Business in brief

Cainvest

Bank Cainvest, formerly Sul America International Bank (Cayman), has implemented a modular private banking and wealth management system from International Private Banking Systems, a specialist provider of wealth management software for the private banking sector.

The bank implemented four modules from IPBS, including a banking, e-banking, investment and compliance module.

David Aboulafia, operations manager at Bank Cainvest, said, “the modules work together seamlessly and even though each part of the system is designed to meet a different functional need, it is still very easy to use. It updates both the client cash position with us, as well as our own position with the executing broker and automatically accounts for any fees or commissions taken which gives us a high rate of straight-through processing.”

“The introduction of the IPBS system will enable Bank Cainvest to apply industry best practice to the provision of transparent and efficient private banking services. By offering secure, 24×7 online access we have differentiated ourselves from other private banks,” Mr. Aboulafia said.

Appleby

Appleby (Cayman) has appointed associate Graham Stoute to its Private Client and Trusts Practice Group.

Mr. Stoute, who has served the firm’s Litigation and Insolvency Practice Group for the last two years, joins the team with immediate effect. He holds a doctorate in philosophy and a bachelor of civil law degree from Oxford University. He also graduated from Bristol University with first class honours and completed the Legal Practice Course at the Oxford Institute of Legal Practice.

As an associate with the litigation and insolvency team, he represented both corporate and private clients in commercial disputes, generally with an international element. Prior to his time with Appleby, Mr. Graham practiced at Burges Salmon LLP in the UK, working in the tax and trust departments of the firm.

Conyers Dill & Pearman

Conyers Dill & Pearman has been named Best Offshore Law Firm for Latin American Funds at the HFM Week US Hedge Fund Services Awards 2011, held at Cipriani New York in October.

An independent panel of judges selects leading firms based on business strategy, growth, new products and initiatives, customer retention, and success in dealing with regulatory challenges during 2010/11.

Alan Dickson, managing partner of Conyers’ São Paulo office, said: “Conyers has grown steadily since its establishment in São Paulo in 2009. This year, our practice has experienced steady growth. We have acted on several complex and sophisticated transactions as investors’ appetite for risk and better returns continues to increase activity in the LatAm region.”

Stepping Stones

Michelle Gibbon has joined Stepping Stones as a staffing coordinator and manages the temporary support desk. Hailing from Ottawa, Canada, she has earned her BA in human resource management from Bishop’s University in Quebec. After graduation, she gained experience as an IT recruiter for one of Canada’s largest telecommunications firms.

LIME

LIME announced it will be expanding its suite of LIME Cloud services across its 13 markets in the region.

The LIME Cloud, which is part of its managed services solutions, will be upgraded to include hosted voice, desktop video conferencing, hosted email and Web hosting, in an effort to ensure more businesses have access to the range of services available in the ‘Cloud’.

The LIME Cloud provides businesses with options ranging from built-in disaster recovery (hosted voice) to infrastructure as a service (servers in the cloud) to significant savings on the expense of capital equipment required for services, such as video conferencing.

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