www.harbour.ky
Jurisdictions Serviced The Cayman Islands is the leading jurisdiction for offshore investment funds as a result of its favourable regulatory environment, flexible structuring options, specialist service providers and tax neutrality. Our knowledge of and experience with Cayman Islands laws and regulations provides substantial benefit to investment managers utilising Cayman as their fund domicile. The Cayman Islands is also committed to maintaining the highest integrity and standards of operation as evidenced by its adherence to international regulatory requirements. The fund industry is a global network of investment managers, investors, and service providers working together to effectively manage capital. As a result it is often beneficial to domicile part or all of a fund structure in jurisdictions other than the Cayman Islands. We have experience with and can provide services to fund structures and investment managers in all key jurisdictions, including: Australia Bermuda CIMA, the Islands financial services regulator, is an ordinary (ie. full) member of the International Organisation of Securities Commissions (IOSCO). The Cayman Islands commitment to international tax transparency standards has been recognised by the Organisation for Economic Co-Operation and Development (OECD), and the country is included on the OECD s White List of jurisdictions that are compliant with international tax transparency standards. The Cayman Islands have entered into a Model 1 intergovernmental agreement with the United States to facilitate the implementation of the Foreign Account Tax Compliance Act (FATCA), and was an early adopter of the Common Reporting Standards (CRS). Brazil Cyprus Guernsey Ireland Jersey Mauritius Singapore United Kingdom British Virgin Islands Dubai Hong Kong Japan Luxembourg Russia Switzerland United States
Our Commitment Structures & Strategies Serviced Harbour commits to dealing ethically and fairly with all of our fund clients. Our firm, and provided directors, comply with industry best practices, avoid conflicts of interest and at all times represent the interests of the funds we service. We also limit the number of appointments held by each director, in order to ensure that the funds they service receive the highest standard of personal attention and care. The funds we service represent the full spectrum: from stand-alone funds with basic investment strategies through to large fund complexes trading esoteric securities and employing technical trading programs. In addition to providing individuals as directors, Harbour can also provide corporate directors and serve as trustee, allowing us to service the full complement of investment fund structures, including corporations, partnerships and unit trusts. Our Fee We also have experience with the listing and service requirements of several stock exchanges, including the Cayman Stock Exchange (CSX) and Irish Stock Exchange (ISE). At Harbour we provide value-added service to the funds that we serve, and to maximise this value we tailor our fee structure to the specific needs of each fund group. Many managers, especially those starting new funds, will prefer the convenience of an inclusive fee structure that covers all matters attended to during the normal course of business. Others may prefer a variable arrangement with a base fee plus additional fees charged on a time spent basis. In either case, our fee will always include core activities such as participation in board meetings and the ongoing monitoring required to fulfill our fiduciary obligations to the fund.
Additional Services In addition to the provision of fund directors, Harbour and its affiliates are able to provide related services throughout the various stages of a fund s lifecycle. These services can be provided in conjunction with our fund directorships or on a stand-alone basis and include: Trustee Services: As a licensed trust company, Harbour may serve as the trustee for funds structured as Cayman Islands unit trusts. The fiduciary duties and responsibilities of a trustee are not dissimilar from those of directors, and the personnel acting on behalf of Harbour as trustee are those same professionals who provide directorship services. Harbour may also hold the voting shares of a fund in trust, and an affiliated company can provide trustee and enforcer services in Cayman Islands STAR Trust structures. Registered and Principal Office Services: All Cayman Islands funds are required to maintain a registered office within the jurisdiction. Licensed funds are required to maintain a principal office. Harbour provides both registered office and principal office services. Company Secretarial Services: A fund may elect to appoint a company secretary to assist with the scheduling of board meetings, the preparation of board materials, and the recording of official board minutes. We have industry leading software that can be used to prepare, distribute and store board materials for each client and we tailor our secretarial services to the specific needs of each client. Administration Services: While we do not provide adminstration services to funds where we are directors, through a licensed affiliate, we can assist clients with bespoke fund administration requirements when those needs are outside of the scope of services typically offered by larger administration firms, including NAV calculation, accounting and shareholder services. Liquidations and Distressed Situations: Harbour directors have extensive experience in working through distressed situations including the wind down of under performing portfolios, illiquid assets and side pockets as well as in dealing with suspended redemptions, gates and redemptions in kind. Further, through an affiliate, we are also able to provide full insolvency and formal liquidation services. All of this expertise is crucial to help guide investment managers through difficult times, or to protect investors interests when an investment manager is no longer in a position to manage the assets. Other Related Services: Upon request Harbour offers a range of bespoke services to meet our clients needs.
