Julius Baer has long been a major supporter of Community projects in Cayman and is pleased to support once again, the many projects of the NCVO.
This substantial donation was Julius Baer’s way of commemorating their 30th anniversary in Cayman, states a press release.
Julius Baer Group began operations in the Cayman Islands 30 years ago with the incorporation of the first legal entity, Baerbank (Overseas) Limited on Aug 7, 1974.
According to Charles Farrington, Managing Director, ‘We started life very humbly, as a managed bank represented locally by CIBC.
‘In April 1981 we set up our first offices and Chris Rowlandson became Managing Director of a two- man office in the West Wind building. By1983 we had expanded and moved into new Offices at Butterfield House. On Jan 1, 1985 we changed our name to Julius Baer Bank and Trust Company Ltd., and we began to grow in earnest having started our first mutual fund, the Liquibaer fund in 1982. By 1991 we had outgrown Butterfield House and we migrated to Kirk House where we remained for 10 years.
‘Today at our offices at Regatta Office Park, we have 27 staff working with the latest computer systems and technology, providing services that are very sophisticated. We believe that it is important to support the community in which we work and our employees live and hence our decision to mark the passage of our 30th anniversary by making this donation to the NCVO, which we selected on the basis of it being one of the more broad based charitable organisations with an established track record for making effective use of charitable monies.’
Mrs Janice Wilson, Chief Executive Officer for the National Council of Voluntary Organisations, reports that the donation is particularly welcomed at this time, as a major portion of NCVO’s 2005 operating income was lost as a result of the cancellation of last year’s major fundraiser. The Annual Telethon, held in November of each year did not take place last year because of NCVO’s sensitivity to the losses in the community in the aftermath of hurricane Ivan.
Some of NCVO’s many community projects include the Nadine Andreas Residential Foster Home, ‘Miss Nadine’s’ Pre-school, Jack & Jill Nursery, Caring Cousins Welfare Fund and the John Gray Memorial Scholarship Fund.