Saturday, 28 May 2016
Last updated 2 hours ago
Apr 2 2012 | 9:47am ET
International law firm Maples and Calder has hired seven partners and three associates away rival Walkers for its Cayman and British Virgin Islands offices.
Joining the firm’s Cayman office are partners Julian Ashworth, Heidi De Vries, Sheryl Dean, David Marshall, Philip Millward and Gwyneth Rees along with senior associates Philip Dickinson, Patrick Head and Lucy Nicklas. Partner Tim Clipstone will be joining Maples' BVI office. All moves will take place as soon as the lawyers’ existing arrangements allow.
Jon Fowler, global head of investment funds, said in a statement: "We look forward to welcoming Julian, Heidi, Sheryl, David, Philip M, Gwyneth, Tim, Philip D, Patrick and Lucy to our leading hedge fund and private equity teams in due course. The recruitment of these high-caliber individuals demonstrates our commitment to excellence and our focus on client service. We are recognized for the quality of our professionals and our ability to deliver a seamless service offering legal, corporate, fiduciary, and funds solutions to our clients. The proven Maples business model avoids the dislocation of outsourcing entity formation and maintenance to a third-party provider. This no doubt was a factor in their respective decisions to join us."
The news follows Walkers decision to sell its fiduciary business, Walkers Management Services, to trust company Intertrust, and shift its focus purely to law. Walkers’ global managing partner, Diarmid Murray, told HedgeWeek the move was something they were “fully prepared for.”
“Walkers remains in excellent shape and we are confident that clients' legal requirements will continue to be serviced to the highest standards. We continue to speak with our clients about the exciting developments and continued growth at Walkers following the sale of our management services group and our future as a market-leading, truly independent law firm."