Sir Vassel Johnson
Sir Vassel Johnson
Sir Vassal Johnson was the first Financial Secretary of the Cayman Islands. [1] He is considered to be the father of the Cayman Island's financial services Industry
Biography
Early Life
Sir Vassak was born on January 18th, 1922 in Jamaica. He moved to Cuba with his fmaily when he was four and then eight years later, they all moved to the Cayman Islands. [1]
Career
Sir Vassal first joined the Caymanian government as a Clerical Officer and moved up the ranks.
[1] Well educated in accounting, Johnson used his knowledge to position the Cayman Islands as one of the premier offshore financial centers in the world.
[1] He served as the Cayman Islands Financial Secretary from 1965 to 1985 and then as an Executive Council member from 1984 to 1988.
In addition, he was the First Chairman on the Cayman Islands Currency Board from 1971 to 1982.
The CICB evolved into the Cayman Islands Monetory Authority, which Sir Vassal served as Director of from 1997 to 2000.
Sir Vassel also authored two books, The Cayman Islands Economic and Financial Review and As I See It: How Cayman became a Leading Financial Centre.
Death
Sir Vassal died on November 12th, 2008.
He is buried at the South Sound Community Cemetery in George Town, Cayman Islands.
Legacy
Sir Vassal is the only Caymanian ever knighted in 1994. He was also awarded an OBE in 1970 and an MBE in 1980.
Former Governor of the Cayman Islands, Stuart Jack, expressed gratitude toward him, sating that:
‘As one of the architects of modern Cayman, especially the financial industry, Sir Vassel guided the steady growth of these Islands as the first financial secretary...
His remarkable vision set the foundation for the prosperity and economic stability of these islands...
Without his input, Cayman might well have remained the islands that time forgot.’
Former CIMA Chairman and attorney Tim Ridley said of Sir Vassal:
‘He can justly be considered the most important founding grandfather and father of the financial services industry, so we all owe him a huge debt of gratitude...
It was not only through his foresight and vision that the Cayman Islands became one of the most pre-eminent offshore financial centres, but also through his calm and effective leadership that it became a reality...
He was a quiet, courteous, thoughtful, methodical and tenacious man of the highest integrity...
It was a great honour to have known and worked with him during the time he was financial secretary and subsequently an elected member of Executive Council.’
A hall at the University College of the Cayman Islands is named after Sir Vassel, as well as Fidelity’s main banking hall.