Ludlow Trust company has concluded the acquisition of the NatWest Group and Coutts UK trust business, which will now be relaunched under the Ludlow Trust banner.
Ludlow Trust is an independent trust company, backed by the Wickers and Sarikhani families, with three former senior Barclays executives on the board. The directors have been central to the creation and management of similar successful groups such as Vistra, ZEDRA, the Chiltern Group and the Intertrust Group.
Ludlow Trust has been granted ‘trusted partner’ status and will have non-exclusive access to NatWest Group clients to help grow future business. The company will continue to operate from its twin bases in London and Bristol, with all staff being retained, whilst at the same time substantial new capital will be injected to deliver best in class administration systems and offices.
The owners are planning an ambitious expansion strategy to create, in the long term, a new, independent, international trust group. In the UK, the team will work closely with NatWest Group, together with trusted intermediaries across the legal, accounting and wealth management sectors to deliver growth.
Genuinely independent trust groups have been rare in an industry dominated by private equity and institutional ownership. Ludlow Trust’s independence will provide an innovative and fresh platform from which it will be able to service clients and advisers, allowing it to flourish and expand in both existing and new markets. cThe company’s ambitious long-term growth plans sit comfortably in a sector which has recently seen significant consolidation and growth, both domestically and in new overseas markets.
Matthew Wickers (shown in main picture), Chief Executive Officer, told Channel Eye, “The launch of Ludlow Trust will deliver a vibrant new player in the market, one offering a unique combination of innovative flair and fleet-footedness, supported by the heritage and reputation of the two underlying businesses. Our best in class systems and processes, plus the experience and pedigree of our staff, will combine to give us a powerful and unique platform for growth. “Longer term, we are planning to expand into the international market, to offer trust and related services to clients globally”
A NatWest Group spokesperson commented, “As part of NatWest Group’s new strategy, simplification of the bank’s portfolio is a priority and we can confirm the transfer of the bank’s Trust Administration Business to Ludlow Trust Company. We look forward to continuing our strong relationship with Ludlow and are delighted to be working alongside them, and other trust companies, to ensure the future trust needs of our clients.”
