LONDON: The lawyer who built the most successful offshore law firm in the world has announced his return to the profession after a six year break from practice.
Anthony Travers, OBE, currently Chairman of the Cayman Islands Stock Exchange, became Senior Partner on December 1 with boutique Cayman Islands and BVI law firm Thorp Alberga.
The ten-partner firm, renamed Travers Thorp Alberga, has offices in Grand Cayman and Hong Kong and specializes in investment funds, financial services, government relations, and private clients.
Travers’ close friend, 30-year veteran Michael Alberga, has moved to Managing Partner.
Travers was previously the Senior Partner of Maples and Calder and led that Cayman Islands firm to its earlier position of dominance over a 30-year period culminating in the establishment of a global network of foreign offices.
In the early 1990’s he prepared the legislation which established the Cayman Islands investment fund and private equity industries, and later the legislation on asset protection.
He was former President of the Cayman Islands Law Society and high profile advocate of offshore financial centers. After retiring from Maples and Calder in 2006, Travers had a non-compete clause which lasted all of six years.
Apart from various global business interests he was asked to head up and raise the global profile of Cayman Finance, the private sector representative body, and he served from 2009 to 2011 on a pro bono basis. He will continue in his role as Chairman of the Cayman Islands Stock Exchange.
Travers said: “My six year non-compete with my old firm has now expired and a number of my former clients have asked me to step back in. Given macroeconomic and onshore regulatory changes, it is time for some fresh thinking in the provision of offshore legal services.
“I was attracted to the firm because a number of my highly experienced former colleagues are already partners and their expertise in financial services and regulation is second to none. In a fast changing regulatory environment the firm’s emphasis on Government relations is now a very necessary part of a comprehensive client service.
“The firm also has a unique philosophy on fees which is highly relevant to the current financial climate and compelling. There have been recent criticisms of the old offshore law firm model which is clearly no longer as appropriate in changing circumstances and is obviously not working as well as it once did.”