Singapore

Cayman“ Specialistprofessional trusteeswho can manage therisks and the workinvolved in providingtrustee services tointernational clientswill reap the rewardsof doing so.”David Lambotte,Director, Elian (Caribbean)unsurprising – the raft of regulationrelating to information exchange,in the form of US Fatca and theOECD’s Common ReportingStandards, has created a wholenew framework to deal with. As alarge-scale global provider, forDeutsche Bank this is more man -ageable than it might be forsmaller players, given the resourcesand costs involved to ensure com -pliance with these requirements.”Janet Hislop, Chief Country OfficerDeutsche BankDavid Lambotte who is head ofprivate wealth in the Caribbean atElian, previously Ogier FiduciaryServices says: “In Cayman, from atrustee perspective, we are seeinggrowth for independently-ownedfiduciary service providers inattracting the high net worth clientmarket, increasingly occupying thespace being vacated by banks.Specialist professional trusteeswho can manage the risks and thework involved in providing trusteeservices to international clients willreap the rewards of doing so.”He says Elian has witnessedgrowth in its Cayman wealthmanagement business in the pastdecade, as the islands have builttheir reputation as a wealth centre.Work continues to flow in as aresult of wealth creation acrossLatin America – long the stalwartclient of Caribbean offshorecentres – and new business is alsoincreasingly coming from furtherafield.Citywealthmag.com Citywealth magazine, July 2015 • 18