Business in brief

Maples advises Amedeo in connection with aircraft order 

Maples and Calder is advising Amedeo (formerly Doric Lease Corp.) in connection with its US$8.3 billion order for Airbus A380 wide-body aircraft. The order reportedly is one of the most significant recent investments in Airbus A380 aircraft in the market.  

Maples and Calder has been providing Cayman Islands and Irish law advice and assistance to Amedeo in relation to its corporate structuring and implementation of the order through its offices in the Cayman Islands and Ireland.  

MaplesFS is providing complementary fiduciary and administration services to the company through its offices in the Cayman Islands, Ireland and Luxembourg. 

Alasdair Robertson, Global Head of Maples and Calder’s Finance group, said, “The transaction has utilized Maples and Calder’s and MaplesFS’s global network of offices in key time zones and jurisdictions around the world, illustrating our ability to provide seamless support and commercially focussed advice on an accelerated timeframe.” 

The Maples and Calder team in the Cayman Islands office is being led by Alasdair Robertson and Jonathon Meloy, assisted by Barnabas Finnigan. Patrick Quinlan and Laurence Hanley are leading the team in Maples and Calder’s Irish office, along with Nollaig Murphy.  

SMP Partners Group expands with office in Dubai  

The SMP Partners Group has expanded its global network with the opening of a new representative office in Dubai.  

The Trust and Corporate Service Provider officially opened its new office in the United Arab Emirates last month.  

The Group also has offices in Zurich and Hong Kong, in addition to its headquarters in the Isle of Man.  

The SMP Partners Group of companies comprises the provision of trust and company services, a large accounting and tax practice, fund administration services and ancillary administrative services. 

Group Chairman Steve McGowan said, “SMP Trustees is delighted to be starting a new adventure in Dubai with a new representative office. Dubai has positioned itself to be world-class and a world-leader in many industries. Our industry relates to professional services within the wealth management sectors, and Dubai is a very attractive location for a group like SMP.”  

He added, “The Dubai office has been established for relationship purposes only at this stage. It will not undertake any financial services or regulated activity onshore in the UAE or the Dubai International Financial Centre.”  

The opening of the new representative office follows a partnership agreement signed between the Dubai Department of Economic Development and the Isle of Man Government in 2012 and a recent visit by a Dubai Investment Development Agency delegation to the Island.  

Fahad Al Gergawi, CEO of Dubai FDI, said: “Services have emerged into a strong component of Dubai economy and the trend is here to stay with the ongoing diversification strategy. The key sectors promoted by Dubai as drivers of sustainable economic development and the arrival of Expo 2020 will create stronger demand for globally trusted financial services.  

“We consider it a major milestone that SMP Partners Group chose Dubai to grow further. It goes a long way in bringing world-class resources to Dubai and offers SMP Partners with the best links to a consumer market of over 2.2 billion spread across the Middle East, North and East Africa and South Asia.” 

Smoothie King opens second location

Smoothie King Franchises, Inc. has opened its second location in the Cayman Islands with BW Ventures, Ltd., owned by Barry Bodden and Gary Watler. The latest opening is part of a four-store development agreement for the Cayman Islands. 

Franchisees Bodden and Watler opened their first Smoothie King in West Bay in 2010. Their second store, at the Flagship Building in George Town, opened earlier this month and the team will open a third location in 2015.  

“International expansion is a key part of our growth strategy for the next several years. We’re continuing to develop franchise and corporate locations in South Korea, Singapore and the Cayman Islands, while also focusing on identifying partners in several key countries in the Asia-Pacific region and the Middle East,” said Dan Hannah, vice president of International Business Development, Smoothie King.  

“The top 20 percent of our 126 international locations in three countries have experienced an average unit volume of US$1 million, proving Smoothie King is a strong investment opportunity worldwide. We’re thrilled to continue our strong partnership with BW Ventures, Ltd. in the Cayman Islands where our mission is to serve more residents and visitors aiming to live healthy, active lifestyles.”

CIBC FirstCaribbean introduces ‘Talk to me Tuesdays’

CIBC FirstCaribbean has launched “Talk to Me Tuesdays,” a new initiative where branch managers, sales staff and customer service representatives will have the opportunity to engage with customers who visit the banks “in a highly interactive and personalized manner,” according to a press release.  

Talk to Me Tuesdays will occur at branches once a month between 10 a.m. and 2 p.m. until the end of the year. The designated times will allow customers to receive information on special promotions being offered by the bank, as well as the other products and services offered, including mortgages and loans, credit and debit cards, Internet banking and online bill payment, and more. 

“This dynamic sales drive is intended to provide us with more opportunities to deepen our relationship with our existing customers and build relationships with potential clients,” said Mark St. Hill, CIBC FirstCaribbean’s managing mirector, Retail, Business and International Banking. 

“Talk to Me Tuesdays should be our fun day at work, a day that we dedicate to getting to know our customers personally, finding out what their banking needs are and recommending to them the products and services that match their expectations.” 

Officials-Dubai-S

Officials of Dubai FDI and SMP trustees at the official opening of the new representative office in Emirates Tower, Dubai.
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