On Wednesday, 13 March 2019 the Cayman
Islands Fund Administrators Association (“CIFAA”, or the
“Association”) held its Annual General Meeting and elected its
Executive Committee for 2019:

Chair: Tim Rossiter Harmonic Fund
Services

Vice Chair: Paul Kelly CITCO Fund
Services (Cayman Islands) Limited

Treasurer: Keith Nicholson Rawlinson &
Hunter

Secretary: Angela Mele RiskPass
AML+Compliance Ltd.

Member: Caroline Griffin State Street
(Cayman) Trust Ltd.

Member: Cary Marr International
Management Services

Member: Angela Nightingale Trinity Fund
Administration (Cayman) Limited

Member: Johann Prinsloo BNP Paribas
Bank and Trust Cayman Limited

Member: Elizabeth Tansel SMP Fund
Services Limited

Member: James Walton HedgeServ
(Cayman) Ltd.

Member: Karen Watson Maples Fund
Services (Cayman) Limited

Mr. Dan Allard of MUFG, who served as
Chair since February 2014, stepped down and has been replaced by Mr.
Tim Rossiter of Harmonic Fund Services. Mr. Allard said he was
pleased to have served as Chair of the Association for the past five
years and wished Mr. Rossiter and the next Executive Committee
members all the best for 2019.

Mr. Allard will continue as a member of
the Executive during 2019.

Mr. Rossiter said he is looking forward
to serving as Chair of the Association during this time of increased
global regulatory initiatives and believes the Cayman Islands is well
placed to continue as the premier offshore fund jurisdiction.