The global firm has appointed a managing director in the Caribbean jurisdiction.

Vistra Group, the global provider of corporate, trust and fund administration services, has expanded its Cayman Islands’ operations along with the hire of a managing director.

Clive Gibbons will lead Vistra Cayman Trust as managing director. Vistra Cayman’s service will be expanded to include the establishment of a broad range of Cayman trust, corporate and partnership structures. It will also include trustee and administration services and the provision of corporate and individual director and nominee shareholder services.

Gibbons has over 15 years’ offshore experience within the banking, trust and corporate services sector. He is a member of the Cayman Islands Directors Association and has previously served on a number of boards as a director. He is a qualified financial advisor, holds an International Compliance Association diploma in compliance management and is a director with ICSA Canada. Gibbons has worked in London, Guernsey and the British Virgin Islands before relocating to Cayman in 2013.

“While Cayman is known as the leading funds jurisdiction, we are seeing increased demand for limited partnership and other more sophisticated structures, as requested by international investors. Demand from Asia in particular has grown significantly in 2015, with Cayman incorporation numbers up by 40 per cent,” said Simon Filmer, managing director of Vistra British Virgin Isles with regional responsibility.

In January, Vistra rebranded itself following the acquisitions of Fiduciary Management Limited, an independent trust company business based in Jersey, in January, and the eastern European firm Trinity Corporate Services in November 2014. Last year, the group also launched Vistra British Virgin Islands.