Offshore provider of legal, fiduciary and administration services, Appleby, has acquired Caledonian Trust (IOM) and Caledonian Fund Services (Europe) as part of the group’s ongoing strategy to grow its fiduciary and administration business.
Appleby said the new business will trade under the name of Appleby Fund Administration (IOM), with effect from 7 June 2013, and will operate from Appleby’s office on Athol Street in Douglas.
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The move will lead to approximately 20 staff relocating to Appleby bringing the total headcount of their Athol Street office to 140.
Commenting on the deal, Appleby partner and group head of fiduciary and administration services, Farah Ballands, said:
"This latest development that will build on the strength and depth of our fiduciary team across multiple jurisdictions and reinforce Appleby’s position as the first choice for clients in the offshore sector."
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