EY has selected Jamal Hinds and Raidez Perez as the winners of this year’s EY Cayman Scholarships. The scholarships have a value of up to $30,000 a year for a maximum of five years until recipients have completed the minimum educational requirements to qualify as a CPA. It provides students who have shown academic excellence the opportunity to achieve their educational objectives and build careers in the professional services industry, EY said.
Mr. Hinds recently received his bachelor’s degree in accounting and management with a focus in finance, and will soon begin pursuing his master’s in accounting and management, both from the University of London. Ms. Perez recently received her associate degree in accounting from the University College of the Cayman Islands, and will begin pursuing her bachelor’s degree in accounting and finance at the University of Manchester next month.
The scholarship also includes an eight- to 10-week summer internship to gain practical experience, and an offer of full-time employment at EY upon successful completion of study.
Minister updated on financial services and home affairs
Tara Rivers has held initial meetings with senior managers in Financial Services and Home Affairs, during which she was briefed on current operations and initiatives and plans for the coming years.
The entities under the ministry’s remit are the Department of Financial Services Policy and Legislation; the Department for International Tax Cooperation; the General Registry; the Cayman Islands Monetary Authority; the Cayman Islands Stock Exchange; the Auditors Oversight Authority; Her Majesty’s Prison Service; Her Majesty’s Fire Service; the Department of Public Safety Communication (E-911); Hazard Management Cayman Islands; the Department of Community Rehabilitation; and the Maritime Authority of the Cayman Islands.
“As the new minister for these entities, it was important for me to get a comprehensive overview of the various departments and agencies as quickly as possible,” Ms. Rivers said.
Ministry Chief Officer Dax Basdeo and ministry staff accompanied Minister Rivers to the meetings and on the walk-throughs of each agency.
Caribbean economist joins Bitt Inc.
Barbados-based FinTech company Bitt Inc. has appointed Marla Dukharan as chief economist.
Ms. Dukharan has spent almost 20 years as an economist in the financial sector, most recently as Royal Bank of Canada’s group economist for the Caribbean.
Bitt’s Chairman Peter George said, “We are incredibly excited to have Marla join the Bitt family. Her knowledge and expertise will accelerate the evolution of the financial ecosystem in the Caribbean, and further strengthen Bitt’s leading role in addressing financial market inefficiencies.”
“As our chief economist, Marla will champion Bitt’s mission to promote the adoption of financial technology in the Caribbean, which will boost financial and economic inclusion, and lower the cost of financial services. Bitt will therefore enable the region to transcend the constraints of traditional business and banking channels, via mobile financial services,” Mr. George added.
Bitt is developing its digital payments solution in Barbados but has plans to expand throughout the Caribbean. The suite of services enables smartphone-based transactions for merchants, institutions and individuals.
Ms. Dukharan will continue to produce her monthly Caribbean Economic Report, monitoring major economic developments in over 20 countries.
Scotiabank receives honor
Scotiabank has been recognized by Global Finance magazine as the 2017 World’s Best Consumer Digital Bank in Latin America and the Caribbean.
The bank has consistently received the Best Consumer Internet Bank or Best Consumer Digital Bank awards from Global Finance since 2009.
Winning banks were selected based on the strength of their strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and web/mobile site design and functionality.
Scotiabank was also recognized in one international regional subcategory: Regional Winner for Best in Mobile Banking Latin America and the Caribbean; and three regional subcategories in North America: Best Mobile Banking App, Best Bill Payment and Presentment, and Best Information Security Initiatives.
Recently, Scotiabank rolled out a new online and mobile banking platform.
The bank also created a network of five Digital Factories in its priority markets of Canada, Mexico, Chile, Peru and Colombia which are focused exclusively on delivering digital customer solutions. In addition, Scotiabank appointed five digital banking leaders who will drive the bank’s digital strategy in key markets and partnered with FinTechs and universities to help accelerate its digital and analytics capabilities.
Ogier names new partners
Ogier has promoted Joanne Huckle and Piers Dryden from the Cayman Investment Funds team to the firm’s partnership. They bring the firm’s global partnership to 54.
James Bergstrom, who heads Ogier’s Cayman office, said, “Our strategic growth in Cayman continues, and these promotions are well-deserved recognition of these individuals’ contributions to the success of our leading investment funds team and their commitment to excellence in client service.”
Ms. Huckle advises investment funds clients with regards to both open-ended and closed-ended mutual fund and private equity fund structures. She also has extensive experience advising on a broad range of international corporate transactions including mergers and acquisitions, IPOs, rights issues, sukuk issues and restructurings.
Mr. Dryden has recently relocated to Jersey to lead the firm’s Cayman law offering in the European time zone. He has experience advising on corporate matters, including with respect to public and private mergers and acquisitions, corporate restructurings, joint ventures and rights issues.
Appleby nominated for law firm of the year
Appleby has been nominated as Law Firm of the Year–Caribbean at the Citywealth International Financial Centre Awards. Voting closes on Dec. 1 and the winners will be announced at an awards evening on Jan. 25, 2018, in London.
In June, Appleby had eight lawyers included on the Citywealth List of ‘Leading Lawyers’ and two lawyers were included in Legal Week’s Private Client Global Elite, which profiles 200 top trust and estate legal practitioners – including private client lawyers, tax lawyers, litigators and barristers.
Four Mourant Ozannes Cayman lawyers feature in legal guide
Four Cayman lawyers at Mourant Ozannes have been recognized in the Who’s Who Legal: Private Funds 2018 guide of the leading professionals across the globe who specialize in private funds work. Nine Mourant Ozannes lawyers in the Channel Islands were also recognized.
The Cayman-based lawyers recognized in the guide were partners Alex Last, Hayden Isbister and Neal Lomax. London Managing Partner and head of the firm’s Cayman Islands practice in Europe, Robert Duggan, was also recognized for his funds expertise.
Alex Last was also named as “a specialist in delivering regulatory advice” in the guide’s regulation listings.
The 13th edition of Who’s Who Legal: Private Funds listings are based on nominations from peers and clients within and outside their own jurisdictions.
eShore to grant two scholarships for cybersecurity course
Cybersecurity company eShore Ltd. is hosting a two-day Cybersecurity Fundamentals training course on Sept. 26 and 27 at the Cayman Conference Center in Elizabethan Square.
eShore will grant two scholarships for the course. They will be given to a local UCCI/ICCI student, NWDA candidate or Cayman Islands government employee. The winners will be randomly selected from all entries.
The Cybersecurity Fundamentals course is taught by cybersecurity expert Jay Ranade.
The course is meant to prepare students to take the ISACA Cybersecurity Fundamentals certification exam (CSFX). The course will cover topics such as cybersecurity concepts; architecture principals; networks, systems, applications and data; incident response; and security of evolving technology.
The course is recommended for anyone looking for a career change into cybersecurity, recent university graduates, compliance and risk officers, and others interested in advancing their knowledge of cybersecurity.
To be entered for a free scholarship to the course, applicants should send an email with contact information to [email protected], referencing Cybersecurity Scholarship. The recipients will be contacted on Sept. 6 with details.