REASONS WHY
The Benefits of the Maples Group Approach to Company Secretarial Services
INTRODUCTION
Documentation of board and shareholder meetings, regulatory filings and overall knowledge along with reporting on key business functions is a must in terms of relations between senior leadership, investors, key stakeholders and relevant government and regulatory bodies. In practice, however, this process can prove to be an administrative burden and efficiencies can best be realised through outsourced corporate governance support systems.
The Maples Group has extensive experience in delivering secretarial support that is at the forefront of industry best practice to allow client companies to concentrate on their core business objectives. Here we discuss five ways that the Maples Group sets itself apart in the delivery of outsourced company secretarial and board support services.
01 STRENGTH IN NUMBERS
Across the jurisdictions in which we operate, we bring strength and depth to our company secretarial practice. Average tenure amongst the team is high, which allows for an approach that is based in long-term thinking, collective sharing of information in addition to cumulative industry knowledge and perspective gained from working with client groups over many years working towards a meaningful partnership between Maples Group and client companies.
The Maples Group boasts the largest board support team in the Cayman Islands. Having such a sizeable team ensures consistent delivery of service, responsiveness, guaranteed meeting coverage as well as stability and continuity for client companies.
As the only dedicated company secretarial / board support team in Asia, our teams in Hong Kong and Singapore enjoy strong
relationships with the region’s investment managers and have many competitive strengths that serve our international clientele. Many of the team in Asia are multi-lingual, including English as well as Mandarin and Cantonese, which streamlines communications for our cross-border clients; in addition to allowing us to converse freely and support clients across the region, including in mainland China. We are also able to provide Chinese-language board meeting support, incorporating translation and preparing minutes.
In Ireland our progressive, dynamic and flexible team is one of the largest specialist company secretarial teams in the jurisdiction. In addition to investing in top talent, to support the continued growth of the team we have an established a Company Secretarial Graduate Programme where trainees complete rotations to provide exposure to the different sectors, entity
types and asset classes we service, whilst completing a Masters in Management and Corporate Governance and attaining the professional company secretarial qualification. While the Cayman and Asian client bases are weighted heavily towards investment funds, the Irish book of business is broad with a significant SPV and corporate component.
Recently, our UK Corporate Secretarial services team expanded to meet increased demand for services to holding companies, investment fund and structured finance vehicles. The team has expertise in UK corporate secretarial requirements, with a strong understanding of the UK corporate governance and regulatory landscape. The team takes a proactive approach to help clients stay ahead of constantly evolving requirements, such as those in the Economic Crime and Corporate Transparency 2023 Act.
A WELLSPRING OF KNOWLEDGE AND EXPERIENCE 02
The size of the global company secretarial team delivers breadth and depth of knowledge, skillsets and experience with backgrounds spanning board support, company secretarial, corporate governance and legal services. These diverse experiences bring multiple perspectives to our practice.
The company secretarial group in our Cayman Islands office includes former Cayman Islands Monetary Authority staff, legal secretarial and legal practitioners, audit, insurance, banking and financial services and compliance professionals, as well people with backgrounds in marketing, client relations, aviation and event planning. The board support team’s breadth provides comprehensive client service that is complemented by our organisation to ensure smooth leadership at board meetings and efficient administrative support.
In Ireland, the team provides company secretarial, registered office and entity management services to a wide range of clients across different sectors, including investment funds regulated by the Central Bank of Ireland, CLOs, aircraft leasing and structured finance vehicles. Consequently, our team boasts subject-matter experts across these varied asset classes and structures.
The majority of the Asia team’s clients are investment managers based in Hong Kong or Singapore, meaning that we can service clients during the Asian workday. Beyond providing top-quality company secretarial and board support, the team has specialised knowledge in an array of fund types. In addition to providing services for Cayman Islands-domiciled funds managed from Asia, the team also serve Hong Kong and Singapore corporate vehicles and funds, which are popular for Asia-based portfolio managers from major global private equity houses.
