Business in brief

Promotion at CIMA 

The Cayman Islands Monetary Authority has promoted Judiann Myles from chief policy and development officer to deputy head of Policy and Development. 

Mrs. Myles began her regulatory career with the Authority in 1999 in the Investments and Securities Division, where she held various positions before becoming chief analyst in 2007. 

In 2009, Mrs. Myles transferred to the Policy and Development Division, where she developed regulatory measures and coordinated private sector consultations, as well as monitored domestic and international financial regulatory developments.  

She has extensive regulatory training, including a six-month secondment with a local audit firm and various training programs hosted by the Caribbean Financial Action Task Force; the World Bank; the Financial Stability Institute, and the United States Securities and Exchange Commission.  

CIMA Managing Director Cindy Scotland said, “We are very pleased to have been able to fill this key position from within the authority, and to recognize and encourage the professional development of another young Caymanian. Judiann has had the benefit of working in two CIMA divisions, and this experience, coupled with her training and industry exposure will serve her well in this new role.”  

DCI hosts EU small business program meeting 

The Department of Commerce and Investment recently hosted a meeting for an EU program that aims to strengthen the ability of Caribbean Overseas Countries and Territories to service their countries’ business sectors.  

Caribbean OCTs Small and Medium Enterprises, hosted at the Westin resort, aims to contribute to the sustainable and climate-resistant economic diversification and prosperity of the Caribbean OCTs by improving the competitiveness of their small and medium enterprises, said DCI Director Ryan Rajkumarsingh. 

COSME steering committee members from the 12 Caribbean Overseas Countries and Territories attended the meeting in Cayman, which built on progress made in early October during a meeting held in St. Maarten.  

Mr. Rajkumarsingh said that US$15 million in funding has been earmarked by the EU for COSME.  

The Cayman meeting was opened by Councilor Roy McTaggart of the Ministry of Financial Services and Commerce. He encouraged committee members to “think big, for the greater good,” because every small- and medium-sized enterprise forms the backbone of their countries’ economies.  

After deliberations and agreement by the committee members, the COSME consultants will now take the approved projects to the EU for final approval and funding.  

Glen Wigney joins Five Continents 

Five Continents Financial Ltd., a Cayman Islands-based asset management and corporate services company, has launched its governance services offering, which will be headed by former Deloitte partner Glen Wigney. 

The expansion into governance services comes 20 years after the launch of the firm, which began with seed capital from N.M. Rothschild & Sons. 

Mr. Wigney has more than 30 years’ experience with Deloitte in Canada, Cayman, and most recently, the United States.  

“Fund investors and investment managers are demanding enhanced fund governance with independent professional judgment applied in a businesslike manner. I believe that when my experience is combined with the asset management, corporate and legal expertise of the founding partners of Five Continents, our offering is differentiated in the marketplace and is second to none,” he said.  

CUC declares dividend 

The board of directors of Caribbean Utilities Company has 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 Dec. 15 to shareholders of record Dec. 1, 2014. 

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.  

SteppingStones hires through Young Parents Program 

SteppingStones has taken advantage of the Young Parents Program by hiring a woman who company representatives met when volunteering for the program.  

The Young Parents Program was developed by the Children and Family Services Department to provide training and work placement assistance for young mothers in the Cayman Islands. 

Sharon Woodman was introduced to the company through the program when SteppingStones volunteered by providing seminars and workshops on resumé writing, interview preparation, worth ethics and other relevant subjects. Mrs. Woodman was initially hired part-time but recently accepted a full-time administrator position with the company. 

“We were more than happy to volunteer our services to a great program like YPP, and always on the lookout to do our part to develop the homegrown talent here in Cayman. Sharon is a perfect example of the benefits companies like ours can receive from getting involved with these valuable programs,” said Milly Serpell, managing director at SteppingStones. 

In other news at SteppingStones, Rosie Dunsford has been promoted to the position of senior recruiter after three years with the company. 

Promotions at Carey Olsen  

Jan Golaszewski, a dispute resolution and litigation specialist, has been promoted to partner in Carey Olsen’s Cayman Islands office, bringing the total number of partners across the firm’s global litigation team to 12. 

Mr. Golaszewski has a broad range of experience in offshore and investment fund litigation with an emphasis on complex multi-jurisdictional commercial, arbitration and regulatory matters. He was admitted as a solicitor in England and Wales in 2003 and as an attorney at law in the Cayman Islands in 2008. He has also practiced in the London and Hong Kong offices of Freshfields Bruckhaus Deringer.  

The Cayman Islands office has also promoted trust expert Graham Stoute to counsel. He advises private and institutional clients on Cayman Islands and BVI trusts, as well as on wills and estate planning matters, probate applications and the administration of complex estates.  

Mr. Stoute was admitted as a solicitor of the Supreme Court of England and Wales in 2005, as an attorney at law in the Cayman Islands in 2010 and as a solicitor of the Eastern Caribbean Supreme Court (BVI) in 2013. He formerly worked for Freshfields Bruckhaus Deringer in London.  

Local artists featured 

The Visual Arts Society has expanded its presence by featuring local artwork for sale in commercial office spaces.  

Last month, Dinner Martin Attorneys hosted an art exhibition and champagne reception for invited guests to view and purchase artwork and also learn about the firm’s services. The event also celebrated the 35th anniversary of the VAS. 

Mary McCallum, marketing coordinator for VAS, said the project came about roughly a year ago when Dinner Martin Attorneys, close friends of the VAS, offered wall space in their office for free to help talented local artists gain exposure. 

The project gives artists with VAS membership the opportunity to sell their artwork to clients and colleagues of the firm who are looking to decorate their homes or offices.  

“It’s a win, win for everybody,” said Ms. McCallum. 

Several pieces have already been sold, and now other commercial tenants have asked to participate in the project. 

For more information on the artists and artwork available, email [email protected] 

BritCay donates to Hospice Challenge 

British Caymanian Insurance has donated of $5,000 to the Rotary Club of Grand Cayman in support of the Six 4 Hospice Challenge. 

Cayman veteran runner Derek Haines has committed to running six mar
athons in the hopes of raising $1 million for the Cayman Hospice Care.  

John Cameron, acting general manager of British Caymanian, said, “Many people do not think about the value that hospice care provides until their families or friends are faced with the need. We are committed to supporting such a worthy cause and wish Derek the best of luck during his final race.” 

Caribbean practitioner honored 

Roland Jones of RBC Wealth Management in Barbados has been honored with a Founder’s Award for Outstanding Achievement by the Society of Trust and Estate Practitioners. Mr. Jones was among six winners recognized for his contribution to the field at STEP’s inaugural Global Congress in Miami on Nov. 6. 

The Founder’s Awards are presented to STEP members who have made a long-term contribution above and beyond that normally expected of a member in their branch or elsewhere in the voluntary life of STEP. Mr. Jones was nominated for his extensive service and effective management of multiple responsibilities with STEP, including serving as chair of the Barbados Branch. 

STEP Chief Executive David Harvey said: “Roland has been a dedicated chair of both the Barbados Branch and of STEP in the Caribbean and Latin America regions. He sits on multiple STEP committees representing the best interests of his branch and the wider industry and his approach has been commended by his peers. I wholeheartedly congratulate him on his well-deserved Founder’s Award.” 

Visual-Arts-Society

Visual Arts Society collaboration: From left, Allyson Speirs, Theresa Pitcairn, David Dinner, Michael Wingrave, Randall Martin, Katalin Radvanyi and Dominika Chrachalova with some VAS artists’ works.