Business in brief

Online broker launches in Cayman 

OneTRADEx Ltd., a broker/dealer that offers online discount trading, has recently launched operations through its new website: www.onetradex.com. The discount brokerage, which is licensed under the Cayman Islands Securities Investment Business Law, focuses on proving low cost stock and securities trading to Cayman investors. 

OneTRADEx aims to fill the gap that has been left by the difficulties many investors in Cayman and other offshore centers have experienced when attempting to open accounts with traditional low cost brokers. 

OneTRADEx has been designed from the ground up to offer investors in Cayman, including non-resident U.S. citizens, the type of quality market access that onshore investors take for granted, the company said.  

The broker dealer further targets smaller hedge fund managers and family offices with its offshore trading platform. 

The management team based in Cayman includes Colin Wilson and Rich Ellison, who have more than 35 years of financial services experience in brokerage and asset management developed in both onshore and offshore markets. 

In addition to desktop, online and mobile trading platforms, OneTRADEx staff are also available for assistance to place orders by telephone and provide technical support if needed. 

Silver Wheaton donation helps support career development.

Precious metals streaming company Silver Wheaton and the CFA Society Cayman Islands have awarded a CFA scholarship to Robert Hutchison. The scholarship covers the CFA exam registration fees and study materials.  

“I am very grateful to Silver Wheaton and the CFA Society of the Cayman Islands for this scholarship award,” Mr. Hutchison said. “The award will greatly help my studies toward the world’s most respected and recognized investment designation.” 

Silver Wheaton has also offered Rafael Elias, a Caymanian student currently studying at UCCI, a summer internship. Mr. Elias was a member of the team that recently represented Cayman at the CFA Research Challenge held in Dallas, Texas. “It was a pleasure and an honor to lead Cayman’s first CFA Global Research Challenge team during the 2013/14 Challenge,” Mr. Elias said. “The experience was truly inspiring and beneficial to my career prospects, as evidenced by the generous offer of a paid summer internship extended by Silver Wheaton.” 

Silver Wheaton is targeting $20,000 in donations in 2014 to the local CFA Society to support finance education in the Cayman Islands.  

Nik Tatarkin, president of Silver Wheaton (Caymans) said in addition to the annual scholarship and internship opportunity, “We are delighted to sponsor the first live three-day Chartered Financial Review course to be held on island this coming May.” 

MaplesFS clients donate to National Trust

The National Trust for the Cayman Islands recently received US$59,110.39 to assist with educational programs over the coming year from several MaplesFS clients. 

“We are delighted that clients of MaplesFS have chosen to make these extremely generous donations to the National Trust. At a time when our environment and historic sites are under increased pressure, these funds will go a long way toward our efforts to preserve them for future generations,” said National Trust executive director Christina Pineda.  

“We plan to apply the donation to our 2014 education program, which teaches thousands of students each year the importance of protecting our natural biodiversity and preserving our rich history and culture.” 

The National Trust is a nonprofit, statutory body with a mission to preserve natural environments and places of historic significance in the Cayman Islands for present and future generations. 

The National Trust’s educational programs cover historic, environmental and educational aspects of Cayman culture. 

CIBC FirstCaribbean welcomes new associate director

CIBC FirstCaribbean has appointed Joy Callender as the bank’s new associate director of Retail Banking.  

She joined on April 7 from the Turks and Caicos Islands, where she was the district manager for retail, wealth and business banking. Ms. Callender will have responsibility for the entire retail operation in Cayman and report to the managing directors of the Cayman Islands and Retail, Business and International Banking. 

With CIBC FirstCaribbean, Ms. Callender has also served as human resources manager in Barbados; local processing center manager in Tortola, British Virgin Islands; and senior branch manager of retail, wealth and business banking in Providenciales, Turks and Caicos Islands.  

She is an associate of the Institute of Canadian Bankers.

Investment funds partner joins Walkers

Jason Allison has joined the Walkers’ Cayman Islands office as a partner in the Global Investment Funds Group.  

After spending more than five years at Freshfields in London, Mr. Allison commenced his Cayman Islands career with Maples and Calder in 2004, becoming a partner there in 2007. In 2012, Mr. Allison left Maples and Calder to help establish the Cayman Islands office of another international offshore law firm. 

