Chief Minister Donald Gelling performed the official unveiling of Fortis Intertrust’s new corporate identity in the Isle of Man. Similar ceremonies were synchronised by representative offices around the world.

Owned by the Belgian/Dutch banking and insurance giant, Fortis, the company – formerly MeesPierson Intertrust - is the world’s leading provider of corporate and trust services. Its core business is to supply international financial solutions to corporate and individual clients working in complex international, fiscal, legal and financial environments.

The group manages assets approaching 400 million euro and has an extensive network of offices in all the major onshore and offshore locations. The Isle of Man operation is playing a central role in the current £20 million expansion of the group’s global services.

£5 million new investment

The move is seeing a further £5 million investment in the Island, eventually increasing the workforce to around 200. The office is already the hub of the company’s tax and IT activities, with only the Amsterdam operation employing more staff.

The Fortis group’s enhanced profile in the Isle of Man follows a successful initiative by Managing Director, Steve McGowan, and his team to demonstrate how its increased activities could further enhance the group’s global development and growth.

Mr McGowan said the operation had grown significantly since relocating from London in 1997 and he was confident this expansion would continue: ‘We are gearing ourselves up for a very good future – prosperity is all we have known since we moved here and we intend to fly the flag for the Isle of Man as well as Fortis.’

He added that the Island’s new zero tax strategy for business and the changes to company law underscored the group’s faith in the Island to deliver the dynamic corporate environment for business to grow and flourish.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.