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Cayman Islands

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Legal market overview

The Cayman Islands (Cayman) has a longstanding reputation as a leading international financial centre and the jurisdiction continues to perform strongly as an investment funds domicile. In early 2016, the Cayman Islands Monetary Authority showed nearly 11,000 mutual funds were registered with or licensed by it.

Significant overseas expansion for the islands’ law firms included Cayman-headquartered Walkers Cayman opening an office in Bermuda in early 2016, operating under the name of Taylors in association with Walkers.

Caribbean law firms also continue to expand in Asia. Harneys opened a Shanghai office in November 2015 and Campbells launched a Hong Kong office in early 2016. The latter launch was in direct response to demand from its clients in the region for advice on BVI and Cayman law in the Asian Pacific time zone. Former Cayman managing partner and litigation, insolvency and restructuring group head Ross McDonough relocated to lead the new office.

Noteworthy movement within Cayman included Carey Olsen’s recruitment of litigator Sam Dawson from Solomon Harris, while Alex Brainis and Sailaja Alla joined Appleby’s corporate and commercial group from Intertrust Group and Harneys, respectively. Funds expert Andrew Morehouse and contentious trust expert David Butler left Harneys.

Appleby also experienced departures as Julian Black, its former global structured finance and derivatives head, exited to become group director of the firm’s fiduciary business, Estera, and litigator Christopher Russell retired. Elsewhere, Mourant Ozannes’ former Cayman investment funds co-head James Wauchope retired from the firm, funds specialist Julian Fletcher joined Carne Group and former real estate department head Sonia Starvis joined Forbes Hare.

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