Business in brief

SteppingStones opens U.K. office

Recruitment firm SteppingStones has announced its international expansion, with the opening of a U.K. office to serve recruitment needs for various markets in Europe.

The U.K. office officially launched on Feb. 1. The U.K. branch has been accredited by The Recruitment & Employment Confederation (REC) in the U.K. and will specialize in permanent recruitment and executive recruitment for the legal and financial services industries in the United Kingdom, Ireland, Channel Islands, Luxembourg, the Isle of Man and other offshore jurisdictions, the company said.

The U.K. office is led by Chelsea Flynn, who gained international recruitment experience working in the U.K., the U.S. and the Caribbean.

Ms. Flynn has a Law Degree and experience in the financial services and legal fields and trained in management under the International Leadership Management (ILM) course.

“We are so thrilled to announce the international expansion of our company and to have someone with Chelsea’s talent and experience to lead the new office,” said Milly Serpell, Managing Director at SteppingStones Recruitment. “In recent years, we’ve had a significant number of clients inquiring about using our recruitment services for other offshore offices, and so we have now decided to make this big step. It’s amazing to think that 12 years ago this journey began from my dining room table.”

Sackville wins Caribbean Trust Company of the Year

Sackville Bank and Trust Company has been awarded Trust Company of the Year 2017 – Caribbean, at this year’s Citywealth International Finance Centre Awards.

Managing Director Michael Halsey, Deputy Managing Director Andrew Needham and Chairman Richard Rees-Pulley attended the award evening. “We are delighted to receive such an accolade after only receiving our Trust license three years ago. It is an incredible endorsement to the team’s efforts in delivering superior service to our clients and advisors,” Mr. Halsey said.

The Citywealth International Financial Centre Awards highlight the excellence of the advisers and managers in the private wealth sector in the major international financial centers. The awards are judged by an international panel of practitioners from all sectors with experience of working with advisers in the jurisdictions covered.

BDO reminds U.S. taxpayers of deadline

Millions of United States citizens have to file their 2016 tax returns by April 17 if they live in the U.S. and June 15 if they live abroad.

U.S. citizens or green card holders who reside in Cayman are still subject to U.S. taxation on their income – even if they are no longer in the United States. This also applies to Caymanians who are in possession of a U.S. passport, accounting firm BDO said in a press release.

For those unsure about the process, BDO said it will be offering free 30 minute sessions of tax advice during the month of February. Those interested are encouraged to phone ahead to book an appointment with one of the firm’s tax specialists.

“Filing for taxes can be a daunting process for some,” said Cori McGuffie, BDO Tax Administration. “This is where our specialists come in. BDO’s free February sessions are the perfect opportunity for anyone to come in and speak to us about their questions or concerns.”

Last year, the IRS processed more than 152 million returns, with the average refund being $2,860 per taxpayer. Those who intend to prepare their taxes and file for returns this year should not to wait until the last minute.

“If you’re pressed for time and you rush through the filing process, you could end up making mistakes that cost you a tax refund,” Ms. McGuffie said.

Those seeking to book a free appointment with BDO should contact Cori McGuffie on +1 (345) 815-4532, or email [email protected]

Mourant Ozannes shortlisted for Management Excellence Award 2017

Mourant Ozannes’ ‘ADVANCE Mini-MBA’ program has been shortlisted for ‘Best Program for Leadership Development’ at the 2017 Managing Partners’ Forum (MPF) awards.

The ‘ADVANCE Mini-MBA’ program is a week-long intensive study event for counsel who have been identified as possible future partners at Mourant Ozannes. Delegates from every office location receive formal teaching and collaborate in strategic problem solving workshops. They are supported by expert speakers and facilitators from the U.K., the U.S. and Australia, who collaborate with senior business leaders and partners from Mourant Ozannes to design and deliver sessions on leadership, business development, strategy, finance, technological innovation and knowledge management, the law firm said.

Mourant Ozannes Global Head of Knowledge, Catherine Cadman, said: “We are thrilled to be shortlisted for this award. Strategic law firm leadership is increasingly complex and our ‘ADVANCE Mini-MBA’ ensures delegates receive the range of knowledge, skills and behaviors needed to transition successfully to partnership at Mourant Ozannes, lead our business and develop high quality client services.”

Now in its 15th year, the MPF Awards for Management Excellence aims to provide independent evidence for management teams’ contributions to the firms’ objectives.

The winners will be announced on Wednesday, March 8 at an event held in London.

Mentoring Cayman Class attends educational workshop

The 2017 Mentoring Cayman Class met on Jan. 31 for an inaugural educational workshop at the Cayman Islands Chamber of Commerce. Representatives from all local universities and schools arrived to provide insight into the possibilities students have when they graduate.

The guest speakers included Xenia Goddard, St. Matthew’s University; Allison Anglin, University College of the Cayman Islands; Roisin Liddy-Murphy, Truman Bodden Law School; Aleza Beverly, International College of the Cayman Islands and Melissa Comparin from recruitment firm Baraud, who discussed resume preparation.

The guest speakers addressed internship opportunities and scholarships, as well as the different types of classes available to those looking to further their education.

Commenting on the introduction of career development and educational opportunity workshops, Chamber CEO, Wil Pineau, CCE, said: “We wanted to provide these outstanding students with every opportunity possible to ensure their future success, and to receive all the benefits from being a part of the Mentoring Cayman program.”

Like the educational workshops, the career development session will be facilitated by expert representatives and career guidance professionals.

The Mentoring Cayman Program was founded in 2002 in partnership with the Ministry of Community Affairs, Youth & Sports. It partners high-achieving students with a business or government leader, who in turn provides them with support and encouragement for the future. The pairs will meet monthly for workplace visits.

Appleby acts as offshore counsel in Chinese convertible bond transaction

Appleby acted as BVI and Cayman counsel of CCB International on its purchase of convertible bonds issued by Pa Shun Pharmaceutical International Holdings Limited. CCB International purchased a consideration of US$9.28 million of Series 1 convertible bond and US$6.19 million worth of Series 2 convertible bond respectively.

CCB International (Holdings) Ltd. is an investment services flagship, which is indirectly and wholly owned by China Construction Bank Corp. Pa Shun Pharmaceutical International Holding Ltd. is a Cayman Islands incorporated company whose shares are listed on the Hong Kong Stock Exchange.

The net proceeds of US$15.5 million will be applied to the group’s general working capital, business development and any future merger and acquisition transactions.

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