Jersey based trust company, Hawksford, has acquired trust and corporate services provider, Trustcorp Jersey Limited.
The deal is said to be aimed particularly at helping Hawksford to grow its Middle Eastern business.
Hawksford was established in 2008 following a management buyout of Rathbone Trust Company Jersey Limited, backed by UK private equity company, Dunedin. Acquiring Trustcorp Jersey Limited will boost the company’s capacity and increase headcount by 30. This is something which enables Hawksford in its press release now to claim the coveted spot of "largest independent offshore trust company business", with over 150 staff, although there are many others who might dispute that claim. Nevertheless, the deal does put Hawksford firmly amongst the ranks of the trust companies who are making the most of the current period of consolidation to reinforce their market position.
Since its management buyout in October 2008, Hawksford has focused on overseas expansion. In June 2011, it opened a Dubai office and in August 2011, it acquired Swiss firm L-S&S GmbH, a boutique private wealth law firm, which was founded in Zurich by English lawyers Geoffrey Shindler, Roger Lane-Smith and Tim Urquhart.
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