Business in brief

BDO

BDO has become a corporate sponsor for the academic chair at the International College of the Cayman Islands. The corporate sponsorship of CI$4,500 covers a three-year period to help fund the academic chair for a full-time professor in accounting.

“BDO is excited and proud to support ICCI in the expansion of the educational opportunities available to Caymanians in the field of accounting. The training and development of local accounting expertise is vital to the continued growth of Cayman as a world-leading financial services jurisdiction and is certainly important to the future success of our firm as we enter our second decade of operations here in the Cayman Islands”, said Paul Arbo, one of the partners at BDO.

This academic chair is the first of its kind in the Cayman Islands and is the next step in broadening the business programme offerings, said International College President John Cummings.

“This new academic chair will provide students with more exposure to high quality instruction, research and the benefit of the professor’s industry experience,” Mr. 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 BDO for their three-year sponsorship commitment to the academic chair.

“Having BDO’s support has significantly boosted our fundraising efforts for the academic chair, which will be invaluable in providing the best possible opportunity for success to our business and accounting students,” Mr. Cummings said. “We just opened our new business building this fall term so that we could accommodate more students so the timing for hiring a professor coincides nicely with the expansion of the accounting and business programmes.”

Appleby

Offshore law firm Appleby has expanded its litigation and insolvency offering in Asia with the formation of a new team, based in the firm’s Hong Kong office. The team will focus on serving the offshore litigation needs of clients throughout Asia.

From early July, Appleby clients will be able to access on the ground litigation and insolvency advice and resources as Partner Eliot Simpson and Senior Associate Joanne Collett relocate to Asia to set up the new team.

Appleby Litigation and Insolvency Practice Group Head Andrew Bolton said: “Asia provides significant opportunities for the group and it is a central part of our strategy to grow the business here.

“The continued popularity of structures set up in the various jurisdictions where we operate, coupled with an increasing confidence on the part of Asia-based clients in the dispute resolution processes of those jurisdictions, have led to a marked increase in litigation and insolvency-related work from the region. Consequently, our clients need us to have a presence there.”

Appleby’s Hong Kong office Managing Partner Frances Woo said: “We are delighted that Eliot and Joanne will be joining our established and experienced teams across other practice areas in Hong Kong. Together they bring over 27 years of combined experience in commercial dispute resolution, insolvency and restructuring to our team which is dedicated to delivering the highest standards of service to our clients in Asia and worldwide.”

Eliot Simpson joined Appleby in 2008 as a partner and has since led the firm’s British Virgin Islands Litigation & Insolvency Practice Group. He has particularly wide-ranging offshore litigation experience, having practised in the Cayman Islands and Jersey as well as the British Virgin Islands. He is locally qualified in all three jurisdictions.

Joanne Collett is relocating from the Cayman Islands, where she represents clients in contentious and non-contentious insolvency and restructuring matters, and in commercial disputes. Before joining Appleby in 2010, Ms Collett practised with leading firms in Australia for five years before joining in the financial restructuring group of New York law firm Milbank Tweed Hadley & McCloy where, in addition to passing the New York Bar, she worked on a number of prominent matters, including the historic Lehman Brothers Chapter 11 bankruptcy case.

Maples and Calder

International law firm Maples and Calder has announced the appointment of four new partners in the Cayman Islands office.

Speaking on behalf of the firm’s partners, Global Managing Partner Henry Smith said, “We are very pleased to admit Christina Bodden, Jo Cunningham, Scott Macdonald and Tina Meigh as partners of the firm, each of whom has extensive knowledge and expertise in their practice areas and has shown commitment to providing excellent client service.”

Christina Bodden specialises in mutual funds, hedge funds and private equity funds and also advises on the associated corporate and commercial aspects. She joined Maples and Calder as a trainee in 2002 and upon qualifying in 2004, she joined the firm’s investment funds group.

Jo Cunningham has a broad range of hedge fund, private equity fund and investment platform clients and specialises in the establishment and operation of offshore investment funds. Ms Cunningham joined Maples and Calder in 2007.

Scott Macdonald joined Maples and Calder in 2005 and specialises in structured finance including structured fund products, derivatives, fund financing, repackagings and CLO/CDOs. Mr. Macdonald also has considerable experience in the establishment and maintenance of investment funds, the use of Segregated Portfolio Companies, CSX listings and advising on general corporate and commercial matters.

Tina Meigh specialises in structured finance transactions and has extensive experience in all aspects of banking, fund financing, derivatives and securitisations. Ms Meigh is a member of the Latin American practice group and also advises a large number of international associations and financial institutions on derivatives and issues surrounding related collateral packages in the context of insolvency in the Cayman Islands. She joined Maples and Calder in 2005.

In other news, Maples and Calder announced its support of two promising young Caymanians, who will attend the Global Young Leaders Conference this summer.

Jossannah Smith and Adrian Stewart each received a contribution of US$1,000 toward their registration and related attendance costs for the conference.

Adrian, a student of the John Gray High School, will attend the programme in Washington, DC and New York at the end of July. Adrian, a prefect and head boy of the school, boasts several scholastic and community based achievements. He is a member of several concert bands and has participated in the Key Club, as a member and president and served as vice president of his Junior Achievement company.

Jossannah boasts an equally impressive list of achievements, which include being the recipient of two Duke of Edinburgh Awards and the Rotary Youth Leadership Award. She was the vice president of human resources for her Junior Achievement company, a member of the Junior Girls National Volleyball Team and a volunteer with the Cayman Islands Red Cross and Cayman Islands Humane Society. Jossannah is a prefect at Cayman Prep & High School and will be attending the programme in China.

“Jossannah and Adrian have demonstrated a positive example to the youth of our country and we are pleased to support them as they seek to gain further knowledge and enhance their leadership abilities,” said Paul Lumsden, managing partner of Maples and Calder. “We expect to see great things as they pursue their careers and continue their contributions to our community with the added skills they will gain from this thought-provoking conference.”

The GYLC is a unique leadership development programme that brings together outstanding young people from around the world to build critical leadership skills in a global context. Offered annually, participants can attend sessions in the United States, Europe or China where they will analyse concepts surrounding communications, diplomacy, law, human rights, peace, security, economics and the role of the United Nations. Students return home from programme with a greater understanding of their roles and responsibilities as citizens and future leaders in an international community.

dms

Employees of dms Organization Ltd. spread the love on Valentine’s Day to the Cayman Islands Red Cross through a DMS Family Valentine’s Day fundraiser. The DMS Gives Back initiative and the Social Committee arranged a Valentine’s Day card exchange, a raffle for a romantic hotel weekend getaway at the Grand Caymanian Resort and a red and white dress down day.

DMS and its subsidiary companies all participated by dressing down in cupid’s colours, purchasing raffle tickets and delivering friendly cards to coworkers and friends. In total, the DMS Group raised $850 by the red and white affair.

Mindy Kimball, DMS Gives Back chairwoman commented on behalf of the DMS Gives Back Team, Social Committee and participating staff members, saying “It was a pleasure to assist the Cayman Islands Red Cross in their aims to protect human dignity by helping vulnerable people in crisis.”

Jondo Malafa Obi, director for the Cayman Islands Red Cross, said: “The Red Cross appreciates the efforts made by the DMS Gives Back committee. As the largest volunteer organisation worldwide, we always commend members of the public that take such initiatives to raise funds for our community.”

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