Our Service Team The Harbour team has extensive knowledge and industry experience across a wide variety of fund structures and strategies. In addition to their time spent serving as directors of fund products, all members of management have spent a significant number of years specialising in various aspects of the funds industry, including experience working in Big 4 accounting firms, the largest fund administration firms and operational due diligence. In addition to bachelor and masters degrees in relevant fields, individuals hold the Chartered Accountant (CA), Certified Public Accountant (CPA), Chartered Professional Accountant (CPA), Chartered Financial Analyst (CFA), Chartered Alternative Investment Analyst (CAIA), Trust and Estate Practitioners (TEP), and Accredited Director (AccDir) professional qualifications. Members of our management team are respected leaders in the Cayman Islands funds industry, serving on the executive of key industry associations such as Cayman Finance, the Alternative Investment Management Association (AIMA), Hedge Funds Care Cayman, the Cayman Islands Directors Association (CIDA), 100 Women in Finance, the Cayman Islands Institute of Professional Accountants (CIIPA), Chartered Alternative Investment Association (CAIA) Cayman Islands Chapter and the Cayman Islands Fund Administrators Association (CIFAA). Brief biographies for each member of the management team are as follows: E: amilgate@harbour.ky D: +1 (345) 814-2315 Alan Milgate is Managing Director of The Harbour Trust Co. Ltd. ( Harbour ) and is responsible for advising on the establishment and ongoing administration of funds, trusts and companies, including acting as a director of Cayman Islands regulated funds and other client companies. Mr. Milgate is a qualified Chartered Accountant (Canada), a Chartered Financial Analyst (CFA) charter holder, and a member of the Society of Trust and Estate Practitioners (STEP). Mr. Milgate is also a Partner with the Cayman Islands office of Rawlinson & Hunter which owns and operates Harbour. He has over two decades of international experience in the financial services industry and joined the firm in December 1997. Prior to moving to Cayman, his career included experience with the taxation practice of Deloitte in Canada and audit and assurance services in Canada, New Zealand and the Cayman Islands. He is currently the Chairman of the Cayman Branch of STEP, and is the Immediate Past-Chairman of the Cayman Chapter of AIMA. E: PDickie@harbour.ky D: +1 (345) 814-2244 Philip Dickie is a Director of The Harbour Trust Co. Ltd. ( Harbour ) and is responsible for providing fiduciary services to Harbour s fund clients, including serving as an independent director for such funds. He graduated magna cum laude with a Bachelor of Commerce degree from Saint Mary s University in Halifax, Canada, and is a Chartered Professional Accountant (Canada), a Certified Public Accountant (US), and a Chartered Alternative Investment Analyst. Mr. Dickie began his career at Deloitte in Halifax, Canada in 1994 and was a Manager in the audit group when he left in 1998. He subsequently moved to The Bank of Bermuda Limited in Bermuda, where he gained considerable experience in the valuation and administration of various investment structures, with a focus on offshore investment funds. In 2002 Mr. Dickie joined the Bermuda office, and later the London office, of Union Bancaire Privee, where he was responsible for performing operational due diligence reviews on fund managers and their service providers for five years. Mr. Dickie joined the Harbour team in 2007. He is a member of several industry associations, and currently serves as a Chapter Executive of the CAIA Cayman Islands Chapter, and is a member of the Hedge Funds Care Cayman Committee of Hearts. E: cpowell@harbour.ky D: +1 (345) 814-2343 Cassandra Powell is a Director of The Harbour Trust Co. Ltd. ( Harbour ) and is responsible for providing fiduciary services to Harbour s fund clients, including serving as an independent