury

Lunch Break

Rising Above the TidesDeveloping Resilient Infrastructure

Dr. James Fletcher

Coffee Break

Panel Discussion: Climate Risks and Cayman

Sailing Into Oblivion

Jerome Rand

Closing Remarks

Cocktail Reception

Sponsor Profiles

RF Bank & Trust

For over 25 years our mission has been to help our clients create and manage wealth. We pride ourselves on being industry leaders, not only in performance but also in innovation. Proof of our success is more than $2 Billion in capital raised for our corporate clients, over $1 Billion in assets under management and over $2 billion in assets under administration.

Our goal is simple - to be the premier Wealth Manager and Advisor in the communities we serve through our client-first approach. We are a regional private bank which makes us especially attuned to the unique needs of our local clientele. We consistently introduce original products carefully designed with these needs in mind. We have also cultivated key relationships with best-in-class global partners that help us deliver the gold standard in investment management solutions.

Our comprehensive and customizable solutions include:

› Mutual Funds

› Investment Management

› Investment Banking

› Group & Personal Pension Plans

› Personal Retirement Accounts

› Stock Brokerage

› Trust & Estate Planning

› Educational Investment Accounts

www.rfgroup.com

Caribbean Utilities Company, Ltd.

Caribbean Utilities Company, Ltd., known locally as “CUC”, commenced operations on May 10, 1966, as the only public electric utility in Grand Cayman, the largest of the three Cayman Islands, serving 758 customers.

The Company has consistently powered the growth of Grand Cayman’s economy, meeting the demands of rapid development for over 50 years. Today CUC serves over 29,000 customers and is considered one of the most reliable, safe and efficient power companies in the Caribbean.

CUC is publicly traded on the Toronto Stock Exchange; Fortis, Inc. of Newfoundland, Canada is the majority shareholder holding approximately 60% of the voting shares outstanding. CUC currently has over 200 employees, 90% of whom are Caymanian.

As a leader in the energy sector of Grand Cayman, CUC is pleased to be a partner in the Cayman Economic Outlook Conference, a premiere local forum with renowned international speakers, who present on diverse and interesting topics that impact the global and local economies.

Dart is a Cayman Islands-based investment company that oversees a portfolio across multiple industries, including real estate development, finance, retail, hospitality, media and entertainment.

www.dart.cky

Sponsor Profiles

Overseas Asset Management (Cayman) Limited

Founded in 1989, Overseas Asset Management (Cayman) Ltd. (“OAM”) is an independent boutique investment manager based in the Cayman Islands and regulated by the Cayman Islands Monetary Authority. OAM manages two funds, OAM Asian Recovery Fund and OAM European Value Fund (both listed on the Cayman Islands Stock Exchange), with a distinct investment philosophy and a highly focused research and investment process.

We pride ourselves on the long-term performance of our funds and aim to generate superior risk-adjusted returns for our clients, with whom we have built strong relationships, offering personalized and friendly service. OAM is 100% owned by its directors and employees who are also significant shareholders in the OAM funds, creating a strong alignment of interest with our clients.

www.oam.com.ky

eCapital

eCapital is a leading specialty finance provider for small and medium-sized businesses whose operations require rapid and reliable access to cash flow.

The company offers financial products that deliver working capital based on the quality of the customers’ underlying assets, such as receivables and inventory, equipment, real estate, and other asset types.

Proprietary and scalable technology, risk management expertise, and the ability to optimize assets for the greatest value creation all support the company’s core mission: to empower companies by accelerating their access to capital.

www.ecapital.com

Vanguard Risk Solutions

A leading insurance broker in the Cayman Islands for over 35 years providing independent and trusted advice. Vanguard Risk Solutions provides a comprehensive range of insurance solutions for both individuals and companies, including for homes, commercial and condominium buildings, construction, general and professional liability, motor, marine, health and group life insurance. With Vanguard Risk Solutions clients receive the highest standard of service from on the ground, experienced and qualified professionals. Combining local knowledge with international expertise Vanguard is the better solution for your business or your family.

www.vrscayman.com

EMPOWERING THE FUTURE

Committed to our vision of “

Empowering Cayman to be a Global Leader”

RELIABILITY

CUSTOMER SERVICE

COMMUNITY AFFORDABLE ENERGY

ENVIRONMENT

WHO ARE WE?

CARBON REDUCTION

For more than 5 decades, Caribbean Utilities Company, Ltd. (CUC) has been more than just an energy provider; we’ve been an integral part of the community fabric. Since our inception in 1966, our commitment to Grand Cayman’s growth and well-being has been unwavering. As we step into the future, we look forward to continuing to provide Grand Cayman with reliable, consistent, cleaner and affordable energy.

Speaker Profiles

Kevin is a Silicon Valley innovator, serial entrepreneur, CEO, and futurist. He was INC Magazines’ Entrepreneur of the Year, a CNBC top Innovator of the Decade, World Economic Forum Tech Pioneer, Chair of Silicon Valley Forum, Planet Forward Innovator of the Year nominee, featured for 5 years on TechTV’s Silicon Spin, and inducted into RIT’s Innovation Hall of Fame. While he has 94 worldwide patents and led pioneering work on the first cellular data smartphone (AirCommunicator), the first human-like AI virtual assistant (Portico), soundproof drywall, high R-value windows, AI-driven building management, Generative AI for QA automation, supplychain auctions, and the window/energy retrofits of the Empire State Building and NY Stock Exchange.

