The In’s and Out’s of Banking for Intermediaries
1 May 2006
Contact: Sophie Ebanks, Marketing Manager, firstname.lastname@example.org
Source: Deutsche Bank (Cayman) Limited Article
Financial Intermediaries, the link between the client and the ultimate service provider, have been a part of the Cayman financial landscape for many years. There is now a diverse range of intermediaries, each having varying needs and requirements from their banking service providers.
These requirements are no longer confined to just a few fixed deposit and call accounts, and the demand for a professional banking partner with a suite of appropriate products has increased. Additionally, intermediaries are keen to partner with banks that can add value to the service they provide to their own clients. This has caused many banks to develop focused marketing strategies for this segment of the market.
Since the Cayman Islands is recognized as the domicile of choice for offshore hedge funds, and since it is competing with Bermuda in that arena for captive insurance companies, many hedge fund administrators and captive insurance managers form part of the local financial intermediary market. Others include trust companies, company management firms and investment managers, to name a few. While each industry is unique and should be considered so for direct marketing purposes, as intermediaries they have some similar banking requirements.
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