Bermuda-based Butterfield Bank has completed the acquisition of Legis Group’s Guernsey-based trust and corporate services business.
The deal, which was initially announced in January, has received all necessary regulatory and other approvals.
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The acquisition will further boost Butterfield’s ability to meet the requirements of international families for complex, high-end fiduciary structures.
In addition, the deal is also expected to expand Butterfield’s range of corporate and institutional trust services.
Bob Moore, executive vice president & head of group trust at Butterfield, said: "The acquisition of Legis Group’s Guernsey trust operation adds further scale to Butterfield’s international trust business.
"It will enhance the strong technical capabilities that already exist within our Group’s separately incorporated Trust companies in Bermuda, the Cayman Islands, Guernsey, New Zealand, Switzerland and The Bahamas by increasing our team of experienced trust professionals to build on the high quality service we offer," he added.
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By GlobalDataButterfield said they were advised by KPMG Advisory in Bermuda and Guernsey, and law firms Locke Lord and Ogier, while Legis Group was advised by Babbé.
