In a move reversing the recent trend of fund administrators leaving Cayman, Trinity Fund Administration announced in September that the company would open a presence in the Cayman Islands.
After having moved into their new offices in George Town, Trinity celebrated its arrival with a cocktail reception last Thursday.
In his address Premier Bush stated that when he was first informed of the incorporation of Trinity Fund Administration in the Cayman Islands he ‘immediately recognised the importance of this milestone’.
Sharing his impressions from recent road shows promoting Cayman internationally as a business location, Premier Bush stated: ‘Long gone are the days when we were one of the few locations of choice for financial services and inward investment.’
‘We have to show that we are ready to compete to maintain our position as a leading international financial centre,’ Mr Bush said.
‘Trinity’s commitment to the Cayman Islands is the much anticipated change our financial services sector needs,’ Mr Bush added.
John McCann, CEO of Trinity Fund Administration, echoed Mr Bush’s sentiment, saying that his company believes Cayman needed to evolve to meet the challenges that exist both onshore and offshore, but that it still is ‘the pre-eminent jurisdiction globally’.
Accentuating this point, Mr McCann referred to Cayman having a world class infrastructure, the leading advisors internationally in terms of the legal, management and audit firms, an investor friendly legal system and a pro-active government.
For these reasons Trinity was committed to expanding its business in the Cayman Islands. This includes a committed to employment, he added.
Trinity fund administration is a global boutique hedge fund solutions company that provides middle and back office services to investment funds. Trinity’s Cayman branch comes in addition to the company’s head office in Ireland and another branch in Cyprus.