Business in brief

Cayman National

The Cayman AIDS Foundation received a cheque from Cayman National, which participates as a major sponsor of the upcoming “Walk with the Bands” event.

“Walk with the Bands” will become an annual fundraiser for the Cayman AIDS Foundation and aims to raise awareness and enable the community to participate in and make a contribution to assisting and supporting people living with HIV/AIDS in the Cayman Islands.

Cayman National Bank President Ormond Williams said: “We are proud to sponsor the ‘Walk with the Bands’ event as it falls in line with the bank’s commitment to education, one of the main pillars of our corporate giving. We agree with the Cayman AIDS Foundation that the event will serve as a crucial educational tool to inform the wider community about HIV/AIDS and to support people who need help.”

The Walk with the Bands event is scheduled for Saturday, May 19 starting at 4pm from the Nexus Way Parking Lot, Camana Bay. The 3 mile walk will end at the Public Beach.

Ogier Cayman

Ogier Cayman was named ‘Best Offshore Law Firm’ and placed runner up in the ‘Best Offshore Regulatory Advisory Firm’ category in the 2012 Hedgeweek Awards.

The winners of Hedgeweek’s annual awards programme are determined by votes derived from a proportion of the publication’s 40,000 subscribers, representing a cross section of fund industry participants, including individual and institutional investors, fund managers, administrators, prime brokers, custodians and advisers.

“We are extremely pleased to once again be recognised across the board for the talent, capabilities and depth of our funds practice,” said Peter Cockhill, partner at Ogier Cayman and head of Ogier’s Global Funds Practice.

JN Money Services

JN Money Services Limited, which operates the JN Money Transfer and QuikCash Money Transfer remittance brands, says it is cautiously optimistic about the outlook for remittances.

General Manager Leesa Kow noted that while outbound remittances from Cayman have contracted over the global recessionary period, there are signs that some indicators may improve.

Several proposed development projects could stimulate employment and demand in other sectors, including tourism. As the tourism and construction sectors employ a significant number of migrant workers, any upturn would be reflected in remittance growth.

In addition World Bank data shows remittances to developing countries are expected to grow at lower, but more sustainable rates of 7 to 8 per cent through 2011 to 2013. Ms Kow said JNMS is “hopeful that the economic situation in Cayman will improve, as we refine our operations to facilitate money transfers globally”.