Business in brief

Cayman Finance appoints new board members 

Cayman Finance announced the appointment of five new directors to its board. 

Barry McQuain (Caledonian Global Financial Services), Don Seymour (DMS Offshore Investment Services), Tania Dons (Conyers Dill & Pearman) and William Walmsley (Rawlinson & Hunter) all accepted seats, following the organization’s annual general meeting on May 20.  

Nick Rogers of Ogier also joined the board by replacing outgoing director Peter Cockhill. 

They join existing directors Ian Wight (chairman), Bryan Hunter (Appleby), Conor O’Dea (Butterfield Bank), Dan Scott (Ernst & Young), David Roberts (Cayman Management), Frazer Lindsay (PwC Cayman), Henry Smith (Maples and Calder), Kevin Lloyd (KPMG), Mark Lewis (Walkers) and Stu Sybersma (Deloitte).  

“These five individuals and the companies they represent bring a wealth of experience and expertise to the organization, and we are grateful for their commitment to strengthening and reinforcing our mission. I would like to especially thank outgoing director, Peter Cockhill, for his many years of service to Cayman Finance,” Chairman Ian Wight said. 

Gonzalo Jalles, CEO of Cayman Finance, said he is pleased with the expansion of the board, which ensures direct representation of addition sectors of Cayman’s finance industry.  

“I have had the opportunity to work with most of these individuals before, and I am sure their contribution will be very beneficial to our future activities,” he added. 

RBC Wealth Management wins four awards 

RBC Wealth Management’s Caribbean business has been recognized with four awards from online publication Corporate LiveWire in both global and regional categories.  

RBC won “Best Offshore Global Custodian – Caribbean” and “Best Captive Insurance Banking Provider – Americas” globally, as well as “Fund Administration Services Provider of the Year” in the Cayman Islands and “Captive Insurance Custodian, Banking & Investment Provider of the year” in Barbados.  

Chamber Pension Plan members elect new board of trustees 

The pension plan’s new board of trustees was elected at a special member meeting on May 15. The board members serve on a voluntary basis and represent specific industry sectors for both employees and employers.  

The new trustees are: Ashita Shenoy, senior manager with KPMG (Financial and Professional – Employees), Ogier partner Peter Cockhill (Financial and Professional – Employers), Pamela J. Watler, executive assistant at Cayman Airways (Hospitality and Tourism – Employees), Loredana Branca of Dolce Vita Restaurant (Hospitality and Tourism – Employers), AL Thompson’s Home Depot financial controller Paul Schreiner (Industry and Commerce – Employees), Raul Nicholson-Coe, chief operations officer with Digicel Cayman (Industry and Commerce – Employers) and Charles Dickinson, professor of Equine Medicine at St. Matthew’s University (Voluntary and Self Employed). 

Current trustee Eduardo D’Angelo Silva said, “We were very pleased with the turnout at the meeting with over 100 members in attendance. Because our trustees are voted in democratically, it was great to see such a representation from our membership.” 

The board of trustees subsequently appointed Ashita Shenoy as chair and Eduardo D’Angelo Silva as deputy chair. 

ESO updates household register 

The Economics and Statistics Office will conduct a full update of the Cayman Islands Household Register between May 26 and Aug. 29. The household register provides a count of all households in the Cayman Islands, based on the 2010 Census.  

Marco Archer, minister of finance and economic development, said it is important for policymakers to be informed from household statistics. “Therefore, I am urging the public to cooperate with this statistical activity which will be the basis for selecting households for future surveys, such as the labour force surveys,” he said.  

It is the first time since the 2010 Census that the household register will be fully updated. Trained enumerators will visit every dwelling unit listed in the household register, as well as newly constructed dwelling units that are not listed, to determine if they are occupied by a household.  

ESO Director Maria Zingapan said ESO staff members can be identified through their ID cards and advised that concerned community members should ask the field workers to present their IDs before providing key information.  

AFA sponsors Women’s Retreat 

Advanced Fund Administration sponsored the Boatswain Bay Presbyterian Church, Women in the Church Ladies and Teens Retreat held from May 16 to 18 in Grand Cayman. 

