Global wealth and fund solutions firm ZEDRA has announced its acquisition of BNP Paribas Jersey Trust.

The deal will boost ZEDRA in Jersey, boosting its offering for corporates and active wealth. In addition, it will provide BNP Paribas clients with access to more services, both in Jersey and within the wider ZEDRA group.

Furthermore, BNP Paribas Wealth Management will continue to work with ZEDRA as a preferred partner for trust services.

The transaction is subject to regulatory approval.

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.”

This follows ZEDRA’s purchase of BNP Paribas Singapore Trust Corporation in July 2020, which is now fully integrated.

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At the end of 2021, ZEDRA opened an office in Liechtenstein to enhance active wealth services to its client base as the firm expands in Europe.

The new office in Liechtenstein will strengthen ZEDRA in Europe by allowing the firm to service international clients present there and build on its service offering for European HNWIs and entrepreneurs.

In addition, the firm wants to utilise Liechtenstein’s technology, cryptocurrency and blockchain industries.

In March, British Columbia Investment Management (BCI) has agreed to make a strategic investment in the UK-based specialist fund service provider ZEDRA.

The investment will be made in partnership with Zedra’s management team and its existing investor Corsair, who will remain the majority shareholder.