Zedra, a specialist in corporate services and fund solutions, has acquired BNP Paribas Jersey Trust Corporation in the second acquisition from the company within the past two years.
BNP Paribas, which offers personalised trustee and fiduciary services to its clients, sold BNP Paribas Singapore Trust Corporation Limited to Zedra in July 2020 and is now fully integrated as Zedra Trustees (Singapore) Limited.
Jersey represents a core jurisdiction for Zedra, and is the location for its largest office, consisting of more than 90 employees.
The transaction, which is subject to regulatory approval, seeks to further raise the profile of Zedra within Jersey and strengthen its offering for corporates and active wealth. It will also provide BNP Paribas clients with access to a greater range of services, both in Jersey and elsewhere within the Zedra Group.
BNP Paribas Wealth Management will continue working with Zedra as a preferred partner for trust services, while continuing to provide wealth management services to its clients, using the firm’s private banking team and global reach.
Steven Bowen, head of Channel Islands at Zedra, said: “This acquisition will give us a significant opportunity to broaden Zedra’s capabilities and expertise in the Channel Islands, adding to our fast-growing market position. BNP Paribas Jersey Trust Corporation Limited has a first-class staff base, which we look forward to welcoming into Zedra.”
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