Offshore services firm Maitland Group is to launch a Cayman Islands-based law firm after recruiting former Walkers partner Sara Collins.
Maitland has traditionally opted to position itself as an offshore trust services company, but managing director Steve Georgala said its strategic objective is now to build a law firm in each of the jurisdictions it operates in.
"Sometimes these will have to be separate firms which are aligned with Maitland," he said. "We started with the Cayman Islands because it's the easiest jurisdiction to launch in. We'll be launching a trust company there later this year."
It comes as offshore firm Harneys announced its move into the jurisdiction following a merger with Cayman firm CS Gill & Co.
Harneys global head of investment funds Kieron O'Rourke and fellow partner Tim Clipstone will relocate to Cayman from the British Virgin Islands office to spearhead the firm's growth.