Kinetic Partners, the financial services advisory firm, has promoted Jess Shakespeare to the position of member in the Cayman Islands, working in the corporate recovery and forensic and dispute advisory team, as the business boosts its work in the area of “zombie funds”.

Kinetic Partners, the financial services advisory firm, has promoted Jess Shakespeare to the position of member in the Cayman Islands, working in the corporate recovery and forensic and dispute advisory team, as the business boosts its work in the area of “zombie funds”.

Zombie funds are distressed structures from which investors cannot easily extract themselves. Such a fund is a closed with-profits fund that no longer writes new business or policies and so it is running its portfolio until the final policy matures; they often provide poor return on investment once a fund closes.

"The growth of our Cayman office and service offering is focused on our experts’ understanding of the challenges which can arise from changing market conditions in a dynamic industry," Mark Longbottom, member at Kinetic Partners’ Cayman Islands office, said.

Earlier in April, Kinetic Partners announced promotions in its Hong Kong team. AnnMarie Croswell was promoted to member and Katrina Banh to associate director within Kinetic Partners regulatory compliance team in the jurisdiction.

Kinetic Partners has a team of 140 across its eight offices in London, Dublin, Grand Cayman, New York, Switzerland, Hong Kong, Luxembourg and the Channel Islands.