Intertrust Group Holding SA has acquired Close Brothers (Cayman) Limited and Close Bank (Cayman) Limited (together Close Brothers Cayman). The acquisition is subject to regulatory approval and is expected to complete in the coming months.
Close Brothers Cayman is a leading financial services provider in the Cayman Islands, with 60+ staff offering a comprehensive range of services including corporate services, fiduciary services, fund administration, private client, banking and asset management services. The company has a long and distinguished history in the Cayman Islands, having provided financial services for over 40 years.
Intertrust, formerly part of the Fortis Group and now owned by Dutch private equity firm Waterland, is a trust and corporate services sector specialist, providing a broad range of commercial, legal, tax and administrative services to companies and high net worth individuals. Operating with 950 people from 28 offices in 19 countries, Intertrust combines a global reach with the local knowledge and cultural understanding to serve international clients from every corner of the world.
Linburgh Martin, Managing Director of Close Brothers Cayman, says: ’We are extremely pleased with Intertrust as our new shareholder. Intertrust has an entrepreneurial approach which mirrors the culture within Close Brothers Cayman. The international cooperation of the Intertrust group will assist us in capturing new opportunities for our clients and employees. The change of shareholder is an important step for our business going forward. These changes will support Close Brothers Cayman to further strengthen its strong position in the financial services sector and to capture new opportunities’.
David de Buck, CEO of Intertrust, says: ‘The Cayman Islands continue to be a leading jurisdiction for the global fund industry. Close Brothers Cayman has achieved an excellent position in this market with a long-standing track record of delivering consistent, high quality and reliable services for over 40 years. We intend to support Close Brothers Cayman in strengthening this position, and through this acquisition, we extend our global footprint in an important global financial center, offering new opportunities for our clients and employees. We look forward to working together with Close Brothers Cayman employees and welcome them to our global family’.
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