Business in brief

Elian appoints group chairman 

John Connolly has been appointed group chairman of corporate service company Elian.  

Formerly the global chairman and global managing partner of Deloitte, Mr. Connolly had a 44-year career in professional services. Since retiring from Deloitte in 2011, he has been appointed chairman at FTSE 100 companies G4S plc and Amec Foster Wheeler plc. 

Elian has also launched an ID Check app that provides a paperless alternative to certified true copies for individual client due diligence purposes. The app aims to simplify the process for submission of personal customer due diligence information. Behind the scenes, Elian Due Diligence Services will then apply a range of e-verification methods and provide a comprehensive, single-page verification report to the firm to satisfy applicable anti-money laundering requirements. 

Island Heritage has new building 

Island Heritage Insurance has a new flagship building, Island Heritage House, and a new customer center.  

Island Heritage acquired the Atlantic Star House building on Lawrence Boulevard in 2013. Renamed Island Heritage House, the three-story, hurricane-rated facility has more than 12,000 square feet of office space. The new customer center is on the first floor.  

CUC closes private placement 

Caribbean Utilities Company closed a US$50 million private placement consisting of US$30 million 3.65 percent senior unsecured notes due Nov. 25, 2029, US$5 million 3.85 percent senior unsecured notes due Nov. 25, 2034, and US$15 million 4.53 percent senior unsecured notes due Nov. 25, 2046. 

The debt offering was privately placed with institutional investors in the United States with CIBC World Markets Corp. acting as sole placement agent.  

Proceeds from the offering will be used to finance the development of a 39.7 MW diesel power plant and other capital expenditures. 

Walkers lawyers recognized 

Walkers Global Managing Partner Ingrid Pierce and Senior Counsel Monique Bhullar were named in Citywealth’s 2014 IFC Power Women Top 200. 

The list highlights women who are opinion formers, helping to promote business excellence in their home jurisdiction, and consolidating the reputations of the financial services industry globally.  

Ms. Pierce is the head of Walkers’ Cayman Islands Investment Funds Group, and Ms. Bhullar is senior counsel in Walkers’ Global Trusts Group. 

Cable & Wireless earns Cisco certification 

Cable & Wireless Communications announced it has achieved the Cisco Cloud and Managed Services Advanced Certification. The certification is part of the Cisco Cloud and Managed Services Program, focused on helping partners envision, build, market and sell cloud and managed services with business acceleration tools and services, sales training and the Cisco Cloud Marketplace to address the varied needs of its customers.  

As a Cisco Cloud and Managed Services Advanced Certified Partner, Cable & Wireless will offer Cisco-powered services and provide basic management capabilities that support Cisco technologies. 

New hire at Enhance  

Investment oversight services provider Enhance has appointed Gabriela Hanulova as a wealth consultant assistant. Ms. Hanulove has nine years’ experience in the finance sector in Cayman and Guernsey, including corporate administration, compliance and client relationship management. 

Appleby advises on Hong Kong listing 

Appleby acted as leading counsel for EGL Company Holdings Ltd. (EGL Tours) in its listing on the Main Board of the Hong Kong Stock Exchange on Nov. 28. The listing raised net proceeds of approximately HK$114.5 million. 

EGL Tours will use the majority of the proceeds for enhancement of sales channels, promotion of brand image and recognition, and strengthening operational infrastructure. The remaining proceeds will be used for development of overseas wedding tours, as well as for general working capital and other general corporate purposes. 

Island-Heritage-Grand-Opening-Flagship

Governor Helen Kilpatrick and Gavin Arton, chairman, BF&M Ltd., cut the ribbon at the grand opening of Island Heritage House.

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