Business in brief: Estera raises $10,000 to support BVI staff

Cayman Compass is the Cayman Islands' most trusted news website. We provide you with the latest breaking news from the Cayman Islands, as well as other parts of the Caribbean.
Cayman Compass is the Cayman Islands' most trusted news website. We provide you with the latest breaking news from the Cayman Islands, as well as other parts of the Caribbean.

Fiduciary and administration services provider Estera has raised more than $10,000 to donate to colleagues in its British Virgin Islands office following the devastation of hurricanes Maria and Irma.

Employees from Estera’s global offices organized several events such as raffles, dress-down days and bake sales to raise more than $10,000 for their BVI-based colleagues to help them rebuild their lives following the devastation.

In addition to these funds, Estera has provided further support of close to $40,000 for tarpaulins, electrical generators, evacuation costs, daily supplies, showers and washing machines in the office, as well as much needed cash in hand for daily living requirements.

Farah Ballands, chief executive officer of Estera, said, “This is a fantastic result and I am very proud of the generous spirit of the Estera global team. Our team in the BVI, and the jurisdiction as a whole, has shown incredible resilience throughout this difficult time.”

Estera’s BVI office resumed normal operating hours for clients on Oct. 5.

Five Continents adds alternatives executive

Cayman-based corporate governance firm, Five Continents Partners, has hired Richard Muckle as hedge fund chief operating officer for its growing team.

He joined Five Continents Partners as a director. Mr. Muckle has a long association with the Cayman Islands, having conducted business in the jurisdiction for many years. He has been registered as a director with the Cayman Islands Monetary Authority since January 2014.

Glen Wigney, director of Five Continents, said Mr. Muckle has held various C-level positions in the alternative investment sector covering the U.K., Asia, New York and Luxembourg with a focus on the client-facing side of the industry.

“[This] gives him a unique perspective; and his arrival brings considerable and complementary skills as well as contemporary onshore perspectives to the Five Continents Partners team,” Mr. Wigney said. “Richard has worked in operations, risk, asset raising and business development during his time in the alternatives sector and we look forward to introducing him to our clients so that he can apply his knowledge and experience to our growing book.”

Cayman litigation scholar called to the Bar after joining Ogier

Deborah Barker-Roye, an associate in Ogier’s Dispute Resolution team, has been called to the Cayman Islands Bar.

Ms. Barker-Roye is the author of two texts on Cayman Islands law and procedure: “Criminal Litigation in the Cayman Islands” and “Civil Litigation in the Cayman Islands.”

Before joining Ogier, she was assistant director of Legal Studies at the Cayman Islands Law School and a member of the attorney general’s chambers in the Cayman Islands.

In her role as deputy director of legal studies and head of the Cayman Islands Professional Practice (Bar) Course at the Truman Bodden Law School, Ms. Barker-Roye has taught litigation and legal skills to students and legal trainees for 18 years, and continues to do so on a pro bono basis while working with Ogier.

She was called to the Bar of England and Wales in 1994 and remains a door tenant (non-practicing) in London Chambers, 25 Bedford Row.

Privacy a major draw for wealthy real estate buyers, says report

Luxury Portfolio released its annual Global Luxury Real Estate Report, which analyzes the preferences of global luxury consumers, at a global symposium in Vienna, Austria earlier this month.

More than four-fifths of luxury consumers stated their privacy has never been more important and 61 percent of potential U.S. high net worth buyers said they are looking for security in a home purchase.

The majority of consumers noted the top reason for purchasing a new home was to improve their quality of life.

IRG’s broker/owner Jeremy Hurst, who attended the launch event said, “This report is highly relevant to the Cayman Islands market, which is becoming increasingly attractive to high net worth and ultra-high net worth investors. We offer a safe, civilized, enjoyable, family-orientated lifestyle that no country in the region can match and in that sense, although luxury prices have been increasing, our real estate market remains excellent value.”

Luxury Portfolio International President Paul Boomsma said the population of wealthy consumers and their interest in real estate have increased.

“Today’s high-net-worth buyer seeks privacy and the latest technology, creating a strong opportunity for new home developers,” he added.

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