Intertrust Group Holding has acquired fiduciary and corporate services business Walkers Management Services, a subsidiary of Walkers Global, for an undisclosed sum. The acquisition – which is subject to regulatory approval - creates an operation with more than 1,100 people working in 21 nations.

Walkers Management Services provides corporate, fiduciary and company secretarial services from the following financial centers: the Cayman Islands, Delaware, Dubai, Dublin, Hong Kong and the British Virgin Islands. It is headquartered in George Town, Cayman Islands.

The WMS business generates annual sales of more than $50 million.

Under the terms of the deal, Walkers said WMS management “is committed to stay with Intertrust Group post-integration”.

"Through the acquisition we gain a market leading position in the Cayman Islands, one of the most important financial centers in the world, and we further expand our global network by adding offices in Dubai, Delaware and the British Virgin Islands,” David de Buck, chief executive of Intertrust, said in a statement.