Strategy
Fiduciary Business Completes Buyout, Splits From Appleby
There is a new, independent player in the world of fiduciary services in the offshore market.
Appleby Fiduciary Business has confirmed that the management
buyout from the Appleby Group by private equity firm Bridgepoint
has been completed, so AFB and the Appleby law firm are now two
independent businesses.
AFB said it expects to launch its new fiduciary brand in the
first quarter of this year.
Farah Ballands, who will lead the AFB team as chief executive,
said AFB has grown to have more than 350 staff located across
nine offshore jurisdictions.
“The [AFB] team is also busy working on a number of strategic
initiatives that we look forward to communicating over the next
few weeks, including the appointment of our new chairman. This is
the beginning of an exciting journey for us as an independent
fiduciary business,” said Ballands.
Advisors involved in this transaction included
PricewaterhouseCoopers, Macfarlanes and Kinetic (for Appleby);
KPMG/ Wyvern Partners; Stikeman Elliott; Intuitus; Marsh and
Travers Smith, for Bridgepoint, and Liberty Corporate Finance,
PwC and Dickson Minto, for management.
