Business in brief: RE/MAX launches real estate apprenticeship program

Stephen Rivers, the first participant in the RE/MAX Agent Development Program, with Kim Lund, Brigitte Greene and James Bovell.

RE/MAX Cayman Islands has recently launched the RE/MAX Agent Development (RAD) Program, a paid apprenticeship that combines classroom-style learning, on-the-job training and one-on-one mentoring, to train young Caymanians for jobs in the real estate industry.

Stephen Rivers, 17, the first participant, said, “I was interested in apprenticing with RE/MAX because they are a hardworking and accomplished worldwide agency that will provide a solid foundation to start my career.”

The RAD Program immerses participants in RE/MAX’s customer-first, technology-powered philosophy of helping people buy and sell homes.

As part of the comprehensive training and development program, Mr. Rivers will earn his real estate license while being trained on how to guide clients through the home-buying and selling process. He will work with his mentors and a team of trainers.

The initiative is the creation of real estate veteran Brigitte Greene. “As former apprentice myself, I am very excited to be a part of RE/MAX’s apprenticeship program, which will provide Stephen with the tools needed to pursue a career in real estate. He is a great fit for our RE/MAX family and has all of the potential to become a successful sales associate,” she said.

RE/MAX broker/owner James Bovell said, “We are extremely excited about this new program. To have found a candidate like Stephen who is prepared to embark on a three-year commitment to developing a career in our industry is very encouraging.

“He will add a welcome injection of youthful perspective to our established real estate family.”

Digital forensics expert joins KRyS Global

Fraud investigation firm KRyS Global has appointed Jacqui Sanaghan to manage its Forensic Technology Services team.

Ms. Sanaghan specializes in digital forensics and e-disclosure and will be responsible for driving new client engagements in the offshore market.

Before joining KRyS Global, she was primarily based in London, where she led collection, processing, review and production elements for a variety of small and large-scale international engagements related to litigation, arbitration and investigations. Ms. Sanaghan’s experience in forensic technology and data handling services includes multijurisdictional financial services investigations in Europe and the Caribbean.

KRyS Global’s Forensic Technology Services offers data mining and analytics, computer forensics, electronic discovery and hosted litigation solutions.

Maples Group assists AerGen in debut ABS issuance

Maples and Calder and Maples Fiduciary acted for AerGen in connection with a US$324.7 million asset backed loan securitization of a portfolio of 19 narrow body aircraft by Harbour Aircraft Investments Ltd. It was the debut ABS issuance by AerGen, a relative newcomer in the aircraft leasing market. All three tranches of the issuance were oversubscribed.

Aergen Aviation Finance Ltd. will act as servicer to the portfolio and Maples Fiduciary Services (Ireland) Ltd. will act as managing agent to the borrower.

Maples Fiduciary will provide cash management and calculation services, issue monthly statements to loan holders and investors and offer its full suite of company secretarial and accounting services to the Borrower. In addition, Maples Fiduciary is engaged to provide directorship services to the board of the borrower entity and to each of its subsidiary entities.

Maples and Calder provided Cayman Islands legal advice and support to the borrower through its Cayman Islands office, and also provided Irish legal advice to the managing agent through its Dublin office.

DVB Bank SE provided the liquidity facility to the Borrower, while Deutsche Bank Securities Inc. and Goldman Sachs Lending Partners LLC acted as joint lead arrangers for the offering.

EY wins top CPA firm at Captive Services Awards

EY was named the recipient of the top CPA firm at the U.S. Captive Services Awards in Vermont earlier this month for its “significant uptick in its captive focus during the past 12 months and the investment it has made in its captive services team,” as well as “its strong global capabilities to serve some of the largest captive clients in the United States,” according to the award judges.

EY also provided an example of its work with a large client in restructuring its global reinsurance arrangements to save $9 million a year, the judges commented.

The awards recognize providers of captive insurance products and services who have outperformed their competitors and demonstrated the highest levels of excellence over the stated 12 months.

HSM Group adds dispute resolution attorney

The HSM Group has added a new dispute resolution attorney, Kerrie Cox, to its expanding practice. Mr. Cox is a qualified mediator and practiced as a barrister in the U.K. for 12 years. He was admitted as an attorney in the Cayman Islands in 2010.

He spent two years with a local law firm before leaving the islands in 2012 to join a niche family practice in Gibraltar. In 2013, he left the practice to serve as principal Crown counsel in the British Virgin Islands and then returned to the Cayman Islands in 2015.

In his role at HSM, Mr. Cox will undertake a wide spectrum of general dispute work. He is an active member of the newly formed Cayman Islands Family Law Bar Association.

Michael McWatt, managing director, Butterfield Bank Cayman, congratulates Sean Whewell, Butterfield’s 2016 undergraduate scholarship recipient.
Michael McWatt, managing director, Butterfield Bank Cayman, congratulates Sean Whewell, Butterfield’s 2016 undergraduate scholarship recipient.

Butterfield scholarship recipient to study at Durham

Sean Whewell, the recipient of Butterfield Bank’s undergraduate scholarship, is set to start studying marketing at Durham University in September.

Mr. Whewell has just completed his International Baccalaureate at the United World Colleges in New Mexico. He was previously a student at St. Ignatius Catholic School.

“Sean is a high-achieving and charismatic young Caymanian who impressed us with his dedication to his studies, extra-curricular activities and his determination to succeed,” said Catherine Healy, account manager in Butterfield’s marketing department.

“We congratulate Sean and wish him the very best of luck in his studies,” added Butterfield Managing Director Michael McWatt.

The undergraduate scholarship ensures financial support for further education among young people in the community and awards the recipient up to US$30,000 per year, for a maximum of four years of study. The scholarship is available for any course of study that will benefit the Cayman Islands.

The application process for the 2017 scholarship will begin in February.