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Guy Major By Beverly Chandler, Opalesque London:

MaplesFS has announced the expansion of its fiduciary services division with the launch of Maples Fiduciary Services (Delaware) LLC. In an exclusive interview with Opalesque, Guy Major, Global Co-Head of Maples Fiduciary explained: "Opening an office in Delaware to expand our fiduciary offering is a natural fit for our clients. Since the credit crunch we have seen an enhanced focus on corporate governance. As a result, our clients are seeking to extend to their Delaware vehicles the independent governance solutions we have historically offered to their Cayman, Luxembourg and Irish vehicles."

It is an expansion of Maples FS’s business but beyond that Major said: "Many client structures have both onshore and offshore components so the ability to have the same professional service provider for Cayman, Dublin, Luxembourg and Delaware vehicles is a compelling competitive advantage."

Currently, Delaware fund structures do not generally mirror the practices in Cayman or other jurisdictions, where there are often independent directors providing oversight. "Investors are looking at why managers retain more control of Delaware structures, and regulatory changes are pushing managers to look for more independent governance options for Delaware structures. With the opening of this office, we are taking what we do in Cayman, Dublin and Luxembourg and applying it to Delaware" Major said.

Maples FS will be ......................

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