Salamanca Group has completed the acquisition of Investec Trust Group from Investec Bank after obtaining the necessary regulatory approvals.
The business currently has over £4.5 billion in assets under administration and will be run as a stand-alone Trust & Fiduciary business unit of Salamanca Group.
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Salamanca Group said that the addition of this business provides the group a unique combination of quality and value added services to high-net-worth (HNW) and ultra-high-net-worth individuals (UHNW), entrepreneurs, financial and professional intermediaries, family offices and corporate entities.
Employing around 100 people of over 20 nationalities across offices in Jersey, Switzerland, South Africa and Mauritius, Salamanca Group Trust & Fiduciary is a business with global reach.
Martin Bellamy, CEO of Salamanca Group said: "The addition of Trust and Fiduciary capabilities to our client offering has been a key strategic objective for us so buying a business, which is best in peer group in each jurisdiction in which it operates, was critical."
"Salamanca Group can now build on a solid foundation of assisting clients to structure, and protect their assets as well as opening up new territories and services to include wealth preservation and succession planning," he added.
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