Business in brief

Saxon

 

With prize money totalling US$4,500 and after more than six
months of intense competition, 50 students, teachers, parents and VIPs attended
the Saxon Investment Competition awards held at George Town Library on 23 March
as Saxon announced the 2012 prize winners.

The Saxon Investment Competition provided the opportunity
for 14 to 19-year-old students from John Gray High School, Cayman Prep &
High School, St. Ignatius Catholic School, ICCI and Cayman Brac High School to
gain hands-on experience in the world of investing by maintaining a virtual
portfolio with stocks traded in the US markets. This in turn required them to
research the companies that they had chosen for their group’s portfolio.

The $2,500 first place went to Twenehminets and the $1,500
second place prize to PWG2 both of Cayman Prep & High School. The $500
third place prize went to International College of the Cayman Islands.

On hand to celebrate in the successes of the students, as
well as recognise the hard work and determination demonstrated during the
course of the competition by all students, were the Minister of Education
Rolston Anglin, as well as guest speaker Don Seymour, founder of DMS.

Each team began the competition with $100,000 in their
hypothetical portfolio and chose stocks based collectively on its interests or
research. At the close of the competition, Twenehminets, had generated a gain
of 64 per cent, PWG2 had a gain of 59 per cent followed by the International
College Cayman Islands team with 46 per cent.

Brian Williams, Chief Executive Officer of Saxon, commented,
“The students really found their footing in the investment world, learning just
how unpredictable and volatile the markets can be – but gaining an
understanding of strategies used to ensure the best performance. I am very
proud of all of our students – it is a learning curve and they are
enthusiastically taking each day at a time, gaining a sound understanding of
the investment world.”

 

Crusader 

Crusader International Management (Cayman) LTD announced two
of its employees, Paul Fordham and Adrien Collovray, have recently achieved
their Associate in Captive Insurance designations. The ACI is the only Captive
Insurance designation in North America and is granted through the International
Center for Captive Insurance Education. The ACI designation is earned following
the successful completion of a series of courses focusing on Captive Insurance
and Alternative Risk Solutions.

Mr. Fordham and Mr. Collovray, both client services
managers, have been with Crusader since 2007 and 2010, respectively.

 

Cayman Airways 

Cayman Airways continues its support of the National Gallery
by offering sponsorship, including flying Sister Islands’ artisans to Grand
Cayman for the annual [email protected] Festival, and artists to Cayman Brac and Little
Cayman for summer camps and workshops.

Each calendar year, the airline has assisted in raising
funds for the NGCI and its programmes. CAL collaborated with the not-for-profit
establishment by funding airfare for Caymanian artist Bendel Hydes to return
home for the inaugural exhibition Circumnavigating the Globe, which opened the
new NGCI facility. Most recently, CAL offered a travel package for the auction
fundraiser held in the beautiful gardens of NGCI board member Ariane Dart.

The auction item, deemed as one of the most popular items up
for bid, comprised two roundtrip tickets to CAL’s Washington DC gateway coupled
with a three-night stay at The Ritz-Carlton, Georgetown, sister hotel to The
Ritz-Carlton, Grand Cayman.

 

RE/MAX

RE/MAX Cayman Islands and Purple Dragon School of Martial
Arts have teamed up to create The RE/MAX/Purple Dragon Scholarship Programme.
Any child between the age of 6 and 16 has the opportunity to enter and win a
one-year scholarship at the Purple Dragon School. In addition to being fun,
Karate empowers children, teenagers and adults of all ages in a safe positive
environment; children learn the art of self-defence coupled with confidence,
self-control, discipline, goal setting and respect for themselves and their
peers.

To enter the competition, entrants may download the
application form on the RE/MAX website or pick up a copy at the RE/MAX office
in 7 Mile Shops and answer the following question “I want to be a Purple Dragon
Warrior because …”

Form need to be handed in by the 30 April, 2012, at either
the Purple Dragon Martial Arts Dojo in the Mirco Centre or at RE/MAX at 7 Mile
Shops on West Bay Road.

 

CIBC Bank and Trust 

CIBC Bank and Trust has won Citywealth magazine’s Offshore
Award-Caribbean Private Bank of the Year for 2012.

