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Cayman Funds 2016

MUFG ALTERNATIVE FUND SERVICES (CAYMAN) Monette Windsor, managing director of MUFG Alternative Fund Services (Cayman), describes some of what happened when her previous company was acquired late last year and what others can expect when such a transaction takes place. CAYMAN FUNDS | 2016 25 Shutterstock / Edyta Pawlowska On December 11, 2015 MUFG Investor Services purchased the Alternative Fund Services business from UBS. Included in the deal was the Cayman Islands offi ce, for which I am the managing director. It was the fi rst time in my career that I had been involved in a transaction and it has been a very challenging, interesting and ultimately fruitful journey for colleagues, clients, myself and the region. At times it felt as though I was in a Hollywood movie with lots of excitement and suspense. When people fi rst hear the news that their company may be for sale, the fi rst thought they have may be “Yikes!” or some other more colourful expletive. It’s a natural reaction to be worried and concerned about your job security and that of your colleagues. Who’s going to purchase you and what will their view on Cayman be? Will you still have jobs at the end of all this? We had witnessed other admin shops go through acquisitions or changes in business strategy, resulting in jobs leaving Cayman for other, lower cost jurisdictions. So it was a valid concern that I knew my colleagues and clients would have, when they found out we were for sale. Keeping mum By far the most diffi cult part of being put up for sale is not being able to tell people. You have to sign a non-disclosure agreement prior to being brought ‘over the wall’. Legally you can’t discuss the potential


Cayman Funds 2016
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