Admin Admin
Number of posts : 6588 Birthday : 1952-04-20 Age : 72 Reputation : 0 Points : 25947 Registration date : 2007-04-25
| Subject: ZEDRA IS LAUNCHED AS ACQUISITION OF BARCLAYS’ TRUST BUSINESS COMPLETES Tue Jan 22, 2019 8:58 pm | |
| ZEDRA IS LAUNCHED… …AS ACQUISITION OF BARCLAYS’ TRUST BUSINESS COMPLETES Regulatory approvals pave way for growth and international expansion Barclays retains minority stake, supporting future ambitions First global trust business acquired without a private equity backer in a decade London, 18 January 2016 An independent investor group, led by the Sarikhani and Nielsen families, which on 5 June 2015 agreed to acquire a majority shareholding in Barclays’ trust and fiduciary business, today announces the completion of the acquisition following regulatory approvals across all of its international jurisdictions… and unveiled its new name: ZEDRA. Barclays will retain a stake of 19.9% in the company, reflecting both its interest in the ongoing success of the business and its commitment to supporting continuing relationships with clients and the advisory community. ZEDRA is a long-established trust and fiduciary services business with a 50-year history and more than 300 people serving clients across its core locations: Jersey, Guernsey, the Isle of Man, the Cayman Islands, Singapore, the UK and Switzerland. ZEDRA has developed and grown market leading positions in these jurisdictions under Barclays’ ownership and represents many of the most affluent and influential families, investors and organisations in the world. The new management team intends to double the size of the business within five years The acquisition of the business received approval from regulators in all jurisdictions in which it operates, and its new independence provides a platform from which the services it provides to clients and advisers can be expanded in both existing and new markets. The company’s ambitious long-term growth plans also represent a break with recent trends in the sector, it being the first global trust business to be acquired without a private equity investor for almost 10 years. ZEDRA has a strong and experienced board of directors, which includes Yves Deschenaux as Chairman1 , Bart Deconinck as Group Deputy Chairman, Niels Nielsen as Group Chief Executive Officer and Ali Sarikhani as Non-Executive Director1 (see notes to editors for biographies). The acquirer brings to bear significant experience in the sector, having been at the forefront of the trust industry for more than 30 years. During that time, it has successfully invested in and contributed to the development of several companies in the sector including Vistra Group, Vestra Wealth, Intertrust, Kinetic Partners, Chiltern Group and Azure Trust, all of which have grown and developed under its leadership. Azure Trust will also be merged into ZEDR | |
|