Winston Connolly a partner of ESG-focused law firm coming to Cayman | Loop Cayman Islands

The content originally appeared on: Cayman Compass

Another global law firm will call Cayman home.

Chancery Advisors Ltd, a London-based law firm that serves global hedge funds and investment banks, has announced the launch of ChanceryESG, based in Cayman which will have a combined focus of ESG, digital asset transactions and sanctions.

Winston Connolly, a Cayman Islands-based attorney, will be a Senior Partner of ChanceryESG. Mr Connolly was previously the Director of his own business, prior to which he served as Managing Partner at Lainston and Partner and General Counsel for HighWater. He was also a an independent Member of the Legislative Assembly between 2013 and 2017.

“The firm has the advantage of being able to build out a practice with the new economy in mind and be attuned to the needs of clients from day one. We are very excited by what the future holds for the firm,” says Conolly of his new appointment.

According to Chancery, Cayman is especially relevant to the future economy. In a statement released yesterday, the law firm indicated that “the constant framing of Cayman in tax terms, both by politicians scapegoating it and those defending its tax neutrality, is a tired war of attrition. While increasing fragmentation in the global economy is fast becoming a reality, ESG, digital asset transactions and sanctions seek to buck this trend. Important financial centres are already showing that these are now the three pillars of the future economy.”

Dan Harris, a founding partner of Chancery Advisors, believes the time is right to offer joined-up thinking on ESG, digital asset transactions and sanctions.

The siloed nature of most law firms prevents them from making the connection between ESG, digital asset transactions and sanctions. In practical terms, all three impact what, with whom, and how clients do business in the real economy and in the financial markets. They are increasingly part of the same conversation.

“We see Cayman through a different lens,” says Harris. “As the clock ticks down on climate change, ESG needs capital with a short investment horizon. Digital assets need trading, not investment capital, to achieve sustained liquidity. Investment vehicles domiciled in Cayman, in contrast to many long only funds onshore, have the right kind of capital. Similarly, this capital is high quality capital. There is no sanctions arbitrage. Cayman tracks UK sanctions. This all means that Cayman will be front and centre in the future economy. ChanceryESG will be uniquely positioned to be the leading firm in this space”