Bridgepoint Purchases Appleby Fiduciary Business
by Jason Gorringe, Lowtax.net, London
05 January, 2016
Appleby Fiduciary Business (AFB) confirmed on January 5 that the management buyout from the Appleby Group by private equity firm Bridgepoint completed on December 31.
Following the deal's completion, AFB is an independent business, separated from Appleby, a leading international offshore law firm.
William Paul, a Partner and head of financial services at Bridgepoint, said: "AFB is an exciting platform with a reputation for high quality, client-centric services, and the expertise to deal with the complex needs of its clients. The buyout brings significant opportunity for AFB as a standalone business to accelerate its growth organically and via acquisition, in what remains a strongly growing market."
Appleby's Chairman, Frances Woo, commented that: "Being able to respond to client needs by investing in the development of products and services for each business is a key part of our thinking here, coupled with providing essential continuity of service. With the existing management team taking the helm of the new fiduciary company, this will ensure that existing clients feel it is very much business as usual."
AFB has provided offshore management and administration services to high-net-worth individuals, private companies, funds, and global corporations for over 25 years. It operates in nine offshore jurisdictions: Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, the Isle of Man, Jersey, Mauritius, and the Seychelles.
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