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News JP Morgan in New office for Jersey


Schroders acquisition JP MORGAN Worldwide Securities Services (WSS), a provider of global custody and fund services, has agreed to acquire the private equity administration services business of Schroders PLC, subject to regulatory approval. Based in Guernsey and Bermuda, the private equity administration services business currently has $6.2bn in committed capital under administration. Markus Ruetimann, Group Chief Operating Officer at Schroders says: “JP Morgan is one of our most trusted fund service partners, and we believe that this transaction will ensure the continued delivery of a high standard of service to our private equity administration clients.” JP Morgan provides private equity administration services to more than 100 clients with $225bn in alternative assets. It has offices in New York, London, Sydney, Chicago, Jersey, Luxembourg, Dallas and San Francisco.


Trust Company JERSEY TRUST Company has opened a new Luxembourg office – a move that will improve the flexibility for international structuring and increase the Group’s service offering to six jurisdictions worldwide. JTC Luxembourg will provide a full range of services across its real estate, fund and employee services, and corporate and private wealth divisions, including the formation and domiciliation of companies and investment funds and the provision of directors and accounting/ administration services. Nigel Le Quesne, Group Managing


Director, says: “We are looking forward to bringing Jersey Trust Company’s special brand of service excellence and value-added philosophy to the Grand Duchy, to provide industry-leading and genuine 24/7 service levels, where the overriding objective is to provide intelligent and cost-effective solutions for clients.”


New Barclays


Wealth service A NEW SERVICE looking after Barclays Wealth’s Intermediary clients, who have complex and specialist banking and investment requirements, is being launched in the Channel Islands. The Intermediary & Institutional Wealth Solutions team (IIWS) will look after the top 100 Intermediary clients. “Business is changing rapidly,” says


David Stanley, Barclays Wealth Director. “The days of a standardised approach have gone, and we are challenged to deliver a wider range of products and solutions. Our relationship managers demonstrate true industry expertise while continuing to provide a technologically driven, low-cost banking service”. The IIWS team will provide clients with


a range of world-class investment and banking products, allowing clients to access the full capability of Barclays Capital and Barclays Group.


Offshore Law Firm of the Year Chambers Europe Awards for Excellence 2010


Ogier has been named ‘Offshore Law Firm of the Year’ at the Chambers Europe Awards for Excellence 2010. The awards honour outstanding law firms, reflecting both pre-eminence and notable achievements over the past 12 months, including outstanding work, impressive strategic growth and excellence in client service. This leading legal publication has determined Ogier to be the leading offshore firm in Europe ahead of six other short-listed firms.


www.ogier.com


Bahrain • British Virgin Islands • Cayman Islands • Guernsey Hong Kong • Ireland • Jersey • London • Tokyo


6 businesslife.je June/July 2010


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