Anu Bradford is a professor at Columbia Law School and a leading authority on the European Union, digital economy, governance of artificial intelligence, and global economic regulation. She is a sought-after commentator on digital regulation, including the governance of artificial intelligence. Her newest book “Digital Empires: The Global Battle to Regulate Technology” was published in September 2023. The book shows how the global battle among three dominant digital powers—the United States, China, and Europe—is intensifying as they are racing to regulate tech companies, each advancing a competing vision for the digital economy while expanding its sphere of influence in the digital world.

Dr. James Fletcher

During his tenure as a minister, James Fletcher led an aggressive modernization of the energy sector with new investments in renewable energy, the establishment of a new muti-sector utility regulator, and the enactment of new energy legislation. He commissioned modern information technology centres in several under-served communities around the island and he started a program for free island-wide Wi-Fi (GINet). James Fletcher initiated major water re-development projects in the south and east coasts and the desilting of the island’s major reservoir. He developed a 311-call centre to provide the public with quicker and easier access to the public service, and established an Employee Assistance Programme to provide free, confidential counselling for public officers.

Fr. Minister for the Public Service, Information, Broadcasting, Sustainable Development, Energy, Science and Technology in Saint Lucia

Kevin Surace Silicon Valley Innovator and Leader in the Application of AI

Anu Bradford

Professor at Columbia Law School, Author and Expert on Global Economic Regulation and International Trade

Speaker Profiles

Dr. Chowdhury is the Chief Scientist of Parity Consulting, Founder and General Partner of Parity Responsible Innovation Fund, and a Responsible AI Fellow at the Berkman Klein Center for Internet & Society at Harvard University. Previously, Dr. Chowdhury was the Director of META (ML Ethics,Transparency, and Accountability) team at Twitter, leading a team of applied researchers and engineers to identify and mitigate algorithmic harms on the platform.

She serves on multiple boards, including Oxford University’s Commission on AI and Governance, the UK’s Center for Data Ethics and Governance, the University of Virginia’s Data Science Program, and Patterns, a data science journal by the publishers of Cell. She is also UN Commissioner on the Broadband Commission. She was named one of BBC’s 100 Women, recognized as one of the Bay Area’s Top 40 under 40, and a member of the British Royal Society of the Arts (RSA). She has also been named by Forbes as one of Five Who are Shaping AI.

Jerome Rand became the captain and owner of the Mighty Sparrow, Westsail 32, in late 2015. Within two years he set off on a solo non-stop circumnavigation around the world. After 271 days at sea the trip was a success and covered nearly 30,000 miles. This single adventure placed Mighty Sparrow with only a handful of small boats to complete what was once dubbed the “impossible route.”

Since then, the adventure hasn’t stopped. In the following years Jerome added another 40,000 sea miles to Sparrow with both good and not so good results. Tropical Storms, Pandemic Closures, and equipment failure have all played a role in the various voyages over the past four years. The ocean has always been Jerome’s greatest teacher. It is in this world of constant challenges that experience transforms into wisdom.

Dr. Rumman Chowdhury

Responsible AI Fellow, Harvard University and former Director of AI Ethics at Twitter

Jerome Rand

Sailor and Adventurer known for Sailing Solo Nonstop Around the World

Panelist Profiles

Reshma Ragoonath is a Trinidad born journalist. She is currently employed with the CaymanCompass where she writes and produces articles and videos for general news and specialinvestigative pieces.

She is the host of Compass social media talk show ‘The Resh Hour’ andis the producer and presenter of the Compass Cold Case Files. She is also a former newsproducer and co-anchor at the former national TV station Cayman 27. Reshma has a passionfor storytelling in all forms and enjoys writing stories that matter to the community.

During his tenure as a minister, James Fletcher led an aggressive modernization of the energy sector with new investments in renewable energy, the establishment of a new muti-sector utility regulator, and the enactment of new energy legislation. He commissioned modern information technology centres in several under-served communities around the island and he started a program for free island-wide Wi-Fi (GINet). James Fletcher initiated major water re-development projects in the south and east coasts and the desilting of the island’s major reservoir. He developed a 311-call centre to provide the public with quicker and easier access to the public service, and established an Employee Assistance Programme to provide free, confidential counselling for public officers.

Moderator

Dr. James Fletcher

Reshma Ragoonath

Panelist Profiles

Ahmed Elsheshtawy

Ahmed is the Energy and Sustainability Manager at Dart, focusing on improving energy performance and advancing sustainability goals. He is a US-licensed Professional Engineer (PE) with international experience in the consulting, utilities, and development industries. He is passionate about promoting sustainability by working on innovative solutions that balance environmental, social, and economic considerations to create sustainable value and drive positive change.

Ahmed is a certified Project Management Professional (PMP) and a certified Energy Management Professional (EMP) and has served on the board of the Cayman Society of Architects, Surveyors, and Engineers (CASE).

As Head of Blue Carbon at Invert, Chris Heider is a climate and community champion overseeing project diligence and structuring for carbon sequestration and avoidance projects that relate to coastal and marine ecosystems. As an ecosystem ecologist with a background in quantifying and designing nature-based solutions to climate change while improving social infrastructure for generational benefit, Chris has over 25 years of experience consulting for global and regional organizations, as well as numerous private sector clients.

Chris Heider

What’s Next?

After a full day of thought-provoking presentations, here are some next steps:

Get your CPD credits.

An email on how you can download your Continuing Professional Development certificate will be sent to you in the coming days.

Take the event survey.

We want your feedback on today’s event. Look out for an email requesting your participation in a short survey.

Relive the moments.

Visit the event website or our social media pages to see the event’s highlights. Feel free to like, share and comment.

Follow us.

Stay up to date on future events and other news by following us - @RFEconomicOutlook - on social media.

Keep the conversation going.

There’s no need to wait for RFEO 2024! Feel free to continue to connect with other attendees and share the insights gained throughout the day with others.