Business in brief

‘The Banker’ recognizes Butterfield Bank

The Banker magazine named Butterfield Bank of the Year 2013 in the Cayman Islands and Bermuda. The Financial Times publication considers a bank’s financial performance, strategic initiatives, innovative use of technology and service delivery channels.

Brendan McDonagh, Butterfield’s chairman and CEO, said in a press release: “We are honored to have been named Bank of the Year in our two largest markets by The Banker.

“Butterfield was recognized in Bermuda and Cayman for our strong financial performance against a backdrop of ongoing economic challenges in those jurisdictions, our continued efforts to restore and enhance shareholder value, and the new products and services we successfully brought to the market during the year.”

Conor O’Dea, Butterfield’s senior executive vice president, international banking and managing director of Butterfield Bank (Cayman) Ltd., added: “Cayman Islands consumers are well-served by a relatively large number of local and international banks, so The Banker’s recognition of Butterfield as Cayman’s Bank of the Year 2013 is a significant accomplishment that reflects our strong financial results and the exciting new services and products we’ve introduced during the last 12 months, including the enhancement of our electronic banking services and the introduction of a suite of credit cards featuring airline rewards. I would like to thank all of our employees, customers and partners in the community for the part they have played in helping Butterfield achieve those milestones.”

Cayman Automotive moves to new location

Cayman Automotive has moved to its new office and showroom at Grand Harbour, next to the pharmacy, as of Dec. 1.

Maples recognizes teachers

Maples and Calder partnered with the Cayman Islands Chamber of Commerce to sponsor the Golden Apple Awards. As sponsor of the Lifetime Achievement Award category, Maples and Calder has committed $12,000 for each of the next three ceremonies.

Now in its fifth year, the Golden Apple Awards program seeks to recognize educators for their outstanding dedication to the teaching profession, often going beyond lesson plans and classroom interactions to see to the success of each of their students.

Candidates for the awards are nominated by the public before being shortlisted by a panel using carefully selected judging criteria.

“Maples and Calder recognizes the importance of education in our community,” said Paul Lumsden, managing partner of Maples and Calder’s Cayman Islands office. “This commitment has led us to assist various schools and after-school youth programs throughout the country which focus on the recognition of excellence and achievement, such as the Golden Apple Awards.”


Law firm Appleby raised more than $14,000 in a worldwide “dress down” initiative on Nov. 22 group-wide for the victims of Typhoon Haiyan.

“Having lived through Hurricane Ivan, we can empathize with the plight of the Filipinos who have suffered far greater loss and devastation in the aftermath of Typhoon Haiyan,” stated Bryan Hunter, Cayman office managing partner.

“It reminds many of us of what it was like waiting for relief to come in the form of food, clean water and basic living supplies, so we felt compelled to do something extra to help.”

The funds collected in each jurisdiction were matched by the group and given to pre-approved relief organizations such as the Red Cross and the Disaster Emergency Committee, which are heavily involved in facilitating the delivery of emergency food and supplies, providing temporary shelter for victims and assisting families to reconnect with their missing loved ones.