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GLOBAL NEWS AND VIEWS Company news


SUMMIT TRUST ACQUIRES SABLE OFFSHORE MAURITIUS


SUMMIT TRUST International SA has acquired Sable Off shore Management Company Ltd in Mauritius in partnership with local management. The company will be renamed Summit Trust (Mauritius) Ltd. Rod Phillips, Managing Director, and Gael Duchenne, Head of Operations, will continue to have responsibility


for the Mauritius offi ce, which has been growing solidly since it was established in 2011.


This is the fi rst acquisition


by Summit Trust International since November 2011, when the group struck a joint venture arrangement with Sanlam Ltd. Summit Trust International is


BUTTERFIELD ESTABLISHES


part of Sanlam Private Investments, the private client division within the Sanlam Group, which operates in South Africa, the UK and Australia. Daniel Martineau TEP,


Executive Chairman of Summit Trust International, said: ‘We are delighted to be able to do this deal with


CAYMAN TRUST COMPANY IN FEBRUARY, the Bank of NT Butterfi eld & Son Ltd (Butterfi eld) announced that it has established a separately incorporated trust company in the Cayman Islands – Butterfi eld Trust (Cayman) Ltd (BTCL) – through which it will continue to provide personal and corporate trust services. BTCL is a wholly owned subsidiary of Butterfi eld Bank (Cayman) Ltd (BBCL), which is itself a wholly owned subsidiary of Bermuda-based Butterfi eld. Trust and fi duciary services were previously provided in Cayman under the auspices of BBCL.


Brian Balleine TEP has been appointed as Managing Director of BTCL, heading Butterfi eld’s trust business in Cayman.


HAWKSFORD ACQUIRES


KEY TRUST JERSEY-BASED trust company Hawksford has acquired trust and corporate services provider Key Trust. The acquisition is part of Hawksford’s growth strategy, and follows recent expansion in Jersey, the Middle East and Switzerland. As part of the acquisition,


Hawksford has employed most


of the staff from Key Trust. ‘Our recent acquisition of Key Trust will ensure that Hawksford’s clients, and those of Key Trust, will have access to an even wider resource pool of experts – an opportunity we view as a great positive,’ said Hawksford’s Peter Murley.


NAUTILUS TRUST ACQUIRES NEW WORLD


Rod and Gael. It gives Summit Trust International the ideal location to pursue group opportunities in South Africa as well as providing us with a service platform in a jurisdiction that has become an increasingly important fi nancial centre for Africa, India and the rest of Asia.’


PEOPLE MOVES


■ LUKE DUGDALE has been appointed as a Director in RBC Wealth Management’s London-based UK Private Client Wealth Management team


TRUSTEES JERSEY-BASED Nautilus Trust Company Ltd has acquired New World Trustees (Jersey) Ltd. Nautilus is an independent


trust company based in Jersey. It was incorporated in 1999 and has grown from a team of two to 51 through organic growth and a series of acquisitions. The acquisition will see the company strengthen its team by 13, bringing the number of employees to 65. ‘The acquisition of New World


Trustees will give our clients, and those of New World Trustees, access to a greater pool of experts. We are focused on delivering an exceptional service through a robust and dynamic regulatory framework, and this acquisition will help us to continue doing so,’ said Jason Cowleard, Managing Director of Nautilus Trust.


NEWTON ANNOUNCES SALE OF PRIVATE


CLIENT BUSINESS NEWTON MANAGEMENT Ltd, together with Newton Investment Management Ltd, announced in February that they will be selling Newton’s private client business to Standard Life Wealth. The transaction is subject to regulatory approval, and is expected to close in the third quarter of 2013.


14 APRIL 2013


The agreement covers 7 per cent of Newton’s assets under management, valued at GBP3.6 billion and approximately 3,000 private clients. The Chief Executive Offi cer at Newton, Helena Morrissey, said: ‘The decision to sell the private client business was made after much thought and with the long-term


future interests of all clients and staff at the forefront of considerations… We believe that the interests of private client investors, including the delivery of the highest standards of client service, will be better served in future by a business where this area is a core element of the overall company strategy.’


■ Investment management specialist MATTHEW FEARGRIEVE has joined Withers LLP to establish a pan-European investment funds practice


■ ELLIOT GOODMAN TEP has joined Geneva-based trust company and family offi ce Clermont Consultants (CH) SA as Managing Director


■ PAUL LEWIS has joined Bedell Cristin as an Associate in Jersey, and RUPERT MORRIS has been appointed as an Advocate in Guernsey


■ WILLIAM MASON will be appointed as Director General of the Guernsey Financial Services Commission upon Nik van Leuven’s retirement


■ DAVID MOORE has joined Bedell Cristin as a Consultant specialising in corporate and fi nancial matters


■ MATTHEW NEWMAN, RACHAEL REYNOLDS and NICK WILLIAMS have been appointed as Partners in Ogier’s global litigation team


■ Wilsons Solicitors LLP has strengthened its practice with the appointment of new Partners JAMES RUSSELL and EMMA SWANN


■ OLIVER SELWYN has been appointed as a Director of private banking at Banque Havilland SA


■ JON SEYMOUR TEP and STEVE KIRK TEP have both been appointed as Directors of Virtus Trust Ltd


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