Cayman Islands: Appleby Trust and Ansbacher in Major Business Deal
The Management of Ansbacher’s Fiduciary Business Moves to Appleby
Last Updated: 19 April 2005

In the most significant business transaction for the Cayman Islands financial services industry of 2005, Appleby Trust (Cayman) Ltd and Ansbacher (Cayman) Ltd are delighted to announce that as of 1 March 2005 Appleby Trust will manage Ansbacher’s Cayman trustee and company management business.

This mutually beneficial agreement between two of Cayman’s leading financial services institutions means that Appleby Trust will add Ansbacher as a major client to its fast growing portfolio, and for Ansbacher, the agreement underscores its longstanding commitment to its clients, its employees and to the Cayman Islands. This transaction helps both Appleby and Ansbacher to be more competitive and successful in this important financial centre.

Ansbacher’s Cayman operation moves Friday 4 March 2005 to Clifton House, 75 Fort Street, the offices of Appleby Trust and Appleby Spurling Hunter.

Speaking today about the agreement, Huw Moses, Managing Partner of Appleby Spurling Hunter’s Cayman office and an Appleby Trust Director, said "there are a lot of close synergies between our two organisations in terms of our financial services offerings and our global coverage. We are confident this will result in growth for our respective businesses and at the same time ensure the continued provision of first class client service."

On behalf of Ansbacher, acting Managing Director of Ansbacher Cayman and Head of Group Legal, Michael Mayhew-Arnold said "ACL remains a wholly owned subsidiary of the Ansbacher Group with the full resources of an FSA regulated banking Group behind it. This deal gives our clients uninterrupted service and provides us with a broader range of technical and management skills in Cayman which can be brought to bear in the ongoing management of their affairs."

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