Following a recent trend of
consolidation in the offshore fiduciary business, two Guernsey private-client
focused trust companies, Aquitaine Group Limited and Goethe Management Limited,
have merged under the Aquitaine brand.
The combined business has 22
employees and operates from St Peter Port.
Aquitaine’s new Chairman is
Chris Legge, a former managing partner of Ernst & Young and director for
many years of Monument Trust Company.
Guernsey’s fiduciary industry
remains highly fragmented and I would expect to see further consolidation in
the future as trust companies seek economies of scale and critical mass –
issues which are becoming increasingly important at a time when international
regulation becomes ever more complex.
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