Offshore top 30 position: 6
Carey Olsen made a significant move outside its home jurisdiction of the Channel Islands last year, formally opening in Cayman in December after hiring two partners from Maples and Calder, in addition to a Maples associate and an Allen & Overy associate, both of whom joined as partners.
After years of being one of the few offshore firms without a base in the Caribbean, the launch was prompted by client demand, which also led Carey Olsen to form an association in the BVI in January 2013 with two-partner firm Hempel & Boyd.
The firm decided not to merge with an existing Cayman practice, its aim being to maintain its brand, reputation and service standards.
However, the Channel Islands base was not neglected: in January 2012, Jersey lawyers Peter German and Daniel O’Connor were promoted to the partnership.
Carey Olsen said its revenue had grown above inflation between 2011 and 2012, without specifying by how much. Chairman John Kelleher said the strength of the growth was “surprising in the current climate — economic conditions are such that it’s difficult to predict dealflow with any certainty, although we have continued to enjoy a strong pipeline over recent years”.
The next year is likely to involve further consolidation and integration of the firm’s new Caribbean offering, although it is also considering its options in Asia.
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