A Woman-at-Law speaks to the bankers

Woman attorney-at-law Sherri Bodden-Cowan talks
about immigration

Sherri Bodden with her father Norman Bodden

(L-R) Sherri Bodden, Lynn Bodden and associate
Shiona Creary are the attorneys that make up the all
female law firm

Sherri with her husband Wayne

Sherri Bodden talking about a case with her secretary
Jennifer Felder

Sherri Bodden

Monday, April 11, 2005

One of the most unique things about Bodden & Bodden Attorneys at Law is that it is an all-women law firm. Founding partner Sherri Bodden didn’t plan it that way. She started the firm with colleague Lynn Bodden who had articled for her a few years earlier. Then they hired another female attorney and it took on its own momentum. 

Moreover important as it is there is much more to Ms Bodden than her law practice. Her service to the Government and the community continues a family legacy of public service that started with her grandfather. 

“My family in the Cayman Islands goes back at least five generations and we have a history of being civic-minded. My maternal grandfather was in the Vestry (serving the function of the present day Legislative Assembly years ago) and my father served in the Legislative Assembly and was an Executive Council member up until 1992.”

Ms Bodden completed her law degree in the United Kingdom and moved back to Cayman in 1987, where she has been practicing for 17 years. 

She began as an associate of Hunter & Hunter and then as an associate and partner at Ian Boxalls. She retired temporarily from law in 1998 to spend more quality time with her husband, Wayne, and three children, Alex, Thomas and Gemma. 

She remained active on various Government boards and, in 1999, established Bodden Corporate Services Ltd, a corporate management service provider, with her father, Norman Bodden. In 2002, Ms Bodden and her partner started the Bodden & Bodden law firm. 

Although she is best known for her work on Immigration Law, Ms Bodden has served on numerous civic and private boards from adoption and the drug council to banking and telecommunications.

She recently gave an address to the Cayman Islands Bankers Association where she discussed balancing the needs of the workforce following the effects of Hurricane Ivan.

She spoke extensively about how the offshore financial services sector had relocated to other jurisdictions but how important it was that they came back.

“Within days, and in some cases, within hours of the devastation caused by Hurricane Ivan, most businesses within the financial community had relocated to other jurisdictions and were quickly able to service their clients with their usual efficiency.

“In these jurisdictions, most of them direct competitors with the Cayman Islands, these institutions were welcomed with open arms. Banking licenses and work permits together with all other necessary permissions were issued and an almost seamless transition to business as normal was achieved. Just as quickly it seemed businesses relocated back to our Island and everyone seemed to breathe a tentative sigh of relief that our financial community had survived one of the greatest challenges to its very existence. 

“There is no doubt that had the majority of businesses not returned the financial community, as we knew it, it would not have continued to exist.” 

Ms Bodden went on to explain that there were several reasons why the organizations were quick to return to the Cayman Islands.

“In my view, the institutions returned for a number of reasons. First, because the well trained educated and qualified Caymanians who work in the financial industry and who were relocated abroad wanted to come home. Even with the devastation wrought by the hurricane their desire to return and rebuild rather than remain abroad would have been a very persuasive factor in the decision made by these institutions to return. 

“Second, many companies remained confident that the Cayman Islands would recover and recover quickly. This confidence has been well placed when we look at the growth being experienced in most areas of banking including hedge funds, mutual funds in general, retail and to some extent private banking.

“Anyone who is not aware of the fact that we are successful, not only because we are tax neutral, but because we attract highly qualified and specialized personnel to service our international business, is not in touch with reality. 

“There are many other neutral jurisdictions who envy the reputation and status of the Cayman Islands as one of the leading financial centres of the world. Not all the necessary personnel can presently be found within our local population. In fact, not even half of the positions needed can be filled by Caymanians.”

Ms Bodden noted how it is numerically impossible given the size of the Caymanian work force for the offshore sector to avoid recruiting outside the country and emphasised the importance of recruiting professionals regardless of their nationality.

It is of the utmost importance that we continue to attract the top professionals from around the world who have many other jurisdictions also vying for their services.

“Immigration will always be critical to the future of the ongoing success of the Islands. And whether I contribute to that process by assisting clients and giving advice, or contribute as a member of our Immigration Board, they are both, in my view, equally valuable to the ongoing issues we face,” Ms Bodden told the Association.

“My interest in Immigration began in 1990 when I was invited to become the deputy chairman of the Immigration Board. Following a two year-stint as deputy chairman, I began advising clients on immigration matters at Ian Boxall, which was my employer at that time. Through being a lawyer, I had the opportunity to see the challenges of immigration from both sides, from the aspect of the applicant, my clients, and from the inside, as a member of the Immigration Board. 

“Last year, I was able to accomplish my dream of seeing a new immigration law brought into effect by Government after chairing a two-year review of our immigration laws as well as the laws of other countries that were facing similar issues.”

Ms Bodden said timing played a huge part in her success as a lawyer and public servant. 

“Being an educated Caymanian provided a lot of opportunities in the late 1980’s. Cayman was going through a great period of growth, especially when seeking careers in law firms.”

Ms Bodden explained that her work is not just about money, it is also about serving the country. 

“My dad will tell you the same thing. When many people were making money and getting wealthy, someone needed to keep a steady hand on the till. I feel the same way. It is not the monetary reward that drives me. It is the desire to keep the Island successful for the next generation. We are lucky that we have a country that is unique and we should keep that going. It is a difficult balance to strike – to grow our population of expatriates and at the same time ensure opportunities for Caymanians. Otherwise, what are we doing this for?”

Although Ms Bodden is passionate about the country’s immigration issues and her work as a lawyer, her family also plays an extremely important part of her life as well as her friends and her local community.

“I also have a close circle of girlfriends since 18 that keep me grounded. They make sure that my self-image is very much Caymanian and down to earth. I enjoy many Caymanian activities such as fish fries, deep-sea fishing, cricket and playing dominoes. And I do very well at dominoes,” Ms Bodden added proudly.

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