Business in brief

DMS hosts summit in Brazil 

DMS Offshore Investment Services Ltd. will host its annual Offshore Investment Funds Summit in São Paulo, Brazil, on Nov. 18, focusing on the opportunities and challenges for Brazilian asset managers seeking to raise capital offshore, and developments in the local market with investment diversification and institutional fundraising. The summit will also examine new international regulations impacting the fund industry. 

“Changing dynamics in the international financial markets and new and increasing international regulations present us with a timely opportunity to discuss their impact on Brazilian fund managers and the Latin American financial markets in general,” said Anne Storie, chief executive officer of DMS. “We have assembled a strong lineup of experts who will each bring to the summit unique and well-informed perspectives based on their market experiences.”  

DMS founder Don Seymour and Executive Director Francine Balbina will be joined by several industry experts speaking at the conference. The roster comprises Alan Craig, partner at Campbells law firm; Alper Ince, managing director and partner of Pacific Alternative Asset Management; Fred Jacobs, managing director of SS&C Global Op Alternative Investment Division; Ana Cecilia Manente, partner in the firm of Levy & Salomão Advogados’s Corporate & Capital Markets Group; Cary J. Meer, partner in K&L Gates’s Washington, D.C. office; Daniel Walter Maeda Bernardo, who is responsible for the management of registrations and authorizations at Brazil’s Comissao de Valores Mobiliarios; Dara Chapman, founder of DLC Consulting; Francisco Reis, Jr., an executive with the pension fund division of Grupo Icatu; Leonardo Camozzato, managing partner at HMC Itajuba; Luke Wilson, a managing director with ACA Compliance Group, and Thomas Hickey III, partner and business lawyer with Foley & Lardner LLP. 

New Morritt’s Resort manager 

David Morritt, developer and president of Morritt’s Properties Ltd., has named industry veteran Willy Giger as resort general manager of the 206-suite Morritt’s Resort. 

Mr. Giger served at Morritt’s Tortuga Club as senior vice president and general manager from 1992 to 1999.  

“Morritt’s Resort has achieved much success in our 25-year history, and with the appointment of Willy Giger as the resort general manager, I know we will be able to implement the next chapter of our plans for the property,” said Mr. Morritt. “Willy brings extensive knowledge and understanding of resort operations, particularly in the Cayman Islands, that will enhance our product offering and vacation experience for guests. I am happy to welcome back Willy to the Morritt’s family.”  

Mr. Giger has served as general manager at several other resorts in the Cayman Islands, including the Britannia Villas & Britannia Estates, Grand Cayman Marriott Beach Resort and Royal Resorts. In the early part of his career, he was the director of food and beverage at Renaissance International Treasure Island Resort.  

Most recently, Mr. Giger was a partner with RGB Consulting where the team provided consulting services for new acquisitions and developments, resort operations and food and beverage management for resorts across the Philippines and Malaysia. 

Mr. Giger has twice been named Hotelier of the Year by the Cayman Islands Hotel and Condominium Association (in 1989 and 1998). He was nominated as General Manager of the Year by the American Resort Development Association in 1994 and 1995 and earned an ARDA silver award in 1996 and 1997, as well as a gold award in 1997. 

The Morritt’s Resort includes the Morritt’s Tortuga Club, Morritt’s Grand Resort, Morritt’s Residences and The Londoner.  

Grace period ends for director registration 

The Cayman Islands Monetary Authority has issued a notice informing the financial industry that all natural persons who are directors and failed to apply for registration or licensing under the Directors Registration and Licensing Law, 2014 by the Sept. 4 deadline must apply to CIMA no later than Nov. 30. 

The notice reminds delinquent directors that they are not allowed to act as directors on any covered entities until they are registered or licensed. 

Covered entities with delinquent directors acting on their boards could be subject to enforcement action by the authority. 

Corporate directors are reminded that they must apply for a license as a corporate director by Dec. 4. 

Willy-Giger

Mr. Giger

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