London law firm Chancery Advisors has announced the launch of ChanceryESG, its associate firm in the Cayman Islands.
The new business will focus on what Chancery calls three pillars of the future economy: ESG, digital asset transactions and sanctions, according to a press release.
Winston Connolly will be senior partner of ChanceryESG.
“The firm has the advantage of being able to build out a practice with the new economy in mind and be attuned to the needs of clients from day one. We are very excited by what the future holds for the firm,” he said.
Chancery Advisors, which was set up by former Goldman Sachs in-house lawyers, deals predominantly with hedge funds and investment banks.
Founding partner Dan Harris said the siloed nature of most law firms prevents them from making the connection between ESG, digital asset transactions and sanctions.
“In practical terms, all three impact what, with whom, and how clients do business in the real economy and in the financial markets. They are increasingly part of the same conversation,” Harris said.
Harris believes Cayman is especially relevant to the future economy.
The constant framing of Cayman in tax terms, both by politicians scapegoating it and those defending its tax neutrality, is a tired war of attrition, he said.
“We see Cayman through a different lens – as the clock ticks down on climate change, ESG needs capital with a short investment horizon. Digital assets need trading, not investment capital, to achieve sustained liquidity. Investment vehicles domiciled in Cayman, in contrast to many long only funds onshore, have the right kind of capital,” Harris noted.
“Similarly, this capital is high quality capital. There is no sanctions arbitrage. Cayman tracks UK sanctions. This all means that Cayman will be front and centre in the future economy.”
Related Videos
