New York seminar focusing on offshore finance

Private and institutional investors face a number of issues and opportunities in today’s challenging economic climate.

A forum set to take place in New York today will be looking a the situation offshore jurisdictions are now in thanks to the global financial crisis and some of the high-profile investment schemes it helped to burst open such as those involving Wall Street financier Bernard Madoff and Texas Billionaire Allen Stanford.

The invitation-only forum, Offshore Financial Markets Post Madoff, will be held at the Harvard Club of New York. Hosts Stuarts Walker Hersant Attorneys-at-Law and RBC Wealth Management say they are seeking to address widespread disenchantment with the financial services industry..

‘We felt that the timing was right for us to host a discussion about the impact of recent events on the financial services industry and in particular the potential impact of governmental and international agency proposals on private and institutional investors,’ said Jane Wareham. An international legal consultant with Cay Solutions Ltd., a Canadian affiliate company, she working with Stuarts Walker Hersant to help organise the event.

‘We have had a great response rate and expect to engage a number of influential industry figures. The event will also provide a useful platform to help communicate the facts about offshore financial services jurisdictions amidst a lot of negative perception.’

Deanna Bidwell, Managing Director of RBC Wealth Management, Royal Bank of Canada’s wealth management division, said clients are increasingly reassessing their banking and investment relationships with their service providers.

‘It has never been more important for the banking industry to review the best ways to serve and protect the interests of its clients and demonstrate its commitment to providing solutions to the issues presented by the current financial crisis,’ she said.

‘We are confident that our forum will prove very beneficial to wealthy investors and their advisors alike, and help educate them about the role of offshore financial services centres.’

Some 90 guests are expected to attend and can look forward to hearing the views of an array of financial services experts, which includes Timothy Ridley, former Chairman of the Cayman Islands Monetary Authority, and Anthony Akiwumi, Head of Litigation at Stuarts Walker Hersant Attorneys.

Other speakers include Professor Andrew P. Morriss of the Institute for Government and Public Affairs, University of Illinois, Professor Houman B. Shadab, Associate Professor of Law, New York Law School, Joseph A. Field, Senior International Partner, Withers Bergman LLP, New York and Margaret R.A. Paradis, Partner, Baker & McKenzie LLP, New York.

The hosts also hope to use the event as an opportunity to garner support for Facing Africa, a UK based charity dedicated to helping sufferers of a devastating flesh eating disease which affects children in sub-Saharan countries. Both companies have already raised considerable funds for the victims of the disease, as well as the children’s ward of George Town Hospital in Cayman.

More information about the seminar, including the event agenda and speaker biographies can be found at www.caymanseminar.ky.

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