Business in brief

UBS, Walkers sponsor Ladies in Trusts event 

Cayman’s top female trusts professionals met for an evening of drinks, canapés and industry insight late last month when UBS and Walkers hosted the third Ladies in Trusts networking event. 

Ladies in Trusts began as a result of Walkers partner Shelley White’s belief that there was an opportunity for women in the Cayman Islands trust sector to join forces to stage influential specialist networking events. 

Initially 12 practitioners met for afternoon tea at The Ritz-Carlton, Grand Cayman and decided to establish the Ladies in Trusts group. In the 11 months since, Ladies in Trusts has grown by invitation only to more than 60 members. The group is now becoming established as an important local networking society alongside other similar organizations, such as 100 Women in Hedge Funds and the International Women’s Insolvency and Restructuring Confederation. 

Nicole Coe, marketing manager at Rawlinson & Hunter, said, “We have a large trust and corporate group, the majority of whom are female. Therefore we agreed that ladies in trusts provides an excellent opportunity for our ladies to network with others involved in such an important sector of the Cayman Islands financial industry.” 

Ms. White said, “We are delighted with the wide-ranging support that Ladies in Trusts has received from Cayman’s financial sector. We are also grateful to our sponsors who host these high quality events, and I would like to thank them for their support. We hope our group will continue to grow as it has in its first year.” 

“It’s a fantastic event,” said Valerie Mullen, director of Wealth Management at UBS. “It’s great to have a no pressure environment where ladies can be ladies and make some connections in the industry.” 

The next Ladies in Trusts will be a Christmas lunch in December. Inquiries should be addressed to Lesley Jefferson at [email protected]

Maples expands global private client services offering 

Maples Group, which comprises international law firm Maples and Calder and fiduciary, fund services and private client services provider MaplesFS, has announced strategic hires in the Cayman Islands and Hong Kong, in response to increased demand for private client services. 

Morven McMillan will join Maples and Calder as partner and co-head of Trusts in the Cayman Islands office. A highly experienced international trusts practitioner combining an advisery and contentious trusts and private client practice, she led a London law firm’s trust disputes group before joining Mourant Ozannes’s Cayman Islands International Trusts and Private Client team for several years. She will join the firm in January. 

Peter Goddard recently joined MaplesFS as head of Private Client Services. Based in the Cayman Islands, he is responsible for driving the growth of the Private Client Services business as well as managing relationships, providing technical advice and delivering innovative trust administration solutions to new and existing clients. Mr. Goddard has more than 20 years of experience working with several large Cayman Islands trust companies. 

Scott Somerville, MaplesFS chief executive officer, said, “The appointments of Morven, Peter and Charlie further strengthen our depth of expertise and experience in the private wealth space and support the continued expansion of our service offering globally.” 

DMS hosts Offshore Investment Funds Summit 

DMS Offshore Investment Services Ltd. will host its fifth annual Offshore Investment Funds Summit, in São Paulo, Brazil, on Nov. 12. This year’s summit will focus on the opportunities and challenges for Brazilian fund managers and family offices seeking to set up offshore structures, raise capital and diversify investments. The summit will also explore developments in the local market and international regulations impacting the fund industry. 

DMS Founder Don Seymour, Executive Director Francine Balbina and Managing Director John D’Agostino will be joined by industry experts speaking at the conference. The roster comprises Francisco José Bastos Santos, Superintendent of Institutional Relations (SIR) – Brazil’s Comissao de Valores Mobiliarios (CVM); Phillip Neumann, partner at Campbells law firm; Humberto De Paula Lima Isaac, partner at FreitasLeite; Giorgio Subiotto, partner at Ogier; Dara Chapman, founder of DLC Consulting; Thomas Hickey III, partner and business lawyer with Foley & Lardner LLP; Diego Sanchez, manager at PwC, Mark Salameh, CEO of Context Summits and Erik Mayo, founder and managing partner at Terra Incognita Capital. 

“Our … summit brings together a diverse and well-regarded lineup of speakers and leading professionals to discuss the many issues that are at the forefront of conversations in the fund industry, both in Brazil and globally,” said DMS Chief Executive Officer Anne Storie. “We are confident that their insights – based on experience and sound knowledge of the markets in which they operate – will assist all participants in making informed decisions that will benefit their businesses in future.” 

In conjunction with the summit, DMS will again host a workshop for Brazilian media representatives. The focus will be on family offices and the current trend of investment managers going offshore. The workshop will also cover related regulatory issues and taxation. 

Ms. Balbina said fund managers and family offices in Brazil are looking for information and opportunities to diversify their investments or raise capital offshore. “We hope this summit will help build a bridge between the local and the international market and help the attendees understand not only the market prospects, but the regulatory requirements and market trends, as it has done in the past.” 

This year’s summit is supported by Campbells, the Alternative Investment Management Association, Dukascopy TV, Brazilian-American Chamber of Commerce, Context Summits, Bloomberg, INOVA and Capital Aberto. 

Hurst promotes Cayman at overseas real estate symposium 

International Realty Group Ltd.’s broker and owner Jeremy Hurst highlighted real estate practices in the Cayman Islands at the International Symposium of Leading Real Estate Companies of the World and Luxury Portfolio International in Berlin, Germany, in October. 

“It is important for Cayman Islands real estate professionals to promote our country as an attractive jurisdiction for international investors. Speaking at the 2015 International Symposium added significant scale [to] our real estate market, which will further enable us to focus on targeting an overseas market,” Mr. Hurst said. 

His session touched on how realtors interface with, educate and familiarize their international and local clients with the Cayman Islands real estate market. This included the current state of the market, the types of housing available, high-end market price points, specific growth areas and financing options available to local and international investors interested in real estate in Cayman. 

The event focused on global real estate trends and the delivery of exceptional real estate services, and attracted top real estate professionals from 17 countries. 

LeadingRE is an invitation-only real estate network comprising more than 500 real estate firms in more than 50 countries. 

Ladies in Trusts is a professional body in its first year, providing a networking and support framework for practitioners in Cayman’s trusts and private wealth industry.
Ladies in Trusts is a professional body in its first year, providing a networking and support framework for practitioners in Cayman’s trusts and p
rivate wealth industry.

Jeremy Hurst, owner, International Realty Group

Jeremy Hurst, owner, International Realty Group