Business in brief

Stepping Stones promotion 

Recruitment agency SteppingStones has promoted Chelsea Flynn to senior recruiter of the Temporary Recruitment Division.  

Ms. Flynn began with the firm in August 2013 as a staffing coordinator. Prior to joining SteppingStones, she worked for two international recruitment organizations in Manchester, England and Boston, Massachusetts.  

Ms. Flynn has specialized experience in a variety of industries, including financial services, legal, engineering and IT. 

“Chelsea has been a key member of SteppingStones since we hired her, and we are thrilled to announce her promotion to the senior team,” said Milly Serpell, managing director. “She is a walking example of the success one can have within SteppingStones when you are committed to our core values and are personally motivated to be successful.” 

Carey Olsen expands litigation practice  

Offshore law firm Carey Olsen has launched a litigation and insolvency practice in the British Virgin Islands. The firm established its BVI office in 2013 with an initial focus on international commercial transactions, investment funds and offshore structures.  

The firm’s new litigation practice will be under the leadership of BVI solicitor advocate Ben Mays, who joins the firm as partner and head of BVI litigation. Mr. Mays has extensive commercial litigation experience with a focus on complex contentious and non-contentious cross-border insolvency.  

An Oxford University graduate, he has worked offshore since 2003 in the Cayman Islands and the BVI. He was admitted to practice in the BVI in 2004. 

The BVI practice is supported by partners Andreas Kistler and Marcus Pallot, and of counsel Jeremy Garrood, who are also admitted to practice in the BVI and are based in the firm’s Jersey office. Mr. Mays’s appointment brings the total number of partners across the firm’s global litigation practice to 13.  

Clinton Hempel, BVI managing partner, said: “The launch of our BVI litigation and insolvency arm is an important development both for our clients and the firm as we grow the practice internationally. Carey Olsen’s litigation practice in the BVI, Cayman Islands, Guernsey and Jersey covers the full spectrum of advisory, semi-contentious and contentious work.  

Deutsche Bank recognition 

Just over 18 months after re-establishing its trust administration team in the jurisdiction, Deutsche Bank in Cayman has been recognized for its trust and succession planning expertise in the Euromoney 2015 Private Banking Survey. 

The bank was awarded “Best for Succession Planning, Advice and Trusts” in the Cayman Islands. 

The results of the survey form the basis of the Euromoney Private Banking Awards, which were held on Feb. 12 at Plaisterers Hall in London. 

In 2013, Deutsche Bank strengthened its trust capabilities for private clients by re-establishing a trust administration team in the Cayman Islands. 

The Private Client Trust Administration Center supports Deutsche Bank’s long-established Cayman trust company, while the private client trust business forms part of Deutsche Bank’s Asset & Wealth Management Division and falls under its Global Trust Solutions banner. 

Stuart Bray, head of Global Trust Solutions for Deutsche Bank in the Cayman Islands, said: “When we re-established the administration center in 2013, it represented an exciting opportunity for our Cayman trust business, so it is extremely pleasing that now we are seeing that becoming a reality. The business is evolving with a growing team and more than 350 client entities now repatriated to Cayman, and we are now recognized by our peers as the best in the region. 

“[We] continue to see particular growth in the Americas where Cayman trust structures remain highly popular with Deutsche Bank’s global client base for multi-jurisdictional wealth and succession planning.” 

Janet Hislop, chief country officer of Deutsche Bank in the Cayman Islands, added: “Having had a presence in the Cayman Islands for more than 30 years now, Deutsche Bank remains fully committed to the jurisdiction and is continuing to build on its range of specialist services.  

“We are currently seeing growth across the range of services we offer our client base, which includes asset managers and service providers, trust companies, family offices, corporates, pension funds and law and accountancy firms across the Caribbean and the U.S., and I am delighted that our private client, trust and succession planning expertise is now considered by these rankings to be the best in a jurisdiction that is seeing rapid growth in this area.” 

SS-Chealsea

Ms. Flynn
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