- BNP Paribas Wealth Management continues to work with ZEDRA as a preferred partner for trust services
- Announcement follows series of exciting global acquisitions made by ZEDRA in the last 12 months
[UK] ZEDRA, a global specialist in Corporate and Global Expansion, Active Wealth, Pension and Corporate Incentives, as well as Fund solutions, today confirms the completion of the acquisition of BNP Paribas Jersey Trust Corporation Limited (the Company) following the receipt of regulatory approval from the Jersey Financial Services Commission on 12th August 2022.
ZEDRA has maintained and cemented a strong heritage in Jersey, one of the world’s leading international finance centres with the highest regulatory standards. Jersey represents a core jurisdiction for ZEDRA, where the firm has its largest office, consisting of more than a hundred colleagues, offering a full range of services for corporates, private clients and fund promoters. This latest deal will bring additional scale and local expertise to ZEDRA’s already fast growing Jersey office.
BNP Paribas Jersey Trust Corporation Limited has been offering high quality, personalised trustee and fiduciary services for over 30 years to its clients. The firm also has over a decade of experience providing trustee services to private equity and real estate institutional funds.
Steven Bowen, Head of Channel Islands at ZEDRA, commented: “This acquisition gives us a significant opportunity to broaden ZEDRA’s capabilities in the Channel Islands, adding to our fast-growing market position. We would like to extend a very warm welcome to our new colleagues and look forward to them being part of the ZEDRA family.”
The announcement follows a series of acquisitions completed during the last twelve months by ZEDRA including PTL, a UK leading independent pension trustee and governance services provider; Axelia Partners, a global expansion specialist in the US; BFCS, the fund and corporate services arm of Banque Internationale à Luxembourg; Atlas Fund Services, a global investment fund administrator in the US and Curaçao (pending regulatory approval); Caledonian Trustees Limited, an independent UK professional pension trustee firm; and AlleyBe, a leading Maltese corporate service provider, trustee and Virtual Financial Asset Agent.
Ivo Hemelraad, ZEDRA Chief Executive Officer, commented: “ZEDRA is enjoying a successful and incredibly exciting year so far and the firm has the capacity to continue to grow exponentially, supported by our growing team of experts. We are delighted to complete the acquisition of BNP Paribas Jersey Trust Corporation Limited, a jurisdiction which we value immensely and have seen tremendous innovation over recent years. We are looking forward to working closely with BNP Paribas as we continue to look for new opportunities to broaden our offering to current clients and tap into exciting new markets.”
In March ZEDRA also announced that it had agreed to receive a strategic minority investment from British Columbia Investment Management Corporation (pending regulatory approval), one of Canada’s largest institutional investors. The investment was made in partnership with ZEDRA’s management team, led by Executive Chairman Bart Deconinck and CEO Ivo Hemelraad, and the Company’s existing majority investor, Corsair, which remains the majority shareholder.
Today’s announcement follows ZEDRA’s acquisition of BNP Paribas Singapore Trust Corporation Limited in July 2020, now fully integrated and renamed Zedra Trustees (Singapore) Limited. The business caters to the growing Asian ultra-high net worth and high net worth markets.
BNP Paribas Wealth Management continues to work with ZEDRA as a preferred partner for trust services, while continuing to provide wealth management services to its clients, leveraging the firm’s best-in-class private banking team and global reach.
ZEDRA is a global provider of Corporate and Global Expansion, Active Wealth and Fund services as well as Pension and Corporate Incentive solutions.
The firm’s highly experienced teams deliver tailored high-quality solutions to clients who include high net worth individuals and their families seeking diversified active wealth solutions, as well as, medium to large sized companies, pension funds and trustees, asset managers and their investors.
The firm prides itself on getting to know its clients so that it can anticipate their continually evolving needs and allow them to focus on their core business and broader interests. ZEDRA’s global footprint enables it to deliver bespoke solutions that meet the local and international requirements of the increasingly demanding regulatory environment. ZEDRA inherited a wealth of knowledge and experience following its acquisition of trust businesses of a renowned bank in 2016. This solid foundation combined with innovative thinking has allowed ZEDRA to grow rapidly in a competitive marketplace to a team of over 800 industry experts across 16 countries spanning Asia, Oceania, the Americas and Europe.