CIBC Bank and Trust Chief Executive Officer Ben Gillooly
said he was immensely pleased the organisation had been recognised and rewarded
for its work and the high level of service it gives to customers.

“CIBC Bank and Trust is committed to providing excellent
service and sound financial planning advice to all our valued customers,
especially in difficult economic times such as these. We are proud to be the
recipient of one of Citywealth’s prestigious offshore awards. Our customers can
depend on us to offer world-class, professional advice as we continue to grow
our business to help them achieve their financial goals,” Mr. Gillooly said.

In addition to this award, CIBC Bank and Trust Company
(Cayman) Limited has also been nominated by Citywealth for the equally
prestigious Trust Company of the Year Award. 

Andrew Needham, director, Trust and Client Services and
Michael Halsey, director, Trust and Investment Services, have been included on
the Citywealth Leaders List 2012, as Leading Trustees-Prominent Figure Leaders.

This list of leading service providers is compiled from
recommendations from people within the private wealth management sector as well
as their clients.

 

Butterfield 

The Cayman Islands Further Education Centre toured
Butterfield on Wednesday, 28 March 2012. Students visited the Treasury Dealing
Department hosted by Phil Turnbull, Manager Treasury Dealings and watched
real-time currency trades take place. The students met Human Resources and Marketing
& Communications staff where they discussed the key competencies and
employability skills expected by today’s top employers.

 The students took
part in a customer service teamwork training activity and demonstrated their
employability skills to the HR team. Business teacher Mark Slade said
“Butterfield were extremely helpful and friendly and treated the students as
fellow professional workers. The students enjoyed the visit, learned about
Butterfield and consider Butterfield a top Caymanian employer”

Deborah Davidson, E-learning specialist at Butterfield said
“I thought the student’s questions were very good and showed the students were
engaged and learning.” The Director of The Cayman Islands Further Education
Centre, Robyn Kyne said “we are now encouraging more employer visits by our
students where they can demonstrate the employability skills in actual working
environments they are developing here at CIFEC. We will be offering BTEC Level
3 in Business (equivalent to AP/A Levels) in September and this will start to
include visits to local employers”.

In other news Butterfield officially opened its new location
at Midtown Plaza just a short distance from the branch’s previous popular
location at the Compass Centre.

 

RBC Wealth Management 

RBC Wealth Management’s Cayman office was named a top
employer at the 2012 Top Employer Annual Awards gala dinner held on Saturday
24, March 2012.

The competition, now in its third year, is hosted by the
Cayman Islands Society of Human Resource Professionals. Following success in
the 2011 awards, RBC Wealth Management was recognised as a “Top Employer” in
the large company category for the second year running.

As part of the selection process, companies are awarded
points in nine different categories, including compensation and benefits,
diversity, employee communications, learning/development and physical
environment. Each company is invited to submit an application, but survey
responses provided by employees has a greater weighting in the criteria.

Commenting on the award, Deanna Bidwell, head, RBC Wealth
Management, Caribbean said: “The employee experience is fundamental to our
ability to provide clients with best in class solutions. Attracting and
retaining the best talent continues to be our focus, and establishing a
framework that promotes a healthy work life balance is very important.

“I am extremely proud of the hard work that the Human
Resources team puts in day in day out, and to be recognised by this industry
body for the second year running is testament to the quality of their output.”

 

Appleby 

Appleby announced the formation of a dedicated Regulatory
and Financial Services Team to provide advice to local and international
clients on regulatory matters in the Cayman Islands.  

The focus of the team will include licensing and regulatory
approvals, regulatory reporting, compliance, corporate governance and risk
management. The team is led by corporate partner, Sherice Arman, and comprises
leading practitioners from across various Appleby practice groups and teams,
including banking and finance, insurance, local business, litigation and
private client and trusts. It includes partners Bryan Hunter, Nicholas Joseph
and Sabrina Foster, counsel Robin McMillan, and associates Anna-Lise Bailey,
Helen Spiegel and Samuel Banks. The team also draws on the experience of Mark
Drummond, Compliance Manager, and Richard McMillan, Managing Director of
Appleby Trust (Cayman) Ltd.  

