Caledonian Global Financial Services presented its new customer access website and launched a Global Elite Platinum Card during a recent event celebrating the company’s first year under new ownership.
Kobi Dorenbush, co-chief executive officer of Caledonian Global Financial Services, said new management has made good on the promises of a year ago to reshape the business “to become one of the premier investment banking firms in the region”, to grow through acquisitions and to innovate.
“Over past year we have acquired a few businesses and we are in the midst of acquiring a few more. Through acquisitions we have opened offices in South Africa and in the British Virgin Islands,” he said.
As a result, Caledonian today has 130 staff in six offices around the world.
In addition, the company launched Caledonian Securities, a fully licensed broker dealer based in the Cayman Islands, and responded to the economic uncertainty by offering clients alternative asset classes, in the form of gold bullion and investments in grade diamonds, Mr. Dorenbush noted.
Nathaniel Orr Depner, managing director of Caledonian Securities, added the new trading platform recently surpassed 1.5 billion traded shares.
Becoming a truly global company is one of the challenges for Caledonian, Mr. Dorenbush said. Likening the company’s website to a storefront he said, “a generation ago, competition was local and your storefront just needed to be the best one on the block. Today, particularly in the financial services markets, capital is transient, clients are fickle and competition is fierce. Having the nicest storefront on the block or even having the nicest storefront in the Cayman Islands is just not enough.”
With clients having access to financial services around the world, the Caledonian client portal needs to be able to compete on global level, he added.
Mr. Dorenbush’s co-chief executive officer Barry McQuain presented the new website called Caledonian ClientAccess, which was developed in house during the past year.
The new portal incorporates all client services, including online banking, platinum card, brokerage and custody, fiduciary, consisting of director services, corporate services and trusts, fund services and captive insurance management as well as life insurance. It is available on any platform, such as computers, tablets, iPhones and android phones.
Related to the launch of the Caledonian’s Global Elite Platinum Debit Card for banking and wealth management clients, guests at the event at the Westin Casuarina on Thursday, 11 October, were given a debit card preloaded with $10. Caledonian announced it will match the amount spent with each card and donate the proceeds to Feed our Future, a Cayman charity that provides school meals for children in need.
To reflect Caledonian’s latest diamond investment offering, each guest was also handed a pouch which included a cubic zirconia, and for one lucky winner a 1 carat diamond courtesy of Caledonian and Magnum Jewellers.