FTI Consulting has strengthened its team in the Cayman Islands (a British Overseas Territory) with Rudolf Weder and Sean Lilley, appointed a Managing Director and Director respectively.
Both senior leaders join FTI Consulting’s Fund Administration Services practice, which provides fund administration and other corporate services to private fund operators and other investment structures.
“We are delighted to expand our services to investment funds in the Cayman Islands with Rudolf and Sean,” said Andrew Morrison, a Senior Managing Director at FTI Consulting in the Cayman Islands. “They bring a unique blend of alternative investment experience and knowledge to support the outsourcing requirements of investment funds.”
Over the past decades, the Cayman Islands has grown into one of the world’s leading domiciles for investment funds. According to data by offshore law firm Carey Olsen, the Cayman Islands attracts 80% of all new offshore fund formations and houses more than three quarters of the world’s offshore hedge funds and nearly half of the industry’s estimated $1.1 trillion of assets under management.
The popularity of the islands hinges on a number of edges, including tax neutrality, its proximity to the US, its bespoke fund legislation and regulatory regime, as well as the jurisdiction’s fundamental appeal as a stable British dependency with a judicial system underpinned by English common law.
FTI Consulting has a strong presence in the financial advisory and investment outsourcing segments of the industry, with Weder and Lilley adding to the firm’s capabilities.
Weder brings over 10 years of experience in the establishment, administration and accounting of investment funds in the Cayman Islands. Prior to joining FTI Consulting, he was the Senior Fund Accountant for investor services group IQ-EQ, where he was responsible for accounting and administration services.
Before that, he was a Mutual Fund Account Manager for CIBC Bank and Trust Company, where he serviced specialised hedge funds. His portfolio of clients included master/feeder structures and segregated portfolio companies.
Lilley brings over eight years of accounting experience with the Big Four and fund administration. Prior to joining FTI Consulting, he was an Accountant for Ocorian, where he provided directorship, regulatory and voluntary liquidation services. Prior to this, Lilley held positions at CIBC Bank and Trust Company and PwC in the Cayman Islands, where he specialised in hedge funds and private equity funds.