16 July 2015

Notification of the Management Buyout of Appleby’s Fiduciary Business

As a valued client of the Appleby Group, I am writing to let you know that we have agreed to a private equity-backed management buyout of our fiduciary business, which includes our Corporate Administration, Trust Administration and Fund Services businesses. This is an exciting development for our fiduciary business whereby it will become an independent entity, owned and managed by its management team. The team will be backed by a new shareholder, Bridgepoint, a leading pan-European private equity investor which has a broad portfolio of successful companies across a range of industries, including many in the business and financial sectors.

Both the management team and Bridgepoint are committed to ensuring the future success of the business, providing it with the resources and capital to extend the services we can offer to our clients. High levels of client service will remain at the heart of what we do and you will see no change in the service levels that we offer to you. Your relationship team will remain the same and will transfer to the new entity post completion and we are remaining at the same address in each of our locations.

The fiduciary business will also maintain a close and productive working relationship with the Appleby Law Firm, maintaining the benefits to our clients of the joined up approach enjoyed to date. So rest assured it is “business as usual” as far as your business with us is concerned. However, should you have any questions or concerns, please do not hesitate to get in touch with any member of your relationship team.

The deal will be subject to regulatory and legal approvals. Once these have been received, we will be launching a new brand name, reflecting our newly independent status. We will contact you in due course to provide further information on this.

We are genuinely excited by the opportunities this will bring in terms of the services and products we can offer to our clients and we look forward to continuing our relationship with you.

Farah Ballands
Partner | Global Practice Group Head | Fiduciary

No comments: