International Protector Group, an international fiduciary services provider, has opened a Swiss office to serve trust firms in the Alpine state which are looking to access the new Bahamas Executive Entity instrument.

The new office will focus principally on growing IPG's international corporate and private client network and strengthening the group's presence in Europe, the firm said in a statement.

IPG recently polled trust specialists based in Geneva and Zurich and found that 83 per cent believed the BEE could strengthen and simplify their clients’ international estate and estate planning structures. Meanwhile, well over half (61 per cent) of respondents said it was “likely” that their organisation would adopt the BEE.  As such, IPG regards the new office as a filling a “vital niche in estate planning” and said its launch was the “culmination of four years of strategic and careful planning.”  

The BEE legislation is intended to give clients greater control in the administration and security of their wealth. It is the first incorporated structure designed to be a power holder which can resolve complex governance issues in fiduciary and wealth planning structures and reduce personal liability by ensuring that any powers (e.g. voting control) are held in a legal entity.

IPG, which had $1.5 billion in assets under supervision as at end 2012, also has offices in the Bahamas and New Zealand.