Business in brief

HSM Group opens corporate services company  

HSM Group has launched HSM Corporate Services Ltd., a corporate services provider regulated by the Cayman Islands Monetary Authority that offers company formation, registered office and other related services. 

“We have long recognized the need for a dedicated corporate services offering within the group to service both our private clients and corporate clients,” said Huw Moses, a director of HSM Corporate Services. “We believe the extension of our brand in this way will provide the opportunity for clients to have a highly personalized service level from a specialist team. For clients also looking for legal support from time to time, this will provide an ideal home for their companies.” 

HSM Group was established in 2012. The group has a combined staff of 45 and consists of three entities: HSM Corporate Services, HSM Chambers (offering legal services) and HSM IP (a specialist intellectual property law practice). 

First graduates complete compliance certification course  

The International Association of Certified Compliance Specialists has announced the first candidates have graduated from its compliance certification program. Marco Capelli and Crystal Hennings are the first to receive the designation of Certified Compliance Specialist after completing the required courses in less than 10 months. 

“We are delighted to have Crystal and Marco as our first graduates. It’s a testament to the quality of our program that we are attracting such accomplished industry professionals,” said IACCS chairwoman Karen O’Brien. 

IACCS recently developed the rigorous program aimed at creating a complete curriculum for compliance. “This is the only program of its kind. All of the other courses focus on smaller sections of the compliance function, primarily money laundering. We take a comprehensive approach and cover the broader skill set required in this challenging regulatory environment,” Ms. O’Brien said. 

The program was developed and written in Cayman and is being rolled out internationally. While local candidates can avail themselves of the Cayman facilities, the course is Web-based and self-directed, so is accessible anywhere. 

IACCS is a global organization focused on the development and advancement of the compliance profession. 

Vistra expands in Cayman with new managing director  

Vistra, a provider of corporate, trust and fund administration services, has expanded its Cayman Islands operations and recruited a Cayman resident managing director. 

Clive Gibbons will lead Vistra Cayman Trust Ltd. He has more than 15 years of offshore experience in the banking, trust and corporate services sector. He has sat on numerous boards as a director during his career and is a member of the Cayman Islands Directors Association. 

Vistra Cayman’s services will include the establishment of a broad range of Cayman trust, corporate and partnership structures; trustee and administration services; and the provision of corporate and individual director and nominee shareholder services. 

Simon Filmer, managing director of Vistra BVI, with regional responsibility, said, “We are very pleased to have Clive join the Vistra Group. While Cayman is known as the leading funds jurisdiction, we are seeing increased demand for limited partnership and other more sophisticated structures, as requested by international investors. Demand from Asia, in particular, has grown significantly in 2015, with Cayman incorporation numbers up by 40 percent. It is therefore an optimum time to expand our operations.” 

Jennifer Parsons joins Mourant Ozannes  

Offshore law firm Mourant Ozannes has announced that Jennifer Parsons has joined the Cayman Islands office as counsel. She will be part of the Corporate and Investment Funds practices. 

Prior to joining Mourant Ozannes, she spent seven years with another offshore law firm in the Cayman Islands. 

Her primary focus and experience has been in investment funds, securities investment business and corporate and commercial work. 

Cayman Enterprise City promotion  

Cayman Enterprise City, Cayman’s special economic zone, has promoted Sasha Carrig to its client services team. Ms. Carrig joined CEC two-and-a-half years ago as the marketing and business development coordinator. In her new position, she will work directly with zone companies going through the setup process and assist employees relocating to the Cayman Islands. 

Ms. Carrig will also manage CEC’s online jobs portal and the zone’s internship program, both measures created under the Enterprise Cayman initiative to connect Caymanians with opportunities at CEC. The jobs portal allows jobseekers to apply online for positions being offered by zone companies. 

“I plan to be heavily involved in helping my fellow Caymanians with job opportunities within the zone,” she said. “This will be an incredibly rewarding aspect to my job.” 

Ms. Carrig also manages CEC’s “Summer in the City” internship program, which offers students the opportunity to check out various career paths by working with zone companies. 

CEC said Ms. Carrig exemplifies the opportunities CEC wants to make available for young Caymanians as the zone continues to grow. 

RBC sponsors golf tournament with Red Cross  

RBC Royal Bank continues its 18-year partnership with the Cayman Islands Red Cross as the title sponsor of the 2015 Annual RBC/Charitable Golf Tournament on Sept. 4 at the North Sound Golf Club. 

Michael Munnings, RBC Royal Bank country manager said, “We encourage participation as each year this event offers fun for all, while raising money toward a worthy cause. We are also grateful for all the volunteers who ensure that all aspects of the tournament run efficiently.” 

Money from the event will benefit the four main program areas of the Cayman Islands Red Cross: disaster management; first aid and CPR training; HIV and AIDS education; and the thrift shop as well as volunteer development. 

“For over 50 years, the Red Cross has supported families and individuals in the Cayman Islands,” said Jondo Obi, director of the Cayman Islands Red Cross. “The funds raised at this event are instrumental for us to continue to offer the various educational/awareness community programs, establish community emergency response teams and ensure that individuals and communities are better prepared to withstand any disaster or emergency. We are extremely grateful for the support of RBC Royal Bank and that of all of our sponsors and volunteers.” 

Maria Phillip, vice president of Client Services and Operations, left, and Sasha Carrig, newly promoted client services executive at Cayman Enterprise City
Maria Phillip, vice president of Client Services and Operations, left, and Sasha Carrig, newly promoted client services executive at Cayman Enterprise City.

Jennifer Parsons is the new counsel at Mourant Ozannes.

Jennifer Parsons is the new counsel at Mourant Ozannes.

IACCS chairwoman Karen O

IACCS chairwoman Karen O’Brien, center, with graduates Marco Capelli and Crystal Hennings.

Clive Gibbons joins Vistra Cayman Trust Ltd.

Clive Gibbons joins Vistra Cayman Trust Ltd.