Business in brief

Colin Targett, managing director, IQ-EQ

IQ-EQ appoints new managing director of Bermuda and the Cayman Islands

Colin Targett, managing director, IQ-EQ

Investor services group, IQ-EQ, has appointed Colin Targett as managing director of its Bermuda and Cayman Islands operations.

The qualified chartered accountant has more than two decades of senior experience in the fund services space after starting his career in Bermuda.

More recently, he was head of overseas investment operations with Barclays in Jersey, where he had overall responsibility for servicing private bank and wealth operations teams globally. Previous roles also include stints as director of fund services at Crestbridge and managing director at Apex Fund Services.

Consolidated Water declares first quarter cash dividend

Consolidated Water, the developer and operator of advanced water supply and treatment plants, announced that its board of directors has approved a quarterly cash dividend of $0.085 per share.

The cash dividend is payable 31 Jan. 2020, to shareholders of record at the close of business on 2 Jan. 2020.

Cayman First staff undergoes health and safety training

Cayman First staff following the training sessions.

Eleven Cayman First Insurance employees attended a 10-hour Hazard Awareness Health and Safety training relating mostly to the construction industry.

The training programme was attended by managers, claim adjusters, underwriters, and in-house surveyors. “We wanted to provide our staff with a deeper understanding of the hazards involved in the construction industry, the risks that we underwrite, along with obtaining additional knowledge to improve our underwriting guidelines,” said Judy Campbell, vice president of property and casualty. “This way we are better able to tailor insurance solutions to our clients and their needs.”

The training was led by Jennie Pacheco of Elevar’s, a Cayman company offering a wide range of services related to occupational health and safety, environmental, water and wastewater design and process solutions.

Jonathan Welds, senior development underwriter at Cayman First Insurance, said, “We conduct regular site visits to ongoing construction projects, and this training will ensure we can take the necessary steps to implement personal safety measures while on site.”

STEP re-elects Simon Morgan as global chair

Simon Morgan, chair, STEP

Simon Morgan TEP, director and head of private clients at Vistra Jersey, has been re-elected worldwide chair of STEP. Founded in 1991, and with more than 20,000 members, STEP is the global professional association for practitioners who specialise in family inheritance and succession planning.

This will be Simon’s second term as chair, and is effective from 1 Jan. 2020.

He said during the past year, the society had made progress in strengthening professional standards and governance of the organisation.

Other board members from January 2020 include Assad Abdullatiff, Nancy Golding QC, Ian Huddleston, Anthony Pitcher, Amanda Simmonds, Patricia Wass and STEP CEO Mark Walley.

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