Salamanca Group acquires Investec Trust from Investec Bank
Salamanca Group, the merchant banking and operational risk management business, has teamed with existing management to acquire Investec Trust Group from Investec Bank.
The business, which has currently over GBP4.5bn in assets under administration, will be run as a standalone trust and fiduciary business unit of Salamanca Group.
The addition of this business unit to Salamanca Group provides services to high net worth (HNW) and ultra high net worth individuals (UHNW), entrepreneurs, financial and professional intermediaries, family offices and corporate entities.
Salamanca Group Trust & Fiduciary employs around 100 people of over 20 nationalities across offices in Jersey, Switzerland, South Africa and Mauritius.
Martin Bellamy (pictured), CEO of Salamanca Group, says: “Salamanca Group’s business model is founded on the principle of putting our clients’ interests first, helping them to grow their capital, enable their businesses and protect their assets. The addition of trust and fiduciary capabilities to our client offering has been a key strategic objective for us so buying a business, which is best in peer group in each jurisdiction in which it operates, was critical.
“We already operate a range of established business units, including corporate advisory and private client services, in which we cultivate long-term, trusted relationships; this acquisition further strengthens that offering. Salamanca Group can now build on a solid foundation of assisting clients to structure, and protect their assets as well as opening up new territories and services to include wealth preservation and succession planning.”
Xavier Isaac, head of Salamanca Group Trust & Fiduciary, says: “At a time of ongoing globalisation and tax transparency becoming the norm, it is essential to extend our expertise and capabilities to accommodate our clients’ needs. However it is equally important to retain a boutique approach to the business and a very personalised and long-term perspective on building relationships. This fine balance is the essence of what the Salamanca Group transaction brings to us. It also gives us the ability to attract and retain a high calibre and passionate team, which ultimately is what makes the difference to our clients and their advisors.”
- By Category
- News from other sites
- Special Reports