Business in brief: Appleby announces management changes

Offshore law firm, Appleby, has announced a series of changes to its management team following the completion of the management buyout of its fiduciary business in December.

Michael O’Connell has been reappointed as group managing partner, and will sit on the group’s management board alongside dispute resolution group head, Andrew Bolton; corporate group head, Cameron Adderley; Isle of Man managing partner Faye Moffett; and Fraser Robertson, who leads the dispute resolution team in Jersey.

The three-year terms are effective immediately, a press release from Appleby stated.

“Our refreshed board membership takes responsibility for setting and implementing the Group strategy. Collectively we are focused on ensuring that, post the MBO, a renewed drive to our business across all jurisdictions delivers real momentum to our growth strategy, and enables us to continue to gain market share,” said Mr. O’Connell. “I would like to congratulate all those involved and I look forward to working with them.”

Appleby has also transferred, as part of this process, chairman duties to the group managing partner. Frances Woo, who served as group chairman for the past three years, has stepped down from this role, but will continue to lead the Hong Kong office, as managing partner.

Mr. O’Connell added, “I would like to thank Frances for her tireless efforts over the last three years as the Group’s Chairman. She has been an inspirational chairman and has steered us through a period of enormous change with great wisdom and integrity.”

Lasco Cayman, local distributors of the Jamaica-based Lasco brand of grocery and beverage items, is a big supporter of the Adventist 10K.
Lasco Cayman, local distributors of the Jamaica-based Lasco brand of grocery and beverage items, is a big supporter of the Adventist 10K.

Adventist 10K run gets sponsorship boost

Lasco Cayman, local distributors of the Jamaica-based Lasco brand of grocery and beverage items, has committed to extend to 2018 its sponsorship of the annual Seventh-day Adventist 10K Run/Walk.

This will make it a five-year, $10,000 deal, since the sponsorship arrangement started in 2014.

Dr. Ivor Harry, past Youth Director of the Cayman Islands Conference of Seventh-day Adventists and previous organizer of the annual 10K race, made the announcement last month at the church’s annual convention at the Lions Centre.

“We are very pleased with the involvement of Lasco over the past two years and we have been happily receiving the checks each year,” Dr. Harry said, as one of the directors of the company presented him with another disbursement from the $10,000 commitment. Dr. Harry was also presented with a collection of commemorative items.

Each year, Lasco features a different item from its range of products. Last year, the item was its ICool Water and Fruit Drinks. In addition to a cash donation, Lasco provides refreshments, donates products and T-shirts, and presents consolation prizes.

The annual Adventist 10K has been a fixture on the Cayman Islands running calendar for the past 25 years, attracting athletes from Mexico, U.S. and Jamaica. The next 10K Run/Walk will be staged on Nov. 20.

CUC announces dividend on Class A ordinary shares

Caribbean Utilities Company’s board of directors 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 March 15 to shareholders of record March 2, 2016.

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