An independently-owned Cayman Islands Trust Company specialising in contentious trusts, philanthropy and complex trust structures.
At IMG Trust Company we aim to be the Gold Standard of curated service, lasting connection and game-changing integrity in the trust industry. A Cayman Islands Trust Company that delivers consistent and proactive service, led by a team of experienced lawyers who know how to handle even the most complex and contentious situations.
We bring together global expertise and a deft touch; helping clients resolve challenging and complex situations and projecting them forward, on a greater path.
We will be around for the good times and for when things don’t go according to plan. We are here for our clients when you need us most, now and for generations to come.
We have extensive experience in contentious trust litigation, including challenges to the validity of trusts and the transfer of assets, and the recovery of assets misappropriated by third parties.
Our expertise also extends to divorce-related claims on trust funds and cross-border proceedings.
As lawyers ourselves, we can manage litigation and coordinate with lawyers worldwide to ensure our clients’ trusts receive the best legal representation possible.
Formalising and institutionalising philanthropic giving has never been more prevalent than it is today. IMG have significant experience in this area, and have worked with a number of families in the creation of charitable trusts, the drafting of charitable policies and charters that match each family’s core principles, and the administration of those charities. We are deeply committed to improving mental health care and have committed to an ongoing program of grants to local charitable causes in the Cayman Islands.
We work with families who own diverse assets across different locations and asset classes, including cars, yachts, art, real estate, and investments. This demands multi-jurisdictional tax advice, compliance reporting, and investment performance monitoring.
We also help families who have built their wealth through family- owned businesses by developing and implementing family charters to guide the next generation.
From our base in the Cayman Islands IMG provides a full range of professional fiduciary services to ultra-high net worth individuals, families and global businesses from around the world.
Our business model is to focus on a few exclusive family and commercial clients, rather than spread our expertise too thinly. This means that clients will always be looked after by IMG’s principals directly, rather than being passed across to more junior staff.
At IMG we aspire to be the Gold Standard of curated service, lasting connection and game-changing integrity to the trust industry.
IMG provides specialist trustee services for family reserved powers trusts, discretionary and life interest trust trusts and philanthropic trusts, whether these are in the form of regular trusts or are created under the STAR Trust regime. Whilst our preference is to deal with our family clients directly, we realise this is not always possible and are equally happy dealing with family offices or professional advisers for each family.
Now well-established in the Cayman Islands as a corporate alternative to the trust, IMG has experience of providing director, administrative and company secretarial services to foundations. These can be for the benefit of families or philanthropic purposes. We can work with clients and lawyers to help put the correct structuring in place that achieves each founder’s goals.
As experienced trust professionals, IMG’s principals know what is required of a protector or an enforcer. Equally, as a protector or enforcer, we are fully aware of what a trustee’s responsibilities and duties are. That places IMG in the ideal position to act as a protector or enforcer of trusts, joining with both trustees and families to ensure that these relationships work for the long-term benefit of each trust and its beneficiaries.
IMG’s principals have had extensive experience in taking over trusts from trustees where either the relationship between the trustee and the beneficiaries has broken down, or the trustee (for its own reasons) has decided to resign. This is often a more difficult process than taking on a new trust, requiring insight and delicacy in our dealings once on board. Whilst normally appointed by the means set out in the trust deed, we have also been involved with trusts where we have been appointed by court order.
Where we provide a trustee or director service to client structures, we also offer the provision of corporate services for entities that may be formed as part of those structures. This will include the provision of incorporation and registered office services.
We believe that, as a small trust company, we should focus on what we do well and outsource ancillary services such as accounting to third party specialists. This will usually be more cost-effective for our clients, but it will also provide them with the reassurance that our management of each client structure is reviewed each year by independent accountants as part of the preparation of financial statements.
In this age of transparency, IMG has the capability to ensure that each client structure it administers complies with its Cayman and international tax reporting, as well as complying with its Cayman substance requirements.
Sometimes clients want to have a detailed investment report regularly covering all their trust’s portfolios. As trustee we may also require this in appropriate cases. We have developed good working relations with a specific investment reporting company that can assist with the oversight of investment performance by preparing regular analysis, benchmarking performance, a review of actual hedging across all portfolios etc.
IMG’s principals have had extensive experience in recent years in the establishment and maintenance of philanthropic trusts and private foundations, including the development of specific philanthropic policies, selecting deserving charities or causes for benefit, evaluating funding proposals, involvement with university bursary schemes, mental wellness facilities and services, and climate research grants. Philanthropy now features prominently as a main priority of our clients and we are delighted to be able to help achieve their goals.
