This relationship will increase Maples and Calder’s capabilities by allowing it to offer a full range of Channel Islands legal advice to its clients through Carey Olsen’s lawyers, both in Jersey and Guernsey.

It will also give Carey Olsen’s clients access to the offshore legal services provided by Maples and Calder, particularly in relation to Cayman Islands and British Virgin Islands law.

As part of this arrangement, Maples and Calder will cease to practise Jersey law. Its existing Jersey legal clients will be referred to Carey Olsen as part of a ‘best friends’ relationship between the two firms. It is anticipated that most of Maples and Calder's Jersey lawyers will either move elsewhere within the Maples and Calder group or join Carey Olsen’s Jersey office.

The lawyers advising on Cayman Islands law in Maples and Calder’s Jersey office will continue to do so as before. Maples Finance‘s Jersey operation will also remain unchanged.

Henry Harford, the Managing Partner of Maples and Calder’s London office, explained that:

“We operate in a number of offshore jurisdictions and our lawyers excel at analysing the benefits and opportunities provided by their respective regimes. Our aim is to find the best and most cost effective solutions for our clients. The new arrangement with Carey Olsen supports that model."

He continued: "It allows us to offer our clients unparalleled access to expert legal advice in the Channel Islands and strengthens our offering across the principal offshore jurisdictions. This is similar to the ‘best friends’ business model adopted by a number of leading London firms. There are significant parallels between our organisations and we look forward to building a closer relationship with Carey Olsen.”

The Managing Partner of Carey Olsen’s Jersey office, Alex Ohlsson, added that:

"The association between our firm and Maples and Calder will be stronger than the sum of its parts. Maples and Calder’s clients will have access to the highest quality Jersey and Guernsey legal advice. Our clients will benefit from our ability to refer matters requiring Cayman and BVI legal advice to Maples and Calder."

"This development is a logical step in our approach to the international market where our strategy remains to be the leading law firm in the Channel Islands. We prefer this approach to that of establishing small presences in other offshore jurisdictions where it is hard to compete effectively with existing firms."

And concluded: "Together with Maples and Calder, we will be able to ensure that our respective clients receive the highest service levels in all key offshore jurisdictions.”

The arrangement between the two firms takes immediate effect.