The long tenure of the global team has resulted in deep connections with local regulatory authorities and the corporate governance community.
By way of example, the team in the Cayman Islands boasts relationships with some 95% of the external independent directors in the jurisdiction which has led to continued referrals and introductions, seamless communication and ongoing collaboration. Most importantly, the team’s positive working relationships across this expansive network provides stakeholders with a sense of comfort, knowing they are supported by an experienced team and are receiving the best guidance possible while working with well-established partnerships within the jurisdiction.
In Asia, our investment manager clients in Hong Kong and Singapore enjoy having their queries handled in real time including liaison with administrators and audit firms to collaborate on reporting allowing for seamless service. Moreover, the Asia company secretarial team maintains excellent personal relationships with the region’s external directors.
Among these tools is Nasdaq Boardvantage™, an industry-leading software solution that enables users to access meeting documents in one centralised location via multiple devices, including smartphones and tablets.
EFFECTIVE TECHNOLOGY 04
Further facilitating connection is the team’s use of the latest in technology to manage and secure vital documents such as board reports and meeting materials. Among these tools is Nasdaq Boardvantage™, an industryleading software solution that enables users to access meeting documents in one centralised location via multiple devices, including smartphones and tablets. The platform allows for custom access levels with security features such as two-factor authentication and tamper-proof storage, by way of repository for board meeting packs
and past meeting minutes. Our boardroom suite is readily available upon request and presents boards of directors with a polished and professional forum for pre-meeting preparation, in-person meeting access to documents and seamless audio-visual integration. The company secretarial team recently introduced an enhanced tool to assist with taking minutes that allows for both speed and accuracy, while retaining the internal controls, data security and industry standard minutes for the boards that we serve.
THE POWER OF ONE GROUP
Clients of the Maples Group benefit from our One Group philosophy with access to a comprehensive suite of complementary solutions delivered by award-winning teams across fiduciary, fund services, regulatory, entity formation and legal services.
This ensures client companies can be effectively supported no matter how business evolves. The Maples Group partners with client companies to create a customised set of tools to fit their size, structure, and risk assessment profile. Our bespoke approach allows companies to concentrate their energies on the core business rather than on administrative work. Our clients benefit from streamlined reporting with easy access by key stakeholders, including authorised representatives and regulatory bodies, as well as an integrated institutional governance structure that allows all parties to gain comfort that their corporate governance requirements are being met.
Legal Ser vices
Entit y For mation & Management Ser vices
Fiduciar y Ser vices
MAPLES GROUP
Regulator y & Compliance
Fund Ser vices
ABOUT THE AUTHORS
HEIDI CHAPMAN
Heidi heads up the Cayman Islands corporate secretarial team and has worked in corporate governance roles for more than 10 years offshore; providing a full complement of company secretarial services to the Cayman Islands funds from board support services, director registration / deregistrations, committee, shareholder and meeting services as well as formal company secretary appointments. She holds a bachelor of arts (Honours) from the University of East London. Heidi is a member of the Chartered Governance Institute UK & Ireland; a Committee Member of the Cayman Island Chartered Governance Institute UK & Ireland; and a member of the 100 Women in Finance.
HOLLY WILLSON
Holly, who is based out of the Singapore office, has worked in a number of fund services roles and has experience in open-ended investment companies (“OEICs”), unit trust, fund administration and pension reinsurance schemes. She holds a bachelor of science degree in business management from the University of East Anglia in the UK, as well as a business analyst certification from the Chartered Institute for IT.
SHANE TOOMEY
Shane has 20 years’ experience providing company secretarial services in Ireland and offshore financial centres. He previously worked in the Cayman Islands and Hong Kong offices of Maples Group and established the Group’s first board support services offering in Asia in 2018. Shane now heads up the Irish company secretarial department. He holds a Bachelor of Civil Law degree from University College Cork in Ireland and a professional certificate in Investment Fund Services from Institute of Bankers. Shane is a qualified company secretary and an Associate of the Chartered Governance Institute (formerly the Institute of Chartered Secretaries and Administrators).
