Bermuda-based Clarien Group has launched Clarien Bank, a privately held financial institution.

Clarien Bank, formerly known as Capital G Bank, will continue the group’s expansion into areas such as M&A advisory as well as developing and distributing new investment products.

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Clarien Bank will be led by Zoran Flotak and Ian Truran as co-CEOs. Fotak has held senior positions within Credit Suisse, Merrill Lynch and RBC while Truran is a Bermudan with experience in the industry and formerly of Butterfield Bank.

Fotak said: "Our ambition for Clarien Bank is to develop a world-class financial institution with an international footprint that allows us to bring the strengths of Bermuds to a global client base. As confidence levels in capital markets continue to increase, on the back of a global economic recovery, we are well positioned to execute international transactions with more efficiency in a secure jurisdiction."

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