Former Maples and Calder managing partner Anthony Travers has joined Thorp Alberga after a six-year break from practising law.
Mr. Tavers, the chairman of the Cayman Islands Stock Exchange, became senior partner on 1 December at Cayman Islands and British Virgin Islands firm. The 10-partner firm, renamed Travers Thorp Alberga, has offices in Grand Cayman and Hong Kong and specialises in investment funds, financial services, government relations and private clients.
Michael Alberga, a close friend of Mr. Travers, will move to managing partner. After retiring from Maples and Calder in 2006, Mr. Travers had a non-compete clause for a period of six years.
“My six year non-compete with my old firm has now expired and a number of my former clients have asked me to step back in,” Mr. Travers said. “Given macroeconomic and onshore regulatory changes, it is time for some fresh thinking in the provision of offshore legal services.
“I was attracted to the firm because a number of my highly experienced former colleagues are already partners and their expertise in financial services and regulation is second to none,” Mr. Travers said. “In a fast changing regulatory environment the firm’s emphasis on government relations is now a very necessary part of a comprehensive client service.”
Mr. Travers added that the firm has a unique philosophy on fees, which is highly relevant to the current financial climate. “There have been recent criticisms of the old offshore law firm model which is clearly no longer as appropriate in changing circumstances and is obviously not working as well as it once did.”
Mr. Travers was previously the senior partner of Maples and Calder and instrumental in the establishment of the firm’s global network of foreign offices. In the early 1990s, he prepared the legislation which established the Cayman Islands investment fund and private equity industries and later the legislation on asset protection. He is former president of the Cayman Islands Law Society and high profile advocate of offshore financial centres. From 2009 to 2011, Mr. Travers was also the chairman of Cayman Finance.