Business in brief

Ogier

Rachael Reynolds has been promoted to partner in Ogier’s litigation practice. “This is a well-deserved recognition of Rachael’s contributions to the firm and we sincerely congratulate her on her promotion to partner,” said Nick Rogers, managing partner, Ogier Cayman. “Rachael’s talent and abilities as a litigator and a legal professional exemplify the quality of our people and our unwavering commitment to excellence in everything we do.”

Ms Reynolds is one of six Ogier professionals who were promoted to partner on 1 February. The others are: Mathew Newman and Nick Williams in litigation based in Guernsey and Jersey respectively; Katrina Edge and Victoria Yates in the Business and Trust Law Group and Paul Lawrence from Ogier Fiduciary Services’ Real Estate business, all based in Jersey.

Ms Reynolds joined Ogier Cayman in 2007 after practising in London with various firms starting in 1999. She received her bachelor’s degree in jurisprudence from Oxford University in the United Kingdom in 1998. Ms Reynolds has a particular focus on international trusts disputes and contentious restructuring and insolvency matters. Her practice also regularly involves fraud and international asset tracing claims. She is a contributing author to International Asset Tracing in Insolvency, Oxford University Press, 2010.

CIBC FirstCaribbean

The Cayman Islands Red Cross Thrift Shop continues to thrive, thanks in no small part to CIBC FirstCaribbean, the shop’s corporate sponsor, who makes a donation of US$5,000 every year toward maintenance and upkeep.

“Our aim in sponsoring the Red Cross Thrift Shop is to assist with any upgrades and improvements that are needed to make it more customer-friendly for shoppers,” said Mark McIntyre, managing director of CIBC FirstCaribbean Cayman. “The store is patronised by a large segment of the community and we are happy to be able to contribute to a more friendly experience for those people, and support the Red Cross in its efforts to develop this vital service that it offers to residents.”

“The Cayman Islands Red Cross is extremely pleased that CIBC FirstCaribbean has agreed to support the development of the Thrift Shop over a sustained amount of time,” said Jondo Obi, director of the Cayman Islands Red Cross. “The monies from last year are being used to construct a well-secured, sizeable donation box so that members of the public can make their donations on the weekends and at times when the Shop is closed. The funds for 2013 will be used to purchase security cameras which will be placed in the Shop as well as around the premises. I would like to encourage more companies on the island to follow CIBC FirstCaribbean’s example and sponsor key Red Cross programmes.”

Other enhancements that CIBC FirstCaribbean’s funding has provided to the Thrift Shop include the purchase of a Point of Sale system and training for volunteers on how to use the system. They also want to introduce reusable bags for customers.

Saxon

Saxon congratulated students Michael Ebanks and Valdin Bailey of the International College of the Cayman Islands on their performance in the ongoing Saxon Investment Club competition. Since 1 October, the two team members have grown a virtual starting capital of $100,000 to $275,406.64 by analysing, selecting and hypothetically trading stocks in accordance with real time stock market information.

Saxon CEO Brian Williams said, “I am proud of our students for completing their fourth month – I am sure it has been a learning curve for all of them. The fact that both are Caymanians and students of ICCI should make us all proud.”

The idea of the club was to offer a platform for our local youth to be exposed to the realities of the investment world from a young age and provide them with the insight and knowledge as they get ready to enter the working world, and learn about fiscal responsibility, Mr. Williams added.

In the Saxon Investment Club, students are encouraged to invest in companies that are relevant to their interests such as Google, Apple, Texaco and Facebook. Mr. Williams said that “it often helps to invest in products, services and fields that we know well, and these numbers would seem to support that wisdom”.

The teams lagging behind Mr. Ebanks and Mr. Bailey have been meeting to reassess their strategies to ensure they learn from the previous month’s experience.

The competition will end in March and features monthly performance prizes and a grand prize of $2,500.

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