director for such funds as well as having responsibility for unit trust structures for which Harbour serves as trustee. She holds a Master of Business Administration degree and is a member of the Society of Trust and Estate Practitioners (STEP). Ms. Powell is an accomplished fund professional, specialising in hedge funds and related structures with a variety of investment strategies. Prior to joining the Harbour team in 2007, Ms. Powell worked at another professional services firm for over 5 years where she dealt exclusively with fund clients, providing directorship and related fiduciary services. Prior to this, Ms. Powell was employed by the Portfolio of Finance and Economic Development of the Cayman Islands Government for over 4 years. She is the President of the Cayman Islands Directors Association (CIDA), is a member of 100 Women in Finance (Cayman Islands location), is a member of the International Women s Insolvency & Restructuring Confederation and is a Notary Public in the Cayman Islands.
E: CBodden@harbour.ky D: +1 (345) 814-8760 Christopher Bodden is a Director of The Harbour Trust Co. Ltd. ( Harbour ) and is responsible for providing fiduciary services to Harbour s fund clients, including serving as an independent director for such funds. He is a Chartered Alternative Investment Analyst and a Notary Public in the Cayman Islands. Mr. Bodden began his career in the fund administration business at Goldman Sachs, a leading hedge fund administrator, in 1996 and was based in the Cayman Islands. In 2005 he was appointed a member of the global management team for the fund administration business and helped grow that business into an industry leading service provider with over US$200 billion in assets under administration. He also served as a director for a number of Goldman Sachs entities, including Goldman Sachs (Cayman) Trust, Limited and Goldman Sachs Administration Services (Canada) Co. In 2012 State Street Corporation acquired the fund administration business from Goldman Sachs and he was appointed a Managing Director with responsibility for the operations in the Cayman Islands. He is an accomplished funds professional with two decades of experience servicing some of the world s leading hedge funds. Mr. Bodden joined the Harbour team in 2015. E: LGolding@harbour.ky D: +1 (345) 814-2278 E: ALeadbetter@harbour.ky D: +1 (345) 814-8719 Leanne Golding is a Senior Vice President of The Harbour Trust Co. Ltd. ( Harbour ) and is responsible for providing fiduciary services to Harbour s fund clients, including serving as an independent director for such funds. She holds a Bachelor of Arts (Hons) in Economics from Queen s University in Canada, and is a Chartered Financial Analyst (CFA) charter holder and an Accredited Director (Chartered Secretaries of Canada). Ms. Golding has been in Cayman since 1996 and previously worked for Goldman Sachs, where she was Vice President, Global Investor Services managing the Investor Services team in Cayman, Dublin and Princeton NJ. Ms. Golding joined the Harbour team in 2009. She has been involved with AIMA Cayman on their Education and Research Sub-Committee and is Co-Chair of the Philanthropy Committee of the Cayman Islands location of 100 Women in Finance. Anne-Marie Leadbetter is a Vice President of The Harbour Trust Co. Ltd. ( Harbour ) and is responsible for providing fiduciary services to Harbour s fund clients, including serving as an independent director for such funds. She is a Chartered Professional Accountant (Canada), an Accredited Director (Chartered Secretaries of Canada), and a Notary Public in the Cayman Islands. Ms. Leadbetter began her career in 1999 with the Office of the Auditor General of British Columbia as an auditor. In 2002 she moved to the Cayman Islands to work for KPMG where she specialized in hedge fund and insurance audits. Ms. Leadbetter then worked in the captive insurance industry for two years until 2005 when she joined Goldman Sachs as a fund administrator. From 2007 until 2012 she was a Finance