Business in brief: Professional accountants’ group has new brand

From left. Ben Leung, Michael Austin , RJ Berry, Sheenah Hislop, Joel Dodson and James George from CIIPA.

The Cayman Islands Institute of Professional Accountants celebrated the official launch of CIIPA last week with more than 70 members, government representatives and members of the financial services industry. It hosted the event at the Institute’s new offices in Gardenia Court, Camana Bay.

CIIPA announced its new name last month to more accurately reflect its role as an educator and regulator.

The organization’s chief executive, Sheree Ebanks, said, “The changing role CIIPA will play going forwards will be critical to the success, reputation and credibility of Cayman as a global financial services center. Our recent name change is part of a process in ensuring that Cayman Islands accountants are equipped to face the current challenges in the marketplace effectively.”

CIIPA secretary and past president, Mike Mannisto, added, “CIIPA is the largest and oldest association in the Cayman Islands, and we have an amazing history over the past 46 years and this adds another historical milestone for CIIPA that we are all very proud of.”

CIIPA is running a communications campaign in the local media and via social media to support the message about its recent name change and to raise awareness about the role the accountancy profession plays in Cayman’s financial services industry.

The campaign is focused on the career and scholarship opportunities that are available to Caymanians; the importance of the accountancy profession to the growth and success of Cayman’s economy as a whole; and the international reputational credibility for the jurisdiction’s financial services sector.

Estera appoints chairman, grows Cayman board

Offshore fiduciary and administration services provider Estera has appointed Roger Siddle as non-executive chairman.
Estera, the former fiduciary business of Appleby, completed a management buyout from the Appleby Group on Dec. 31. The firm employs more than 350 staff across 10 offshore jurisdictions, with 45 employees in Cayman. It launched its new brand in April.

Roger Siddle and Farah Ballands of Estera
Roger Siddle and Farah Ballands of Estera

Mr. Siddle said, “It is an honor and a pleasure to have been appointed chairman of Estera at such a pivotal time in its history.”

For more than six years, until 2007, Mr. Siddle was U.K. managing partner of business consulting firm Bain & Company.

He then became chief executive of BPP Holdings plc, one of Europe’s largest professional training and education companies and, more recently, group chief executive of Findel plc, a U.K. home shopping, educational supplies and healthcare business.

He is currently non-executive chairman of regulatory compliance consulting and software business Cordium and a senior corporate adviser and member of the National Development Board for the National Society for the Prevention of Cruelty to Children. He has an MBA from Harvard University.

In Cayman, the firm appointed Fiona Crellin and Richard Gordon to the board of directors of Estera Trust (Cayman) Ltd. They join board members Farah Ballands, Julian Black and Richard McMillan.

“Fiona and Richard are proven leaders who will drive our business forward,” said Ms. Ballands, chief executive officer of Estera. “These appointments recognize their outstanding work on behalf of the company and their clients, as well as their ability to guide the direction of Estera in Cayman.”

Ms. Crellin is the Trust Services manager of Estera Trust (Cayman) Ltd. and also manages a portfolio of trusts and companies for high net worth individuals.

Mr. Gordon is the Directorship Services manager at Estera Trust (Cayman) Ltd., working on a wide range of corporate structures and investment funds.

Derek Jones appointed to Chamber Pension Plan board

Derek Jones of the Chamber Pension Plan board
Derek Jones of the Chamber Pension Plan board

Derek Jones is a new trustee on the Chamber Pension Plan board. His appointment follows the term fulfilment of a previous trustee, Eduardo Silva.

The Chamber Pension Plan Board of Trustees is made up of nine people who serve on a voluntary basis for three years and are active members in the community, representing a variety of industry sectors. Mr. Jones is one of two trustees appointed by the Chamber of Commerce under the terms of the Trust Deed.

Mr. Jones is the founding president of the Pension Funds Association of Jamaica, as well as chairman of the Red Stripe Pension Fund and the Cable & Wireless Jamaica Pension Fund. A former president of the Bar Association of Jamaica, he is also one of the founding partners of HSM Chambers, a law firm established in the Cayman Islands in 2012.

Paul Schreiner, chairman of the Chamber Pension Plan, said, “On behalf of the entire board, we look forward to working with Derek during his term. I would like to also thank Eduardo Silva for his service to the plan and to the board. Eduardo … provided valuable leadership to the plan. The board thanks Eduardo for his commitment and for the expertise he provided which greatly assisted all members of the plan.”

McWatt named managing director of Butterfield in Cayman

Michael McWatt is the new managing director of Butterfield Bank in Cayman.

In this capacity, he will lead Butterfield Group’s Cayman operations and will have overall responsibility for Community Banking functions in Bermuda and Cayman. Mr. McWatt is also an executive director on the Board of Butterfield Bank (Cayman) Limited.

Mr. McWatt’s appointments took effect concurrently with the retirement of Conor O’Dea, who was previously managing director of Butterfield Bank (Cayman) Limited and group president and chief operating officer.

Mr. O’Dea is now non-executive chairman of the board of Butterfield Bank (Cayman) Limited and a non-executive director of the Butterfield Group board.

Mr. McWatt is a career banker with more than 25 years’ experience in Canada, Bermuda and the Cayman Islands. For the last nine years, he was the deputy managing director of the bank in Cayman.

He began his career at Toronto Dominion Bank in Canada and Scotiabank in Toronto before joining Butterfield in 1999.