Suntera Global is making a key acquisition as it looks to further enhance its presence in the Channel Islands.
The acquisition of specialist fiduciary services provider, Nedgroup Trust Limited (‘Nedgroup Trust’), which is subject to regulatory approvals, will strengthen Suntera Global’s offering as well as extend its reach into an additional tier one jurisdiction in Guernsey.
Nedgroup Trust has a 70 strong team of staff across the Channel Islands, with 50 of those based in Guernsey, a new jurisdiction for Suntera, and supports a significant international client base including a substantial proportion based in South Africa.
Currently owned by Nedbank Private Wealth Limited, Nedgroup Trust provides a full suite of fiduciary services to high-net worth individuals, ultra-high-net worth individuals, family offices and owner managed businesses.
David Hudson, Group CEO of Suntera Global, added:
“This acquisition will strengthen our current service offering, enhance our Channel Islands’ capability and expand our reach to an additional jurisdiction. Nedgroup Trust combines strong operational expertise with building lasting relationships and providing a personal, flexible and tailored service – attributes that align perfectly with our own emphasis on creating a high-quality international business established on a strong platform delivering sustainable, responsible growth. I am delighted to welcome the Nedgroup Trust team and have no doubt their expertise will contribute considerably to the capabilities and growth of Suntera Global.”
Managing Director of Nedgroup Trust, Daniel Bisson, commented:
“Over more than 30 years, Nedgroup Trust has instilled its private and corporate clients with the confidence needed to support their ambitions. As a well-respected and established Channel Islands based fiduciary service provider, I am delighted to be taking this next step in our journey, which means we can offer the consistency of service our clients expect from our team, but with an enhanced offer as a result of this transaction.
We believe becoming part of the Suntera Global family will allow us to broaden and internationalise our client service offering and in doing so give our people opportunities for growth and development that are so important in today’s market.”
Stuart Cummins, Chief Executive of Nedbank Private Wealth said:
“Under the new ownership of Suntera Global, our trust company clients will have access to enhanced global structuring capabilities. Once completed, this transaction will also provide continuity of service to our clients from their existing client teams in Guernsey and Jersey, together with certainty of employment and career opportunities for our people. We have exciting plans for the Nedbank Private Wealth business as we continue to provide investment advice, wealth planning, lending and banking services to our clients, through our wealth management teams in Jersey, Isle of Man, UK and Dubai, together with our group wealth management operations in South Africa.”
The Nedgroup Trust team will add complementary expertise to Suntera Global's existing office in Jersey and the firm's wider international footprint in Cayman, the Bahamas, the Isle of Man, Luxembourg, Malta, Hong Kong and Switzerland.