Manager for an investment manager, GLG Partners. During this time, GLG Partners went public and was later purchased by Man Group and Ms. Leadbetter was involved in both processes, including preparation and analysis of financial information and system conversions. Ms. Leadbetter joined the Harbour team in 2013. She is a Director of the CPA Canada Cayman chapter, a member of the Philanthropy Committee of the Cayman Islands location of 100 Women in Finance, and a member of the Committee of Hope for Hedge Funds Care Cayman. E: KHuys@harbour.ky D: +1 (345) 814-8793 Kevin Huys is a Vice President of The Harbour Trust Co. Ltd. ( Harbour ) and is responsible for providing fiduciary services to Harbour s fund clients, including serving as an independent director for such funds. He is a Chartered Professional Accountant (Canada) and an Accredited Director (Chartered Secretaries of Canada). Mr. Huys began his career at Deloitte in Saskatoon, Canada in 2000 and moved to the Cayman Islands office in 2003. Prior to joining the Harbour team in 2013, Mr. Huys was a Senior Manager in the audit group of Deloitte where he gained considerable experience with various investment fund structures and strategies, as well as the Cayman Islands regulatory environment. He is a member of the Cayman Islands Institute of Professional Accountants Membership Engagement Committee. Partners of Rawlinson & Hunter E: info@harbour.ky T: +1 (345) 949-4272 E: WWalmsley@harbour.ky D: +1 (345) 814-2204 Richard Douglas is a Director of The Harbour Trust Co. Ltd. and is the Senior Partner of Rawlinson & Hunter in the Cayman Islands. He is a Fellow of the Institute of Chartered Accountants in England & Wales, and a Trust and Estate Practitioner (TEP). Richard qualified as a chartered accountant in 1975, joined Rawlinson & Hunter in 1979, and was made Partner in 1985. He has a wealth of experience in the offshore financial industry, having worked in the Cayman Islands since 1979. William Walmsley is a Director of The Harbour Trust Co. Ltd ( Harbour ) and is responsible for providing fiduciary services to Harbour s fund clients, including serving as an independent director for such funds. He is also a Partner with the Cayman Islands office of Rawlinson & Hunter which owns and operates Harbour. He is a Fellow of the Institute of Chartered Accountants in Ireland and is a member of the Society of Trust and Estate Practitioners (STEP). Mr. Walmsley joined the firm in 1997 and was made a Partner in 2000. He has extensive experience in the offshore financial industry having worked in the Cayman Islands since 1987. He is a Director of Cayman Finance, a member of the Cayman Islands Institute of Professional Accountants and former Vice Chairman of the Cayman Islands branch of STEP.
Founded in 1982, Harbour (The Harbour Trust Co. Ltd.) has a long-standing relationship with the fund industry. A duly licensed trust company and mutual fund administrator, Harbour s main focus is on the provision of directorship and related fiduciary services to the fund industry. Harbour is owned by Rawlinson & Hunter in the Cayman Islands, and provides all fund fiduciary services on behalf of the firm. The Cayman Islands office of Rawlinson & Hunter has been providing a comprehensive range of professional services since 1973. Rawlinson & Hunter is an international grouping of professional firms specialising in financial services whose network of offices include: Australia, Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Jersey, New Zealand, Singapore, Switzerland (Geneva and Zurich) and the United Kingdom. If you would like further information on our services or would like to speak with a member of our management team, we would like to hear from you. Postal address: Contact details: Physical address: The Harbour Trust Co. Ltd. The Harbour Trust Co. Ltd. P.O. Box 897 Tel: +1 (345) 949 4272 Windward 1, Regatta Office Park Grand Cayman, KY1-1103 Fax: +1 (345) 949 8295 Grand Cayman CAYMAN ISLANDS info@harbour.ky Cayman Islands www.harbour.ky