KPMG launches the Michael Austin Scholarship to support next generation of Caymanian students in financial services

KPMG in the Cayman Islands has announced the launch of the Michael Austin Scholarship, a new annual scholarship programme designed to support high-achieving Caymanian students pursuing careers in accountancy and related fields.

The Michael Austin Scholarship, which offers a student up to US$50,000 per year to support education expenses, honors Michael Austin, MBE, FCA, a pioneering figure in the Cayman Islands’ financial services profession. Mr. Austin was the founding Managing Partner of KPMG’s original office in the Cayman Islands, established in 1966, and he led the firm for 23 years, laying the foundation for its growth while championing professional excellence and integrity.

Mr. Austin’s career spans five decades of leadership, public service and community contribution, helping to shape both the professional services industry and the wider financial landscape of the Cayman Islands.

The Michael Austin Scholarship reflects Mr. Austin’s values of leadership, service and commitment to local education. The scholarship will be offered to a Caymanian student who displays strong academic achievements, a commitment to serving others in the community or at school, a robust work ethic, and strong leadership qualities. The recipient must possess an interest in pursuing an undergraduate degree overseas with intentions of a future career in accounting in the Cayman Islands. The scholarship offers up to US$50,000 per year to be used towards standard tuition, textbooks, airfare, room and board, for a maximum duration of five years.

Beyond financial assistance, the scholarship is a long-term investment in local talent and the next generation of Caymanian professionals contributing to the continued success of financial services in the Cayman Islands.

This aim reflects Mr. Austin’s influence which extended far beyond the firm, including serving as the first President of the Cayman Islands Institute of Professional Accountants, Chairman of the Cayman Islands Monetary Authority, and Chairman of the Auditors Oversight Authority. In recognition of his outstanding service, Mr. Austin was awarded an MBE by Her Majesty Queen Elizabeth II in 1990.

Speaking on the launch, Wanda Mellaneo, Managing Partner, KPMG in the Cayman Islands, said: “Michael Austin’s legacy is deeply woven into both KPMG and the Cayman Islands’ financial services community. This scholarship is not only a tribute to his extraordinary contribution over many years, but an investment in the future of our local talent and the continued strength of the accounting profession in the Cayman Islands.”

Applications for the Michael Austin Scholarship are now open. Full eligibility criteria and application details can be found on KPMG’s Graduates and Students webpage here: Scholarships - KPMG Cayman Islands