Butler will be advising staff on all legal matters from questions concerning the structure of Cayman entities such as exempted limited partnerships and purpose trusts to compiling and maintaining precedents to be used in regular company management to advising IMS on its own contracts such as leases, management agreements, insurance policies.
Paul Harris, Chairman of International Management Services Ltd, says: "As laws and regulations get more complex we find we need to seek legal advice on what used to be quite routine matters. If third party legal advice is required Gary will be acting as an intermediary between IMS and the law firm involved. He will also liaise with the IMS compliance department and give advice on any complex KYC matters.
"An important part of our business is the supply of corporate governance to hedge funds. Gary’s duties will also include a review of our corporate governance procedures to ensure they are in line with the current best practice.
"Gary has been chosen because of his previous relevant experience. He went to university and qualified and practiced law in Scotland before taking up residence in Jersey where he worked as a senior associate with Ogier in their Business and Trust Law Group and most recently as Legal Manager for Close Brothers working across their Jersey, Guernsey and Isle of Man offices.
"Not only will Gary bring the legal expertise required in today’s environment, particularly in the hedge fund forum, but it will be very useful for IMS to learn about the way things are done in other off-shore financial centres and to compare the merits of both. Gary spent a short period of time practicing in Cayman with Turner and Roulstone but it is his experience with Close Brothers in Jersey that will be most valuable to his role at IMS."
