Business in brief

Estera named Trust Company of the Year

Estera has won ‘Trust Company of the Year – Bahamas, Bermuda and the Cayman Islands’ in Citywealth’s International Finance Centre awards.

The award, announced in London on 29 Jan., recognises outstanding achievements in Estera’s Bermuda and Cayman Islands offices and highlights the expertise of the firm’s private client team, stated a press release.

James Maitland, regional head of Americas, Bermuda & Caribbean at Estera, said the last few years had been very successful for the company. “We have experienced significant growth while building a well-diversified business. In addition to our ongoing investments to support the growth of our long-established private wealth and corporate services businesses, we have also built a fully-fledged global funds capability,” he said in the release. “This award is a great endorsement of our approach.”

Estera provides offshore trust management and administration services including foundations, managed trust companies, private trust companies, trust formation and administration and has over 550 professionals in 11 jurisdictions.

Inflexion Private Equity announced last year that it will acquire Estera. Following completion, Estera will merge with Inflexion’s existing portfolio company, Ocorian, to form a global corporate service and fund administration firm. The combined business will have offices in 18 offshore and onshore jurisdictions, more than 1,250 employees and more than 8,000 clients.

Cassandra Ronaldson, Kalo

Kalo promotes Ronaldson to senior manager

Insolvency and restructuring firm, Kalo, has promoted Cassandra Ronaldson to senior manager in the firm’s Cayman Islands office.

Ronaldson has been working for Kalo for the past four years and was previously employed by a leading accountancy firm in Australia. She is a qualified chartered accountant and experienced in cross-border insolvency, independent business reviews, forensic investigations and matters involving litigation.

Kalo has offices in the British Virgin Islands and the Cayman Islands and employs 22, included six director-level, staff.

Ogier’s Rachael Reynolds named Offshore Litigator of the Year

Rachael Reynolds, global head of dispute resolution and contentious trusts at Ogier, was named Offshore Litigator of the Year at the Citywealth International Finance Centre awards. Ogier also won Law Firm of the Year awards in Jersey and Hong Kong & Singapore.

Rachael Reynolds, Ogier

Reynolds’ entry focussed on her track record leading on some of the largest and most high-profile cases in the Cayman Islands, including advising investors in the Abraaj Group collapse, one of the largest private equity structures in the Middle East, and leading the Cayman legal team for the Joint Provisional Liquidators on the $4 billion Ocean Rig matter.

Reynolds has overseen the expansion of Ogier’s cayman dispute resolution team, which has doubled in size, with 85% of the new recruits being women, the firm said in a press release.

Appleby Global Services expands to the Seychelles

Fiduciary services provider Appleby Global Services, has opened an office in the Republic of Seychelles. Following its launch in January 2019 the firm is now in seven jurisdictions: Bermuda, the Cayman Islands, Hong Kong, Jersey, Isle of Man, Mauritius and Seychelles.

Malcolm Moller, managing director of AGS Seychelles, said: “Our decision to launch in Seychelles is a direct response to our clients’ needs. We will be offering corporate services, foundation services and trust services to start with and we will continue to work closely with our colleagues in AGS Mauritius and the wider AGS network to support clients with their local and global requirements.”

Gareth Russell, chief operating officer for AGS, said Mauritius and the Seychelles are strategically important jurisdictions for international clients looking for a gateway into African and Asian markets. “It is also aligned to our strategy of working closely with our law firm colleagues in Appleby to provide clients with an integrated legal services and fiduciary offering,” he added.