Zedra has announced the acquisition of BNP Paribas Jersey Trust Corporation Limited (BNPP). The transaction is subject to regulatory approval.
For over 30 years, BNPP has been offering personalised trustee and fiduciary services to its clients. The firm also has over a decade of experience providing trustee services to private equity and real estate institutional funds.
Zedra has a strong heritage in Jersey, one of the world’s leading international finance centres with the highest regulatory standards. Jersey represents a core jurisdiction for Zedra, where the firm has established its largest office, consisting of 90+ colleagues, offering a full range of services for corporates, active wealth and both regulated and private funds.
The acquisition will further boost Zedra’s presence in Jersey, strengthening 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.
The announcement follows Zedra’s acquisition of BNP Paribas Singapore Trust Corporation Limited in July 2020, now fully integrated and renamed Zedra Trustees (Singapore) Limited. The business caters to the growing Asian ultra-high net worth and high net worth markets, with the majority of clientele consisting of families and entrepreneurs.
Steven Bowen, Head of Channel Islands at Zedra, commented: “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”.
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, leveraging the firm’s private banking team and global reach.