Business in Brief: Cayman Finance delivers Bar Association student chapter lecture

Cayman Finance CEO Jude Scott gave the Cayman Bar Association’s annual Student Chapter lecture.

The Caymanian Bar Association and Cayman Finance joined forces at the CBA’s annual Student Chapter Lecture and Summer Social on Aug. 10.

Jude Scott, CEO of Cayman Finance, delivered the lecture, hosted by Ogier, and highlighted the strength and importance of the Cayman Islands as a premier global financial hub that efficiently connects users and providers of capital and financing around the world.

He noted that financial services annually contribute about US$1.5 billion to Cayman Islands GDP, and more than 50 percent of government’s annual revenue.

“Cayman Finance was honored to have an opportunity to leverage our relationship with the CBA to communicate these important messages to the students and respond to their insightful questions,” Mr. Scott said.

CBA President Abraham Thoppil said the lecture “was invaluable in providing student members with an appreciation of the importance of our financial services industry and how global events impact our Islands.”

The Bar Association will next host the annual CBA Gala at the Marriott on Sept. 10.

Tortuga Rum Company appoints new general manager

Jeremy Ebanks is the new general manager of Tortuga Rum Company Ltd.

Tortuga owner Robert Hamaty said, “We are proud to introduce Jeremy as our new general manager. He is quite familiar with our business and he brings many years of experience and knowledge to the company. He will assist us in continuing to grow and lead our Retail and Distribution business into the future.

“We know that Cayman has a wealth of hardworking and committed individuals, that’s why it was so important to Carlene and myself to hire locally for such an important position.”

Mr. Ebanks was previously with the company from 2007 until 2010. He left to open his own business, and owns and operates Fluff n’ Fold Dry Cleaning & Laundry Services in Camana Bay. Before working in Cayman, he worked for Enterprise Rent-A-Car, and served as a manager in the Commercial Truck Division in New Orleans, Louisiana.

“Coming back to Tortuga was like reuniting with old family. I have a tremendous amount of respect and admiration for Mr. and Mrs. Hamaty,” Mr. Ebanks said. “I am grateful for the opportunity to return to do something that I have a great passion for. I believe it is paramount to love where you work and love what you do and I feel we have great staff that feel the same way.”

Tortuga Rum Company, founded in 1984, has 15 retail locations in Grand Cayman and Cayman Brac.

David Titcombe, Hawksford chief operating officer
David Titcombe, Hawksford chief operating officer

Hawksford appoints chief operating officer

Hawksford has appointed David Titcombe as chief operating officer. Mr. Titcombe has 25 years’ financial services experience and will be responsible for building the profile of Hawksford’s Cayman office, established in November 2015, the development of the Cayman team, and the company’s corporate and private client offering internationally.

Hawksford was granted a Trust License by The Cayman Islands Regulatory Authority in September 2015, allowing the company to provide a full range of trust services to private client and corporate clients in the region.

Mr. Titcombe has experience in offshore planning and the management of complex tax compliant, offshore structures. He has particular expertise dealing with corporate and personal affairs for high net worth entrepreneurs, private family offices, and other high net worth individuals. Before joining Hawksford, he was managing director of Jencap Advisors for two years and, before this, he was managing director of Barclays Private Bank and Trust (Cayman) Ltd. He has also held senior roles in the Isle of Man, Bermuda and the Cayman Islands for a number of banks and trust companies, including Coutts, Butterfield Bank and Ansbacher.

Butterfield receives U.S. Captive Services Award

Butterfield won the award for best Collateral Service Provider – Letters of Credit from Captive Review in its 2016 U.S. Captive Services Awards.

The U.S. Captive Services Awards annually recognize excellence and innovation in the provision of services to captive insurers.

The judges noted that they were “impressed” by Butterfield’s range of letter of credit options for captive clients and the bank’s “clear commitment to customer care” through dedicated individual points of contact and “strong experience in serving the captive sector in the largest offshore domiciles.”

Sean Smatt, Butterfield’s executive vice president and Group Head of Corporate Banking, said locally domiciled insurers are a key constituent of the bank’s corporate credit business in Bermuda and Cayman.

“Today, through our overseas offices and our worldwide correspondent network, Butterfield issues letters of credit in all major currencies and can have them advised through virtually any country in the world,” he added.

Captive Review named Bermuda the best Offshore Captive Domicile in its 2016 awards, noting the island’s “diverse nature and strong infrastructure” and its recently attained Solvency II equivalency as key factors in its decision.

From left, Walkers scholarship recipients Lloyd Barker, Aoife Murphy, Sophie Cater and Alexander McGrath.
From left, Walkers scholarship recipients Lloyd Barker, Aoife Murphy, Sophie Cater and Alexander McGrath.

Walkers announces four new scholarship recipients

Walkers has awarded four legal scholarships, to Lloyd Barker, Sophie Cater, Aoife Murphy and Alexander McGrath, following its 2016 recruitment drive. The law firm currently sponsors 11 legal scholars, who are all at different stages in their academic development.

Mr. Barker and Ms. Cater are due to embark on their professional qualification courses and Ms. Murphy and Mr. McGrath are about to begin their second year of university. All four scholarship recipients completed a legal internship during August where they worked alongside Walkers’ associates in three of Walkers’ core practice areas: investment funds, insolvency and dispute resolution, and finance & corporate.

Anthony Partridge, chair of Walkers Trainee Committee, said, “I am very excited to welcome Lloyd, Sophie, Aoife and Alexander to the Walkers scholarship program, as they were the standout candidates in a very competitive group of Caymanian students. Cayman’s legal future is in good hands with these outstanding young adults.”

Caymanian litigator joins HSM Group

The HSM Group has welcomed Tonicia Williams to its practice. Ms. Williams is a Caymanian attorney who graduated from Kingston University in England in 2009. She joined HSM in July 2016 and will be primarily focused on civil litigation, being an active member of HSM’s debt solutions practice.

Ms. Williams began her law career at the Cayman Islands General Attorney Chambers and was called to the Bar in the Cayman Islands in 2014. She has experience in a wide range of diverse civil litigation matters, acting for banks, strata corporations and leading businesses based both in the Cayman Islands and overseas.

Estera sponsors Cayman Touch Rugby at U.S. Nationals

Fiduciary services provider Estera is sponsoring the Cayman Islands women’s touch rugby team, which will compete in the U.S. Touch Nationals from Oct. 13-16.

It is the first year the Cayman Touch Association is sending a women’s team to the event in Orlando, Florida. Estera’s sponsorship will help pay for kits that will be worn by the women’s team during the competition.

“Touch is growing in popularity in the Cayman Islands, and it’s a privilege for Estera to be able to support a local team whose dedication has carried them to the U.S. national event,” said Julian Black, group director of Estera. “We wish all the teams representing Cayman the best of luck in the competition.”

Touch, originally developed as a variant to play in the rugby off-season, takes the basis of rugby but removes much of the contact in exchange for increased agility from the players. The CTA provides a framework, including competitions and player development, for all those passionate about the sport.

In addition to the women’s team, the CTA will be sending men’s teams in the Over-30, Over-40 and open categories.

“Women’s touch is expanding globally and I’m honored to be on the first women’s team Cayman is sending to the U.S. national event,” said Estera Corporate Administrator Chandra Friesen, a longtime touch player who has been on the CTA women’s team since the association started about three years ago.