Cains Fiduciaries Appoints New Directors

The addition of two new directors to the board of Cains Fiduciaries Limited leaves the Douglas-headquartered company well placed to capitalise on opportunities in an ever changing business environment, said director Oliver Webster.

Ryan Cregeen and Stuart Gibson will be joining the board in July as John Killip steps down after 7 years as one of its directors.

CFL Directors

Oliver Webster said the depth and breadth of the skills and experience of Cains Fiduciaries’ directors and its relationship managers are a key strength. ‘Ryan and Stuart both bring valuable skill sets and extensive experience which complement our offering and are important in delivering the service excellence that makes Cains and the Isle of Man in general attractive,’ he said.

Prior to joining Cains in 2009, Ryan Cregeen was the finance director of Security Capital European Realty, a European real estate fund based in London.

At Cains he is responsible for heading up a team managing a portfolio of corporate and institutional clients with a focus on commercial real estate funds, institutional investment funds and listed holding companies.

He gained his ACA qualification at Deloitte (London) in 1997, having graduated with a first-class honours degree in theoretical physics from St Andrews University.

Stuart Gibson, who joined Cains in 2010, heads up a team managing a portfolio of high-net worth private clients, using a variety of structures for succession, investment and tax planning purposes. He was previously a director of Close Trustees (Isle of Man) Limited. An associate of the Chartered Institute of Bankers, and a member of the Society of Trust and Estate Practitioners and the Chartered Institute for Securities and Investment, Stuart Gibson has over 20 years’ experience in the offshore fiduciary industry having also worked in the Cayman Islands and the Channel Islands.

‘We are a niche team and not a volume driven business’, said Oliver Webster. ‘We service client groups, with collective assets materially in excess of $12.5bn. Russia and India have been particularly important geographical areas for us, and UK commercial real estate the most important sector in recent times.’

In the current economic climate, restructuring is another active area of the business at the moment. ‘Banks have clearly over lent to commercial real estate structures and on other asset classes in the past and we are working to facilitate the restructuring and reorganisation of these problem cases with the banks or in some cases where receivers have been appointed.’

Oliver Webster praised the contribution of John Killip, who has been with the company since its inception. ‘John is a real stalwart of the fiduciary business so we are very pleased that, while he will be stepping down from the board, he will still be with us in a relationship manager role going forward.’

John Killip, whose background is in banking, joined Cains in 1988, quickly establishing himself in its company administration department and has been instrumental in the businesses growth over this time.