More than 50 Caymanian resident women and teen girls attended the retreat held at the Grand Caymanian Holiday Inn Resort. The retreat featured Courtney Doctor from the U.S. as keynote speaker.  

AFA President Peter Young said the sponsorship is one of the ways in which AFA is giving back to the Caymanian community.  

Baptist Health appoints new Cayman representative 

Rebekah Brooks will become the new international representative for Baptist Health International in the Cayman Islands. She will succeed Ana Bassil, who plans to retire after 22 years with the organization.  

Ms. Brooks, who graduated from Leeds Metropolitan University with a bachelor’s degree (with honors) in nursing, began her career in the cardio-thoracic intensive care setting. Ms. Brooks then moved into general intensive care where she has practiced in both Bermuda and the Cayman Islands.  

While working at the Cayman Islands Health Services, Ms. Brooks created and implemented the first cardiac rehabilitation program in the Cayman Islands. In 2005, she diversified into pediatrics and moved to the Children’s Clinic, formally known as Dr. Gordon Smith’s office. During this period, she also became a qualified lactation consultant.  

Ms. Brooks was the recipient of the Eloise Reid Award for Nursing Excellence in 2012 and is the immediate past president of the Cayman Islands Nurses Association.  

Ms. Bassil will remain with Baptist Health as a consultant. 

Genesis expands in Cayman 

Mark Ait-Hocine and Cathlin Rossiter have joined Genesis Trust & Corporate Services  

Mr. Ait-Hocine, who has more than 14 years of multi-jurisdictional experience, joins as senior trust manager from Intertrust (Cayman) where he spent six years specializing in corporate and private trust structures, as well as directorships of offshore vehicles. 

He previously spent four years as head of Trust Administration and Control with Prudential-Bache International Limited in London, which provided Cayman Islands-based trust solutions for clients of the Prudential Group. 

Mr. Ait-Hocine began his career in offshore administration with PricewaterhouseCoopers in Jersey providing financial structuring services to international corporations and trustee services to high net worth individuals.  

Ms. Rossiter has more than 16 years’ experience, 11 of which were in the Cayman Islands with PricewaterhouseCoopers Corporate Finance & Recovery (Cayman) Limited. Prior to that, she worked at Ernst & Young Corporate Finance in Perth, Australia. Ms. Rossiter is also a chartered accountant, a member of the Insolvency Practitioners Association of Australia, founding chair of the Cayman Chapter of the International Insolvency and Restructuring Confederation (IWIRC) and a member of the Cayman Islands Society of Professional Accountants.  

Ryan Schroeder joins Intertrust 

Ryan Schroeder has joined Intertrust Cayman as director of Fiduciary Services.  

Mr. Schroeder, a certified public accountant with more than 14 years’ experience, was an executive director at J.P. Morg
an, serving as the head of Funds Management for J.P. Morgan Global Wealth Management’s Alternatives Investment Group.  

His recent experience covers a range of regulatory matters, such as FATCA, AIFMD, Dodd-Frank, amongst others, involving the Cayman Islands Monetary Authority, the Securities and Exchange Commission, the Office of the Controller of the Currency, the Commodity Future Trading Commission and the Internal Revenue Service. 

Appleby shortlisted in The Lawyer Awards 

Appleby has been shortlisted in the “Offshore Firm of the Year” category for the 2014 The Lawyer Awards. 

The Lawyer Awards recognize firm excellence across private practice, the public sector, commerce and industry, and the Bar. In determining finalists, The Lawyer’s editorial team conducts a comprehensive research process, interviewing hundreds of lawyers and their clients to supplement nominations. 

Winners will be announced at a ceremony in the Grosvenor House Hotel in London on June 25. 

CUC declares dividend 

The Caribbean Utilities Company board of directors declared a dividend of US$0.165 per Class A ordinary share, or an annualized dividend of US$0.66 per share. The dividend will be payable June 15 to shareholders of record June 3. 

CUC provides electricity to Grand Cayman under a non-exclusive electricity generation license expiring in 2029 and an exclusive electricity transmission and distribution license expiring in 2028. 

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