Saffery Trust confirms the completion of its acquisition of Holdun Trust (Cayman) Limited (“Holdun Trust”) following the grant of regulatory approval from the Cayman Islands Monetary Authority.
The combined business will operate as Saffery Trust (Cayman) Limited.
Saffery Trust first established a Cayman offering in 2020, and the acquisition of Holdun Trust, first announced in May 2022, will build on the success, and support the growth of Saffery Trust in the region.
The acquisition sees Associate Director Fiona Pileta of Holdun Trust join the firm and will provide comprehensive stand-alone office services including fiduciary, trust and corporate services, strengthening the Cayman offering of Saffery Trust and deepening its expertise in the establishment and administration of Cayman Islands structures.
Following completion of the acquisition of Holdun Trust, Saffery Trust also announces the appointment of Andrew Needham as an Independent Director in Cayman.
Andrew brings with him more than three decades of experience working with high and ultra-high net-worth individuals and their families within both the trusts and banking industries. He will work alongside the Saffery Trust Cayman team to help build the firm’s brand in the region, with his role focusing on client relationships and Family Office structures.
Andrew is a founding member of the Cayman Islands Family Office Association and member of Society of Trust & Estate Practitioners (STEP), with previous appointments including serving as Deputy Chair of the STEP Cayman Executive.
The Saffery Trust (Cayman) Limited offering is led by Paul Tucknott, managing director of Saffery Trust in Geneva, and Lisa Vizia, director of Saffery Trust in Guernsey.
Managing Director of Saffery Trust, Nick Batiste, said:
“We are very pleased to complete our acquisition of Holdun Trust and warmly welcome Fiona to the team. The Cayman Islands is widely recognised as a top tier international financial jurisdiction, with a first-rate financial services and legal market providing both flexible solutions and the stability and surety of a robust regulatory environment. The establishment of a stand-alone local office in Cayman was an important step for us on our growth journey as we continue to enhance our services and offering in line with the needs of our international client base. We look forward to working with Fiona and our fiduciary professionals across our global offices, as we move forward together as one team. As we continue on this growth journey we are privileged to be able to draw on Andrew’s expertise, and well-earned reputation in Cayman, as an Independent Director. His experience, and values which are in full alignment with our own, will I’m sure deliver real benefit and advantage for our clients, and our business.”
