Business in brief: Caymanian students intern at Port Authority


This summer, the Port Authority of the Cayman Islands provided seven university students and two high school students with firsthand experience in various operations of the port.

David Rivers, a University of Brighton student, is currently working in the Facilities department.

“My experience at the Port has been exciting. It has definitely been a learning experience. Every day is different and there is always something new to learn. Everyone that I have worked with has been willing to answer questions and teach me,” he said.

University College of the Cayman Islands (Cayman Brac campus) student, Eugene Myles, 18, said, “This has been a very good experience learning about different trades. Although I am working with the Security department at the Brac port, I have been given the opportunity to learn about the various types of equipment and operations.”

Johnathan Woods, 17, Cayman Academy student who interned with the Mechanic department, said, “Working with the Port has benefited me. I was given the opportunity to work alongside different departments like Facilities and Administration, as well as Fleet.”

The Port Authority said it plans to take part in various career expos in the future. “We believe that it is necessary to reach out to students to try to gain their interest in the shipping industry and educate them on the extensive list of career possibilities, not just on island but overseas as well,” a press release states.

Financial sector receives award for ninth year

The Cayman Islands has been named the world’s No. 1 specialized financial center in The Banker magazine’s 2017 survey. It is the ninth consecutive year the Cayman Islands has maintained the top spot in the survey.

Jude Scott, CEO of Cayman Finance, said the Cayman Islands has long been regarded as the world’s premier international financial center through market leadership across all industry sectors, and long-standing relationships with top quality, law abiding international clients.

“The Cayman Islands is the leading jurisdiction for international hedge funds, the world’s second-largest captive insurance company domicile, the leading jurisdiction for healthcare captives, and a leading jurisdiction for capital markets, trusts and banking. Our company register is at a historical high with regards to the number of active companies,” he said.

Guernsey and Jersey are ranked second and third, respectively, in the specialized financial centers list, with the Bahamas and Bermuda closing out the top five places in the survey.

Mourant Ozannes conference on Oct. 6

More than 150 trust and private wealth specialists from Cayman, the U.K. and the U.S. will attend Mourant Ozannes’ trust and private client forum at the Kimpton Seafire Resort + Spa on Friday, Oct. 6.

The full-day conference, now in its seventh year, brings together professionals from across the wealth sector and many speakers. The event is chaired by Mourant Ozannes Global Head of International Trusts & Private Client, Jim Edmondson.

Lawyers from Mourant Ozannes’ Trusts & Private Client team will be joined by experts to debate key issues for trusts and trustees under this year’s conference theme “Seeking certainty in uncertain times.”

Mr. Edmondson said, “Facing increased regulation, the erosion of confidentiality and negative media coverage, the financial services sector in the offshore market is going through a period of unprecedented and persistent uncertainty.”

The 2017 program is designed to explore these concerns, he said. “It promises to give attendees some real food for thought as well as practical direction to take back to their own organizations.”

Speakers include Charlie Sosna (Mischon de Reya), Jude Scott (Cayman Finance), Richard Wilson QC (Serle Court), Jenny McKeown (Stephenson Harwood), Mona Vaswani (Allen & Overy), Jonathan Riley (Michelmores LLP), Nicholas Holland (McDermott Will & Emery), Andrew Needham (Sackville Bank), Matthew Braithwaite (Bircham Dyson Bell), Emily Exton (Forsters LLP), Hal J. Webb (Bilzin Sumberg), Nicole Mann (McDermott Will & Emery) and Jeff Millington (Smith & Williamson).

The conference is sponsored by Smith & Williamson, Fund Finance Partners and NCB Cayman Ltd.

For the full program and registration details, visit Mourant Ozannes’ website.

Scholarship recipient returns to Maritime Authority

Kayla Martin

Kayla Martin, a maritime scholarship recipient, has returned home from her studies to work for MACI.

She completed her studies at Liverpool John Moores University, one of the leading maritime universities in England.

“I could not have asked for a better experience,” she said.

“I was able to push myself to new heights. The scholarship enabled me to broaden my horizons as it provided me with the opportunity to further my education in an amazing overseas environment.

“MACI supported me throughout my bachelor’s degree in maritime business and management (Hons) and through my master’s degree in maritime operations.”

Ms. Martin joined MACI in February as a management associate. She has been rotated among the various sections to develop familiarity with the whole organization and its functions. This rotation allows her to gain the knowledge and experience required for eventual promotion by undertaking significant projects and tasks within specific sections under the direction of experienced personnel, a company press release states.

Since joining MACI, Ms. Martin has completed training in Houston, Texas, as a Quality Management Systems ISO 9001:2015 Internal Auditor (TPECS).

Carey Olsen celebrates its five-year anniversary

Jarrod Farley

Carey Olsen, which was recently awarded Offshore Law Firm of the Year in the 2017 Lawyer Awards, is celebrating five years in the Cayman Islands.

Since the Cayman Islands office was launched, the team has grown to a staff of 35.

“Our Cayman Islands practice brings the energy and entrepreneurial spirit of a startup along with the solid foundations, depth of expertise and scale that comes from being an integral part of one of the largest international offshore law firms,” said Managing Partner Jarrod Farley.

“We have an exceptional team on the ground able to take on the most challenging global work, and I would like to take this opportunity to thank them for their dedication as well as thanking our clients and intermediaries for their ongoing support.”

The firm has also continued its expansion into other jurisdictions, opening offices in the British Virgin Islands, Cape Town, Singapore and Hong Kong.

Conyers supports local students

Seven students completed their internship with Conyers Dill & Pearman during the summer.

Over four weeks, interns got an inside look at how an international law firm is run and were given the opportunity to work alongside lawyers and support teams.

Conyers’ summer internship program is made up of students who have applied directly for placement, as well as law students on scholarships with Conyers. Conyers has also been a participant of Cayman Finance’s Work Placement Program since its inception and hosts two of its students each summer.

The aim of the internship program is to open doors for young Caymanians, providing them with mentorship and training so that they can decide whether they want to pursue a legal career.

The paid internship ran during July and August.

Paul Smith, partner and head of Litigation in the Cayman Islands, said, “These initiatives provide a real opportunity for students to train and develop in a variety of skills. We thank all of our interns for their hard work this summer and look forward to watching as they further their studies and career aspirations.”

Students interested in joining the program for 2018 should submit applications by March 31.