Business in brief

LIME 

LIME appointed Martin Roos to the position of acting chief executive officer for the business. 

In his new role, Mr. Roos takes on the leadership of all of LIME’s businesses in the region, as well as the group’s executive committee.  

Mr. Roos joined LIME in April this year as chief operating officer. He was previously the head of Caribbean and Central America for Ericsson, the telecommunications network supplier.  

Tony Rice, chief executive of Cable & Wireless Communications, LIME’s parent company, said, “I’m pleased to announce Martin Roos will be taking on leadership of the LIME business. He is a capable telecoms executive with years of experience in the Caribbean region. Martin joined us earlier in the year, and has made an important impact on the business already in focusing and strengthening our capability on the highest standards of customer experience.” 

 

Horseshoe Group 

Horseshoe Group, the provider of insurance management, transforming and advisory services for insurance-linked securities, was recognised as the 2013 “Market Facilitator of the Year” by Trading Risk magazine. The award acknowledges excellence and achievement in the insurance-linked capital markets. 

The award was presented at the Trading Risk Awards ceremony at The Underglobe in London on 20 June. 

An independent panel of industry leaders selected Horseshoe Group, recognising that Horseshoe Group undertook the formation and management of a number of investor-sponsored Special Purpose Insurers, the significance of its transformer, Horseshoe Re Limited, to key market investors globally, as well as its joint-venture ILS Fund Services (with Bermuda-based ISIS Fund Services) to provide specialised fund administration to ILS Funds. 

“Receiving this award is a great honour, especially considering the calibre of the other finalists in this category,” said Andre Perez, CEO and founder of Horseshoe Group. “We are delighted to be recognised for the second time as the leading facilitator in the insurance convergence market by acting as an enabler in this sector. Horseshoe Group has become the insurance manager and transformer of choice for investors active in the ILS sector.” 

 

Maples and Calder 

In its annual awards, publication Who’s Who Legal has selected Maples and Calder as “Firm of the Year for Private Funds”. Who’s Who Legal lists only the leading lawyers in each field, based exclusively on the findings of an independent six-month research process that encompasses feedback from private practitioners, clients and other experts in the sector.  

Maples and Calder is represented by 15 lawyers from six different jurisdictions, demonstrating the strength of the firm’s practice in this field.  

Seven practitioners from the firm’s office in the Cayman Islands are included in the chapter, with Iain McMurdo, head of the global private equity group, garnering particular praise for his expertise in private equity fund formation and financing to financial institutions and investment managers. Jon Fowler, the global head of the investment funds group, is also singled out for his skills in this field. 

At the London office, Paul Govier is considered a fund formation expert and in Ireland, Peter Stapleton and Barry McGrath come highly recommended. Spencer Privett and Anthony Webster in Hong Kong are also featured, alongside Richard May in the British Virgin Islands and Tahir Jawed, who represents the United Arab Emirates from the firm’s Dubai office. 

 

Solomon Harris 

Richard Addlestone has joined Cayman Islands law firm Solomon Harris as a partner in the corporate department.  

Mr. Addlestone has 20 years’ experience as a lawyer, having started his career in London, including working for a top 20 ranked firm, before moving to the Cayman Islands in 2001. He joins from Appleby where he was a partner in funds and investment services, specialising in private equity, hedge funds, subscription finance, fund of fund finance, captive insurance and oil and gas work. Prior to Appleby, he was a partner in the private equity group and the insurance group at Walkers.  

Mr. Addlestone has extensive experience in corporate and commercial law, offshore investment funds, fund restructuring, finance, mergers and acquisitions, and energy and is recognised in the leading legal directories. 

Stuart Rowe also joins the firm as an attorney in its property and banking and finance practice. He was formerly with Eversheds in the UK, where he helped to lead a specialist real estate finance team that worked primarily with global financial institutions and funds.  

Managing partner Sophia Harris said, “We are pleased that our firm attracts individuals with the qualities, experience and track records of Richard and Stuart. These appointments to the firm underscore our confidence in the Cayman Islands as a leading international financial centre, of our own strength in this industry and will progress our aggressive plans for the growth of Solomon Harris.”  

 

Butterfield  

Butterfield Bank (Cayman) Limited is the latest company to get involved in the Purple Dragon scholarship programme. Butterfield joins Conyers Dill & Pearman, Digicel, Cayman National, CML and RE/MAX in working with Purple Dragon Martial Arts to improve the lives of young Caymanians.  

The Purple Dragon scholarship programme was developed to provide children in the Cayman community a chance to learn martial arts, who would otherwise not be able to afford it. The programme is also aimed at promoting positive self-growth and development. The candidates for the programme are usually selected by a parent, school teacher, counsellor or guardian. 

In exchange, sponsors will gain a contract from each student, committing to regular attendance and timeliness, maintenance of school grades and behaviour reflecting respect for individuals and property. Scholarship sponsors will also receive reports from Purple Dragon teachers, parents, school and counsellors, tracking the performance of the students. 

“We are thrilled to be a part of the Purple Dragon scholarship programme. At Butterfield, we are committed to supporting our youth and local organisations that help improve their opportunities,” said Butterfield’s Rebecca Ebanks.  

 

DMS Organization  

DMS Organization treated 17 John Gray High School students studying English as a second language to a shopping expedition at Books & Books.  

The students’ teacher Britta Egrid teaches ESL at John Gray High School. The reading programme was implemented this year and students were more engaged, enthusiastic and aware of their written and spoken expression, she said.  

“If there is one thing that I would advise students and parents to do, it is to read. Read with your kids, read for pleasure. Not only does it stimulate the mind, but it helps to shape our language. I am very grateful to DMS for sponsoring my entire ESL reading class so that each child can choose a book to enjoy over the summer.” Ms Egrid said. 

Richard-addlestone

Mr. Addlestone

stuart-rowe-cayman-lawyer

Mr. Rowe
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