The Cayman Islands: From obscurity to offshore giant

From the late 80s, the fund industry started to pick up steam in the Cayman Islands. Sean Flynn, a banker with Swiss Bank Corporation – which later became UBS – said a fundamental change in the type of investments began occurring in the early 90's.

Part 3: The Transitionary 1980’s: The Cayman Islands:

Indeed,Cayman’s tax haven status and confidentiality law were seen by many as critical to the continuing success of the financial industry. Some saw nothing wrong with Cayman’s way of doing business and staunchly defended it.