This latest acquisition will strengthen ZEDRA's wealth, corporate and fund services offering in the Channel Islands.
ZEDRA, the corporate services, wealth and fund services group, has bought BNP Paribas Jersey Trust Corporation.
Jersey represents a core jurisdiction for ZEDRA, where the firm has established its largest office, with more than 90 staff. The acquisition will provide a further boost to ZEDRA’s presence in Jersey, strengthening its offering for corporates and active wealth. It will also provide BNP Paribas clients with access to a greater range of services, both in Jersey and elsewhere within the ZEDRA Group.
The announcement follows ZEDRA’s acquisition of BNP Paribas Singapore Trust Corporation in July 2020, now fully integrated and renamed Zedra Trustees (Singapore). The business caters to the growing Asian ultra-high net worth and high net worth markets, with the majority of clientele consisting of families and entrepreneurs.
Following the transaction, which is subject to regulatory approval, BNP Paribas Wealth Management will continue working with ZEDRA as a preferred partner for trust services, while continuing to provide wealth management services to its clients.
In a statement, ZEDRA said that BNP Paribas WM has been offering
high quality, personalised trustee and fiduciary services to its
clients for more than 30 years. The firm also has over a decade
of experience providing trustee services to private equity and
real estate institutional funds, ZEDRA said.
“This acquisition will give us a significant opportunity to broaden ZEDRA’s capabilities and expertise in the Channel Islands, adding to our fast-growing market position. BNP Paribas Jersey Trust Corporation Limited has a first-class staff base, which we look forward to welcoming into ZEDRA,” Steven Bowen, head of Channel Islands at ZEDRA, said.