Business in Brief: Cayman Islands delegation attends WISTA conference

WISTA Cayman Islands President Dorisley Jackson and board director Robynette Hera attended the annual general meeting and conference of the Women’s International Shipping and Trading Association in Rotterdam.

Approximately 280 women from WISTA chapters from around the world attended the event with the theme “Future-proofing Maritime Solutions.”

WISTA was formed in 1974, and is an international organization that seeks to empower women and promote careers in the shipping industry. It serves as a connector for its network of more than 3,000 female professionals in various occupations in the shipping industry.

“On a global scale, WISTA members have access to an incredibly diverse network of executives in the shipping industry on whom we can call for referrals, connections, advice or business collaborations,” Ms. Jackson said. “It was important for us to attend to not only take advantage of the many networking opportunities, but also to find out what is happening around the world in WISTA organizations and in the industry itself.”

At the organization’s AGM, the WISTA Cayman Islands president confirmed Cayman’s bid to host the AGM and international conference in the Cayman Islands in 2019.

RBC presents digital strategy for 2018

RBC Caribbean Banking announced that starting in January, clients who visit RBC branches will be encouraged to use the bank’s mobile app, other digital solutions and next-generation ATMs for all their basic transactions, including deposits, fund transfers, bill payments and credit card payments.

RBC said clients would benefit from better access, more convenience and greater security by “going digital.”

“The high percentage of mobile and digital ownership in the Northern Caribbean tells us our clients are already accessing many services from their phones and laptops,” said Tim Rider, senior vice president of sales, Caribbean Banking. “The benefit of the app or online tools is that they are available 24/7, wherever you are. Clients don’t need to visit us at an RBC store – they have RBC in their pocket all the time.”

Going digital would also shorten lines and lead to faster service inside the bank when clients are looking for advice and solutions for their more complex financial needs, the bank stated in a press release. In addition, using digital services is more secure as the bank can better safeguard information and apply fraud protection measures.

“These basic transactions are increasingly the target of criminals who are intent on fraud and money-laundering,” said Nathanial Beneby, managing director, RBC Northern Caribbean. “By shifting them to digital and mobile channels, we can effectively monitor access and activity, which improves our ability to safeguard our clients and their accounts.”

As of January 2018, RBC will no longer offer FasDeposits, standing orders for credit cards and over-the-counter wire transfers. The bank also plans to stop cashing checks for non-clients and is working with the respective government agencies to develop alternate payment options.

Until these alternatives are in place, RBC will continue to provide this service for non-clients.

“We have been transitioning to a digitally enabled relationship bank for some time and had reached the crossroads of making that concept real for RBC clients. We have taken this bold step now, so we can bring to life the real-time, varied ways clients can bank with us, to ensure they can see it, touch it and experience it – and we can better meet their expectations and help them achieve their dreams,” Mr. Beneby said.

Harneys appoints litigation head

Global offshore law firm Harneys has appointed Nick Hoffman head of Cayman’s litigation and insolvency practice. In addition, Chris Russell will join the firm as a consultant and the litigation team will add a number of associates in early 2018, the firm said in a statement.

Cayman Managing Partner Marco Martins said, “Earlier in the year we announced our decision to hire Nick Hoffman and Madeleine Heal, as well as to promote Jessica Williams to partner. Together with a deep and talented team of associates, they form one of the most formidable teams in Cayman. The addition of Chris further strengthens the team. We are therefore delighted Nick has agreed to take on this role and we are very excited for the future and have no doubt that the Cayman Litigation team will continue to thrive and tackle the challenges ahead.”

Mr. Hoffman said, “The team is full of talented, capable and dedicated colleagues, and I am thrilled by the trust placed in me by them and excited about what we can accomplish for our clients. The addition of Chris, who is a well-known and highly experienced and regarded Cayman litigator, is an exciting development, as is the addition of several high-quality associates, to an already impressive team.”


Support local journalism. Subscribe to the all-access pass for the Cayman Compass.

Subscribe now