Business in brief

RBC donates $10,000 to Cayman Islands charities  

RBC employees from across Cayman recently volunteered their time for 10 projects at six local organizations in support of RBC’s Day of Service Grants Program.  

The projects in Cayman spanned many areas of need and involved more than 75 employees and family members who contributed more than 200 hours of community service. In addition, for each project completed between April 6 and June 13, RBC donated $1,000 to the organizations assisted. In all, the 2014 program resulted in $10,000 being donated to Cayman Islands’ charities.  

The organizations receiving the support were: 

  • Blue Iguana Recovery Programme in Grand Cayman – enclosure renovations 
  • Cayman Islands Cancer Society (two grants) – Ice on Ice Gala event support and Cancer Survivors Dinner 
  • Cayman Islands Humane Society (two grants) – shelter help and Community Give Back Project 
  • National Drug Council, Youth to Youth Program – Youth-to-Youth car wash 
  • Georgetown Primary School (three grants) – Grow Box Agricultural Project National Council of Voluntary Organizations – Volunteering at the Bargain Shop. 

“RBC employees are passionate volunteers,” said Michael Munnings, country head and area vice president for RBC in the Cayman Islands. “Our staff lends their energy and expertise to initiatives that affect virtually every aspect of our communities.”  

Across the Caribbean region, RBC employees planned and implemented more than 100 volunteer projects as part of this program. In all, RBC completed 1,240 projects around the world, engaging more than 10,000 people in volunteerism, according to a press release.  

Investment funds lawyer returns from Hong Kong secondment 

Caymanian funds lawyer Stephen Watler recently returned home following a four-and-a-half year secondment in Maples and Calder’s Hong Kong office.  

Initially planned as a short-term opportunity, it turned out to be an experience of a lifetime, Mr. Watler said in a press release. 

“Although excited to work in a buzzing city like Hong Kong, I wasn’t sure how I would adjust to living in a city halfway across the globe where the people spoke a foreign language,” he said. “My fears were quickly allayed when I arrived at the airport. There were directions in both English and Cantonese, it took less than 30 minutes to get through Immigration and Customs and there was a fast-track train straight into the heart of the city – all signs that Hong Kong is the international hub of Asia.” 

Mr. Watler joined Maples and Calder as a trainee in 2005 and qualified as a Cayman Islands attorney-at-law in 2007. He has also worked in the firm’s London office and completed a secondment at White & Case LLP (London) in their Banking and Capital Markets team. 

Mr. Watler has advised managers and institutional clients based in Japan, Singapore, Hong Kong, China, London and New York on a variety of fund structures ranging from stand-alone to umbrella unit trusts, segregated portfolio companies, exempted companies and partnerships. He also has extensive knowledge of Japanese and Cayman Islands regulatory matters involving retail, administered and registered mutual funds, as well as the restructuring of investment funds. 

“We are happy to welcome Stephen back to Cayman,” said Paul Lumsden, managing partner of Maples and Calder’s Cayman Islands office. “We are also pleased that he had such a rewarding experience working in Hong Kong, providing him with knowledge and skills which he will no doubt be able to apply throughout his legal career and beyond.” 

Grant Thornton names senior tax manager  

Grant Thornton has appointed accountant Raj Nandha as senior tax manager.  

Prior to joining Grant Thornton, Mr. Nandha was a tax manager for a top 20 accountancy practice, dealing with personal, company and trust tax compliance and advisory matters, and an Island Corporate Service Provider, dealing with company and trust tax matters.  

Mr. Nandha, a member of the Institute of Chartered Accountants of Scotland, said, “The opportunity for me to return to practice and work for a large organization was very attractive, especially given the large network of other Grant Thornton member firms. I believe I have gained the experience and knowledge over the past 13 years to assist Grant Thornton Isle of Man in expanding its business and tax offering, and I am looking forward to being part of the growing practice for many years to come.” 

Mr. Nandha has experience of local, national and international tax issues for a broad range of clients and in liaising with tax authorities in the Isle of Man and the U.K.  

Managing Director Dennis McGurgan said, “I am delighted to welcome Raj to our growing team at Grant Thornton. He brings … an enthusiasm for his role which will benefit our clients.”  

Grant Thornton is considered the fifth largest worldwide accountancy practice, with offices in more than 100 countries, including the Cayman Islands. 

CI-Humane

Employees who volunteered at the Cayman Islands Humane Society as part of RBC’s 2014 Day of Service Grant Program are, back row from left: Shan Jefferson, Georgette Ebanks, Raquel Stewart, Elicia Copeland, Sarah Berry, Annie Manderson, Jody Ebanks and her son Tyler Ebanks. Front row from left: Michael Munnings and Miguel Barceló.

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