Fund governance firm dms Management has opened an office in New York. The new office, located at 1230 Avenue of the Americas, 7th Floor, Rockefeller Center, is headed by executive director Kathleen Celoria.
“Our New York office aims to fortify our existing relationships with US stakeholders, many of whom are based in New York, and to facilitate our ongoing face-to-face interactions,” Ms Celoria said. “It will help make our governance work more accessible and transparent to the funds we serve and their investors.”
In addition, the office will serve the increasing demand for institutional fund governance for onshore funds. As part of this effort, DMS has been consulting regularly with major institutional investors since the 2008 financial crisis.
“The simple truth for these investors is that many of the real life governance failures they suffered during the financial crisis were attributed to offshore funds feeding into onshore funds without proper governance. They’re now focused, correctly we believe, on a results-driven governance approach to avoid a repeat of those experiences,” said Don Seymour, DMS managing director.
Ogier announced the appointment of new managing partners in each of its Cayman Islands and British Virgin Islands offices. The firm also named a new chief executive officer in its fiduciary business in the Cayman Islands.
In the Cayman Islands, Nick Rogers, currently a partner leading Ogier Cayman’s corporate and commercial practice, has been named managing partner of Ogier Cayman’s legal business. Mr. Rogers first joined Ogier in the Cayman Islands in 2001 and, after some time with Walkers in Hong Kong and Cayman, rejoined as a partner in 2010.
Peter Cockhill, currently managing partner of Ogier Cayman’s legal business, will reassume his responsibilities as partner and head of Ogier’s global investment funds practice. He has been with Ogier since 1998.
In the British Virgin Islands, Ray Wearmouth has been named managing partner of Ogier’s BVI legal business. Mr. Wearmouth rejoined Ogier from Harneys in the BVI in 2009. Mr. Wearmouth succeeds Michael Fay.
Mr. Fay will continue to lead the BVI litigation practice and is a member of Ogier’s global litigation team.
Colin MacKay has been appointed as chief executive officer of Ogier Fiduciary Services (Cayman) Limited. Mr. MacKay, who has been a partner with the firm since 2006, is also the global head of Ogier’s fiduciary funds business, Ogier Fund Services.
In other changes at Ogier in the Cayman Islands, Chris Russell will leave the firm with effect from April 2012. He has been head of Litigation in Ogier’s Cayman office since 2005, during which time he has helped to build Ogier’s litigation team into one of the pre-eminent practices in Cayman.
International Management Services
Gary Butler has joined IMS as in-house counsel. Paul Harris, chairman of International Management Services, said Mr. Butler will be advising staff on all legal matters from questions concerning the structure of Cayman entities such as exempted limited partnerships and purpose trusts to compiling and maintaining precedents to be used in regular company management to advising IMS on its own contracts such as leases, management agreements and insurance policies.
Mr. Butler will also liaise with the IMS compliance department and give advice on any complex KYC matters. An important part of IMS’ business is the supply of corporate governance to hedge funds. Mr. Butler’s duties will also include a review of our corporate governance procedures to ensure they are in line with the current best practice.
In the past Mr. Butler worked as a senior associate with Ogier in their Business and Trust Law Group and most recently as legal manager for Close Brothers across their Jersey, Guernsey and Isle of Man offices.
Saxon Motor & General Insurance Company announced that it allows for the purchase of car insurance over the phone. The company which recently moved to a new location at Saxon Centre, 14 Saturn Close on Eastern Avenue, said it has created a street front location with a retail environment, to ensure accessibility for those who want the in-person experience. At the same time, its systems allow for purchase over the phone with the insurance certificate being delivered to the insurance buyers home or place of business.