Brad Adderley Appointed Office Managing Partner
Appleby has appointed Brad Adderley as the new Office Managing Partner in Bermuda, effective on January 1, 2022.
A spokesperson said, “Tim Faries, who has completed two terms as Office Managing Partner in Bermuda, will continue with his global position as CEO of Appleby Global Services [AGS], Appleby’s specialist corporate and trust services provider which he became CEO of in 2020. Tim will also continue to be a partner at the firm.
“Brad will also head Appleby’s Corporate practice in Bermuda and the firm’s Insurance & Reinsurance sector globally, positions Tim has held for more than ten years.”
Mr. Faries said, “With the increasing growth of our AGS business and after six years as Bermuda Managing Partner and many years as head of our corporate practice, it is time to pass the leadership and daily operations of the Bermuda office to my very worthy colleague Brad who I know will infuse the business with the enthusiasm, dedication and high standards he is known for.
“There are a lot of exciting opportunities across our six AGS offices which I look forward to developing, while continuing to be a partner in Appleby’s Bermuda office where I can continue to support the partnership and our wonderful team of people.”
Mr. Adderley said, “Tim has done a first-class job leading our Bermuda office and corporate practice. We have a team of highly skilled lawyers and professionals, and I look forward to continuing Tim’s great work, with their support.
“I am thankful for Tim’s wise leadership over so many years. Tim’s long-standing experience and knowledge assisting clients with corporate, insurance and regulatory compliance mandates will help lead our AGS business to even further success.”
Malcolm Moller, Appleby’s Global Managing Partner, said, “Brad and Tim are the epitome of excellence and steadfast dedication to their clients and colleagues. I know Appleby’s Bermuda office will be in great hands with Brad’s commercial acuity and ‘can-do’ attitude and AGS will become a leading corporate and fiduciary business with Tim’s continued leadership.”
The spokesperson said, “Brad has extensive experience in the re/insurance market and specialises in ILS and alternative collateralised reinsurance investment transactions. He has advised clients on a wide range of transactions including catastrophe bonds, special purpose insurers, sidecars, life insurance securitisations, and other fully collateralised structures, in addition to corporate structures and M&A transactions.
“Brad is also a member of Appleby’s global Technology & Innovation team, providing comprehensive advice in connection with all aspects of initial coin offerings and the carrying on of digital asset business.
“Brad is ranked in Band 1 for Insurance by Chambers Global 2021 and clients say he is “one of the most notable insurance lawyers, both in Bermuda and internationally.” He regularly appears in major insurance transactions and is well regarded for his deep knowledge of reinsurance, securities and insurance company formation mandates.
“Clients say that Brad is very sensitive to commercial realities in the insurance industry and he has given us actionable advice. Brad is also consistently recognised by Legal 500 as a ‘Leading Individual’ in Insurance/Reinsurance and by IFLR in the Financial, Corporate and Insurance/Reinsurance categories.
“He is a founding member of ILS Bermuda, the trade association for the ILS industry and is a member of the steering committee. Brad has been recognised by Bermuda:Re+ILS for his significant contribution to Bermuda’s re/insurance sector and featured as a member of Bermuda’s Risk Transfer Hall of Fame.
“In addition to Tim’s leadership roles, Tim has long-standing experience assisting clients with non-contentious corporate, insurance and regulatory compliance mandates.
“Tim has extensive experience of public and private insurance company capital raising and M&A activity, public listings on US, UK and European securities exchanges, the establishment and licencing of alternative risk financing vehicles such as cat bonds and other insurance-linked securities and captive insurance companies in established and emerging markets.
“Tim is recognised as an ‘Eminent Practitioner’ in Insurance by Chambers Global 2021 where he is described as a “valuable and trusted adviser,” with clients saying that he is always able to help find a solution to a problem. Tim is also consistently recognised by Legal 500 as a ‘Leading Individual’ in both their Insurance/Reinsurance and Corporate categories.
“Tim is further recognised as a ´Leading Lawyer´ in IFLR’s Banking and Capital Markets category, where a client said that ‘Tim is excellent, and frankly he really is my go-to guy for anything that’s complicated. He’s got a good style to him, he’s very pragmatic, very responsive, and I’ve been very happy with him.’ Tim has also been recognised by Captive Review as “a respected attorney well-versed in the establishment and licensing of all alternative risk financing vehicles in Bermuda.”
