ITA Cayman Holdings is to acquire Standard Chartered Trust (Cayman), along with the firm’s clients from Latin America.

Until the move is granted regulatory approval, ITA and SCTC will “carry on business as usual,” whilst the non-Latin America clients of SCTC are transferred to their fiduciary entities in Singapore or Guernsey.

Through its fiduciary arm, ITA Global Trust Company, the ITA Group provides trustee and corporate management and administration services to high net worth clients, private trust companies, investment funds and privately-held companies. The firm also has a presence in New Zealand.

“A major focus of business for the ITA Group is Latin America and this acquisition further builds the business presence in that region,” the firm said. 

It is anticipated that the business of ITA Global Trust Company will transfer into SCTC.