Channel Islands law firm Carey Olsen has advised Jersey Trust Company on its acquisition of specialist wealth management firm Caversham Fiduciary Services for an undisclosed sum.
Corporate partner, Mike Jeffrey, led the team advising on the deal which will see the integration of 30 Caversham staff, including six directors, into Jersey Trust Company’s private wealth division.
“This was a significant deal in the context of the finance industry in Jersey. With the two companies integrating staff and clients together it was important that all progressed smoothly,” said Mr Jeffrey.
“Acquisitions such as this also show the strength of the fiduciary sector in the island. The presence of strong independent trust companies, and their willingness to invest in expansion and development, shows the confidence that many people have in Jersey,” he added.
Nigel Le Quesne, Jersey Trust Company’s Group Managing Director, said: “This was a significant strategic investment for JTC and it was imperative that the process be managed in both a professional and timely manner. Working with the team at Carey Olsen, we have been able to meet our timetable and achieve our objective of a controlled and efficient acquisition.”