IMG is committed to socially responsible investment. We believe that the investment market now caters so well for ESG investments globally as to make ESG a sound, as well as ethical, investment strategy for the medium to long term. This commitment is a consistent one: we also look at it in the context of Philanthropy as well.
Aircraft and yachts have become very popular assets held in family trusts. IMG is familiar with the structures necessary to hold these assets, the administrative infrastructure needed to keep these assets functioning and available for both the enjoyment of families or for lease in select rental markets.
Just about any asset can be held in trust and IMG has expertise as custodian and administering many of them, from commercial or residential real estate around the world, to treasured collections (cars, art) and large-scale private businesses.
Peter has particular expertise in complex trusts litigation, asset recovery, turning around distressed/poorly administered trusts, the development and implementation of innovative philanthropic programs and the oversight of significant operating businesses held within trust structures. He specialises in providing personalised trust and administration services for private trust clients worldwide. Peter is a former barrister with extensive experience in the international trust sector, including private and commercial trusts and corporate management and 30 years in the private client industry. He has spent his career working cooperatively and building partnerships with high-net-worth individuals, their families and their advisors and strives to deliver the highest levels of service and responsiveness.
Prior to establishing IMG, Peter was head of private client services with the Maples Group in the Cayman Islands, an executive director of Forbes Hare Trust Company in the Cayman Islands and a partner in the Private Client Group of McGuireWoods LLP in London. Prior to that, Peter held the position of Managing Director of ATC Trust Group's offices in the British Virgin Islands, the Cayman Islands and Hong Kong, as well as being a shareholder of the group. Peter is a member of the Society of Trusts and Estate Practitioners (STEP).
Maxine Bodden is a highly experienced private client advisor and trust expert, with a strong legal pedigree advising the world's leading banks, trust companies, family offices and HNW private individuals on the establishment and ongoing administration of Cayman Islands trusts and foundation companies.
During her legal career, Maxine became recognised as a leader in the use of private trust companies and all matters concerning the licensing, registration and operation of private trust companies. She also has extensive experience advising clients on matters related to wills and the administration of estates. These skills were honed while Maxine was Of Counsel with the Maples Group in the Cayman Islands where she was ranked in the Legal 500 and Chambers and Partners High Net Worth Guides as a leading lawyer. Maxine is also listed in the 2022 Private Client Global Elite directory, acknowledging her position as one of the world’s most respected private wealth industry professionals, nominated by her peers featuring just 250 individuals globally each year.
Maxine is the immediate past Chair of the Society of Trust and Estate Practitioners (STEP) Council in the Cayman Islands. She also the former chair of the Cayman Islands Work Permit Board.
Avinash is a Fellow Member of the Association of Chartered Certified Accountants (FCCA).
With a financial services career developed exclusively offshore (in Mauritius from early 2004 until he moved to Grand Cayman in September 2017), Avinash has a depth of experience gained through roles in global banks, top four accounting firms and a global fiduciary group.
Avinash has specific expertise in dealing with the reporting demands of regulators, as well as hands on client service experience through direct engagement with both existing and prospective clients.
Having recruited, mentored, trained, and developed teams in previous roles, Avinash is ideally placed to grow with IMG and put to good use his management skills and technical expertise in the preparation of corporate, trust and consolidated financial statements in accordance with IFRS, FRSs and US GAAP.
Avinash is a highly collaborative accounting professional with a technical, yet commercial mindset and the rare ability to service the needs of private clients and institutions.
At 29, Abigail was made Partner at a long-established UK-based law firm and has held several positions in advisory, in-house and academic roles, currently tutoring Trusts Law at St Catherine’s College at the University of Oxford.
A highly respected Trusts lawyer, Abigail has advised on all aspects of Private Client Law, including the preparation of wills, trusts and their accounts. She has extensive experience both on and offshore, in the administration of complex estates and trusts, including intestacies and multijurisdictional estates.
Abigail has advised in the purchase of a large Cayman business including licensing and share purchase agreements and has provided legal advice to major Cayman associations, businesses, charities and authorities.
Educated at Cardiff University, Abigail qualified as a solicitor in 1989 and has been a member of STEP since 1993.
2 October 2023
We’re proud to have teamed up with Rebecca Eastmond from Greenwood Place to write this article. Her invaluable perspective as a Charity Grant Administrator focusses on the pressing global need for change and highlights the importance of…