He advises on Cayman Islands corporate and investment funds law, with particular expertise advising institutional clients on all aspects of structuring and establishment of private equity funds and hedge funds, and the related downstream M&A and corporate finance aspects.  

“We are pleased to welcome someone of Jason’s caliber, expertise and reputation in the market” said Ingrid Pierce, global managing partner with Walkers. “He joins us at a time when the continuing development and maturity of the global funds market is increasingly using Cayman structures, not only for the fund vehicles themselves, but also for the downstream asset and business owning entities of those funds, and clients are increasing their demand for the type of expertise that both Jason and Walkers has in this area.” 

Maples and Calder partners relocate

Shaun Denton, previously the managing partner of the Maples and Calder’s London office, has relocated to Asia to head up the Hong Kong office. He joined the firm in 1995 and has extensive experience in all types of capital markets and structured finance transactions, including securitizations, repackagings and derivatives.  

Maples and Calder’s Hong Kong office principally practices the laws of the Cayman Islands and the British Virgin Islands and focuses on corporate and financial legal services. 

In addition, the firm’s London office will benefit from the expertise of partners, Nick Evans and Heidi de Vries, who recently relocated from the Cayman Islands office.  

Ms. De Vries specializes in the structuring, formation and ongoing maintenance of investment funds, including hedge funds and private equity funds. Her experience includes the establishment of Cayman Islands and British Virgin Islands companies and partnerships and advising on a broad range of corporate and commercial matters. 

Mr. Evans advises on the formation and maintenance of all types of investment funds, including hedge funds and private equity funds. He also has experience of a wide range of corporate transactions, with particular expertise in M&A transactions, together with restructurings, joint venture arrangements, financing transactions and structured finance deals. 

Maples and Calder’s London office provides Cayman Islands and British Virgin Islands legal advice, specializing in the investment funds, finance, company commercial and trusts practice areas. 

BDO and CML ‘Light it up Blue’

On April 2, to mark the fifth annual international “Light It Up Blue’ Autism Awareness Day campaign, blue lights were seen at Camana Bay, and both BDO and CML Offshore Recruit
ment raised US$1,200 for the Lighthouse School for much-needed sensory equipment that staff and students had on a “wish list,” which also included weighted blankets, weighted vests and other sensory equipment. 

“The students just need to feel secure, and comforted so they can calm themselves enough to actually become aware, and concentrate on what the teachers are showing them,” said Leslie-Ann Daley, occupational therapist at the Lighthouse School. “This is what the weighted blankets and vests do for the children. We take such pride in what we already have here at the Lighthouse School but to have enough for each classroom and not just for a few children in the gym is a dream for all the staff.” 

Visit http://des.edu.ky/addresses.cfm for more information on “Light it up Blue.”The Lighthouse School has a volunteer program for anyone who would like to help the students.  

The Chamber of Commerce, now in its fifth year of Leadership Cayman, announce that Cayman National Corp. has again signed on as a seminar supporting sponsor.  

“Cayman National is proud to once again sponsor the Leadership Cayman program, which enables Cayman’s budding leaders to interact with local business leaders and learn about the various aspects which make up the Cayman community. This investment will ensure further education of members and fuel a positive impact on the socio-economic development of our Islands,” said Shari Whittaker, the bank’s marketing manager.  

Leadership Cayman allows members the unique opportunity to interact with diverse, high-level community leaders and decision-makers through their attendance at a series of seminars and retreats.

BCQS International appoints director

Property and Development Consultancy BCQS International has promoted chartered surveyor Chris Graham to the position of director, based in the British Virgin Islands. In his new position, Mr. Graham will be working closely with Director Ben Butler to develop and build on the existing relationships, as well as seek out new opportunities in BVI and the surrounding islands. 

He is taking over from BCQS Director James Hunt, who is going back to the U.K. with his family after spending four years with the BCQS team in BVI.  

Silver-Wheaton-S

From left, Nik Tatarkin, president, Silver Wheaton (Caymans) Ltd., Robert Hutchison, Rafael Elias and CFA Society Cayman Islands board members Monique Frederick and Christoph Barnett.

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