Cayman Islands is going from strength to strength on Sunday, 1 July when they appointed Managing Director David Walker as the first Cayman Islands Corporate Finance and Recovery Partner since the formation of PwC's Caribbean and Bermuda region, which includes the largest Corporate Finance and Recovery practice in the Caribbean.
PwC in the Caribbean and Bermuda comprises of a region of eight independent PwC firms with more than 80 partners and 1,000 professional staff who collaborate together within the PwC global network.
"This is a great step forward," said PwC Senior Partner Nick Freeland. "Few people in the world have David's level of expertise. He's made a huge impact on our clients and our firm since his arrival in 2004."
He added, "David has attracted top quality work, delivered world-class solutions and developed great relationships with his clients and his team. Both PwC and Cayman are benefiting greatly; thanks to David's unique experience - we're undoubtedly helping to advance PwC and Cayman as a heavyweight in the global insolvency and restructuring arena."
Mr Freeland said: "And you know what the funny thing is? Most people already thought he was a Partner. Now we're very happy to announce that it's official."
David Walker admits that he is delighted and is quick to give his Corporate Finance & Recovery (CFR) team credit: "Of course I'm thrilled to accept this new privilege and responsibility, but I must a lso acknowledge the great CFR team that supports me every day - they're true professionals."
Mr Walker is also swift to point out that the quality of work in Cayman is not only high calibre, but also more interesting than anything he's ever done in many years in the industry. "I've had the opportunity to work on many high-level projects around the globe," he adds, "but my work in Cayman has been the most fascinating thus far. And it's my goal to make PwC and the Cayman Islands the number one centre of excellence for corporate restructurings, forensic investigations and insolvency. The aim is to have companies and their advisers want to use our services in Cayman, no matter where the physical presence of the companies or funds are. To do this requires a firm such as ours with a local presence and a global reach and capabilities across many services and industries, and it is this which differentiates us."
The PwC Cayman CFR team includes six insolvency-qualified accountants and three other professional staff, the team having qualifications in business, finance and insolvency.
One such professional is Caymanian native Jodi Jones, a newly promoted Assistant Manager with six years experience at PwC Cayman. Jodi enjoys the working environment with her fellow insolvency professionals and enjoys the calibre of work, which means interacting with clients from across the globe.
Mr Walkers' impressive track record includes cross-border insolvency transactions in Europe, Asia, Australia, North and South America and the Caribbean and his recent appointments include appointments over companies in the hedge fund, insurance, telecommunication and property industries.
The Cayman Islands Corporate Finance and Recovery Services ( CFR ) practice comprises both PwC's Business Recovery Services ( BRS ) group and their Dispute Analysis and Investigations ( DAI ) group.
PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders.
More than 140,000 people in 149 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice. The local practice, through its legacy firms, has been established in the Cayman Islands for over 40 years with significant experience with the financial services sector.