Business in brief

Ballands to step down as Ocorian CEO

Farah Ballands

Farah Ballands has decided to step down as CEO of Ocorian. Current chairman Frederik van Tuyll will take over the responsibilities of the chief executive officer on 31 March 2021 in addition to those as chairman.

In a press release, Ballands said, “I have thoroughly enjoyed leading the business through the acquisition and merger with Estera. However, now we are one year on, the time is right for me to hand over the reins. I am confident that we have built an excellent management team, created a platform for growth and that Ocorian will go from strength to strength.”

Van Tuyll, who was appointed chairman of Ocorian in 2019, said, “We want to ensure continuity for our clients and employees and it therefore makes total sense for me to combine the responsibilities of Chairman and CEO.”

The company’s strategy would remain the same.

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“Farah has done an outstanding job and will be sorely missed. She has been incredibly ambitious and achieved a remarkable amount: firstly, for Estera and most recently, of course, for Ocorian,” van Tuyll said.

Corbin becomes Deloitte partner

Lise Corbin

Deloitte has promoted Lise Corbin to partner in its Cayman Islands practice.

Corbin has more than 15 years of experience specialising in risk advisory with Deloitte, in both the Cayman Islands and Canada, the company said in a press release. She is responsible for Deloitte’s regulatory and compliance service offerings in Cayman and the Caribbean.

These services include regulatory and legal compliance, accounting and internal controls, with special focus on anti-money Laundering and data-protection programmes.

Stuart Sybersma, Cayman Islands managing partner, said in the  release, “Since joining Deloitte in 2004, Lise has built a diverse skillset and developed extensive qualifications and expertise in Risk Advisory, by serving the firm’s global, regional and local clients from both the Cayman and Toronto offices. Her promotion strengthens our firm’s client service capabilities and our position of sustained business growth and leadership within our local and regional markets.”

Deloitte said that Corbin “is a champion for diversity and inclusion in the workplace, and promoter of the advancement and development of women leaders. She is a founding member of Cayman’s 100 Women in Finance and was co-chair from 2017-2018.”

Appleby acts in Silver Crest US$300 million SPAC IPO

Appleby acted as Cayman counsel to Silver Crest Acquisition Corporation on its upsized US$300 million special purpose acquisition company (SPAC) initial public offering. The SPAC is targeting businesses with differentiated products and services in high-growth consumer and consumer technology sectors and is sponsored by affiliates of Ascendent Capital Partners.

The Appleby team was led by David Bulley, partner in the firm’s Hong Kong office, and Dean Bennett, senior associate in its Cayman office.

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