Business in brief


Deloitte announced its support of the International College of the Cayman Islands’ fundraising initiative for an academic chairman to hire a full-time accounting professor, which will strengthen and expand its business programme.

Deloitte is committing to a sponsorship during a three-year period to help fund the position.

“We are pleased to support the business programme at ICCI and in particular the accounting faculty. As an organisation we are aware of how important education is to society and that education has the power to unlock potential and change individual lives. We are committed to building a skilled labour force and providing opportunities for Caymanian students which will help the Cayman Islands stay competitive in the global market,” said Deloitte Partner Stu Sybersma.

“This new academic chair will provide students with more exposure to high quality instruction, research and the benefit of the professor’s industry experience,” Dr. Cummings said. “The timing for hiring a professor couldn’t be better as we just opened our new business building for the fall term, which will enable us to accept more students into our business programmes.“

International College Dean Scott Cummings expressed his gratitude to Deloitte for its three-year sponsorship commitment to the academic chair.

“Deloitte has been incredibly generous with their professional advice and financial support,” he said.

Cayman Finance

Cayman Finance Chairman Richard Coles presented local year 9 high school student Oladapo Bailey with an iPad2, as first prize in the “Fact or Fiction” competition run by the organisation at the 2011 Cayman Chamber of Commerce Expo. In a follow-up competition at the 2012 Chamber Career Expo, Brooke Moore of Tower Marketing – which represents Cayman Finance – presented Heidi Bush with a new BlackBerry Bold 4.

Both competitions were run as part of a grassroots campaign to help dispel myths about the financial services sector among Cayman’s community.

“We were thrilled to have over 700 people enter our competition over the two events,” Mr. Coles said. “We were able to reach and educate a broad cross section of the local community, including many of Cayman’s high school and college students.”

“Much of the focus is on educating at a global level, however, moving forward Cayman Finance intends to engage in other local events to capture the minds of our local population to ensure they become our biggest advocates,” he said. “A huge part of this strengthened initiative is to cultivate more accurate perceptions of the financial services industry within our own shores.”

Student Oladapo Bailey said the competition was a fun way to learn more about an industry that makes up such an important part of Cayman’s economy.

“My friends and I thought the Cayman Finance booth was interesting and we learned some new things,” he said. “I’m really happy with my new iPad2.”

Moore Stephens Decosimo

According to the 2011 world rankings recently published by the International Accounting Bulletin, Moore Stephens International Limited is now ranked 12th in the combined list of networks and associations as its fee income increased to US$2.2 billion, a growth of 6.8 per cent. MSIL is an international association of accounting firms comprising 301 independent firms with 636 offices worldwide, including Moore Stephens Decosimo Cayman Limited in Grand Cayman.

“We are proud to be a part of one of the largest international associations of accounting firms in the world,” said Karl Jordan, director of Moore Stephens Decosimo Cayman Limited. “The added resources and expertise available to us through our association with Moore Stephens is a true benefit to our clients operating in a global environment.”

Richard Moore, chairman of Moore Stephens International Limited, said: “With a growth of nearly 7 per cent in a difficult year, there was progress in a number of areas. However, with the market changing, we need to focus on our strategic aims and make significant steps forward in the next few years.”


Friday, 16 March marks the 20th anniversary of the Annual St Patrick’s Day 5K Irish Jog, and has become one of Cayman’s largest walk/run family fun event.

Each year, the sponsors of the Irish Jog, Butterfield Bank (Cayman) Limited and Grand Cayman Beach Suites donate 100 per cent of the entry fees to a local charity. This year, the charity of choice is the Fuelling Young Minds Programme, a privately subsidised programme providing meals to qualifying Caymanian students in government schools.

Sean Collins, managing director of Mise en Place, which started the programme, said: “We are very excited that the Fuelling Young Minds initiative was the chosen benefactor for donations raised at the Irish Jog. This will help achieve our goal of providing every student in the four government schools that we cater for a balanced healthy lunch each day. As administrators of the programme Mise en Place will also contribute $1 for every $5 raised, so we can see great potential in being a part of this event.”

Butterfield’s Rebecca Ebanks said, “The Irish Jog is a unique family experience and has become Cayman’s most popular fun walk/run for charity. The Fuelling Young Minds Programme addresses the essential need of our students at its most basic level and is truly an inspiring endeavour. We are very pleased to be able to assist them this year as the Jog’s charity.”

Appleby Trust

The Cayman Islands Red Cross received $1,000 from Appleby Trust to help fund its mission to protect vulnerable people in crisis.

“The Red Cross is a dynamic organisation that assists communities prepare for and respond to personal and national disasters,” said Managing Director of Appleby Trust Richard McMillan. “We are more than familiar with the impact of tropical cyclones and the Red Cross team disseminates life-saving information throughout the year so our community is fully prepared in the event of an impending storm,” he said.

The Red Cross is the world’s leading crisis response organisation. Its local office in George Town is run by a five-person team and a group of dedicated volunteers.