 

Ogier  

Ogier Cayman was named ‘Best Offshore Law Firm’ at the 2012
HFMWeek European Hedge Fund Services Awards.

It was the third time in six months that Ogier has been
named ‘Best Offshore Law Firm’ by the international hedge fund industry. The
two other awards came from the 2011 Hedge Funds Review Service Provider Awards
in December, and the 2011 HFMWeek’s US Hedge Fund Services Awards in October.

“Having been recognised in both New
York and London as a leading offshore law firm for the hedge fund industry is
an exceptional honour for Ogier,” said Peter Cockhill, partner, Ogier Cayman
and head of Ogier’s Global Funds Practice. 
“We have worked hard to build a ‘best-in-class’ hedge fund practice, so
it is especially gratifying to see the industry we serve acknowledging our
commitment to excellence.”

HFMWeek’s European Hedge Fund Services Awards recognise
companies that have outperformed their peer group over the course of 2011.
Judging took into account financial progress, both quantitatively and
qualitatively, growth and genuine innovation across a number of business areas.
Judges comprise of a number of senior level industry representatives who review
a combination of quantitative and qualitative information submitted by
entrants.

 

Maples and Calder  

Maples and Calder joined Junior Achievements growing list of
the programme’s Corporate Ambassadors.

Speaking about the firm’s commitment to the education and
development of Cayman’s young people, Paul Lumsden, managing partner of Maples
and Calder’s Cayman office, said: “Maples and Calder is delighted to support a
programme so dedicated to developing Cayman’s talent of the future,” Mr.
Lumsden said. “Becoming a Corporate Ambassador of this Junior Achievement
programme means we are able to ensure its sustainability, a crucial benefit
which enables the programme to plan strategically for its future.”

Paul Byles, president of Junior Achievement commented, “We
are deeply appreciative of the support we have received from our Corporate
Ambassadors such as Maples and Calder. Young people who participate in the Junior
Achievement programme benefit from obtaining a wide ranging set of skills that
will help them reach their potential in so many ways. They learn about the
power of collaboration, the relevance of hands-on learning and the passion to
succeed with integrity and honesty, all vital life skills that they can draw
from for the rest of their lives,” he said. 

The new Corporate Ambassador sponsorship level was developed
by the Junior Achievement Board in 2011 as a means of ensuring continuity and
sustainability and the programme has already attracted support from several of
Cayman’s top companies as they all see the worth of investing long term in
Cayman’s future. Corporate Ambassadors are required to donate $10,000 each year
over a three year time span and Mr. Byles said that Junior Achievement always
welcomed additions to the sponsorship programme.

Junior Achievement is celebrating its 20th Anniversary in
the Cayman Islands in 2012.  It is
supported by many corporate sponsors including its eight Corporate Ambassadors:
HSBC, Rotary Central, Dunkin’ Donuts, Caledonian Global Financial Services,
Maples and Calder, BDO, Cayman Islands Government and the Cayman Islands
Chamber of Commerce.

 

Hedge Funds Care 

The Valentine’s Mile, a charity run organised by RaceCaribbean
on Sunday, 12 February, raised $4,900 for charity.

The event, sponsored by Cartier and Kirk Freeport, donated
all proceeds to Hedge Funds Care Cayman, a non-profit organisation that works
to prevent and treat child abuse and neglect in the Cayman Islands.

30 children and 325 adults took part, including the Governor
Duncan Taylor.

Raffle prizes included items from Baccarat, Rolex, Lalique,
Mont Blanc, Longchamps, Pandora and Swarovski, in addition to perfume gift
baskets and gift certificates. There was also a separate children’s raffle with
prizes from Swatch and Kipling.

“I’d like to thank Cartier and Kirk
Freeport for being phenomenally generous race sponsors and also huge thanks to
those who took part,” said Lauren Nelson, chair of Hedge Funds Care Cayman. “It
was fantastic to see so many getting involved, especially the children. As an
organisation in the fight against child abuse and neglect, we couldn’t be
happier with how this event has not only raised much needed funds but also
awareness of such a serious problem that afflicts our community here in
Cayman“.

She added, “This will be an annual event, so please mark
your calendars for the 2013 event.”