z-kolkiemz-kolkiem

Announcement: Nedgroup Trust Channel Islands

Nedbank Private Wealth has signed an agreement, to sell its Channel Islands trust business, Nedgroup Trust, to Suntera Global, an independent global provider of fund, corporate and private wealth services.
Published 17 January
2 min

Nedbank Private Wealth has signed an agreement, to sell its Channel Islands trust businesses, Nedgroup Trust Limited (Guernsey) and Nedgroup Trust (Jersey) Limited to Suntera Global, an independent global provider of fund, corporate and private wealth services.

Nedgroup Trust has a 70-strong team of staff and supports a significant international client base including a substantial proportion based in South Africa. This transaction will strengthen Suntera Global’s offering as well as extend its reach into an additional tier one jurisdiction.

Suntera Global is an independent global provider of fund, corporate, and private wealth services. The Suntera Group has over 300 specialists supporting a global client base from offices in the Bahamas, the Cayman Islands, Hong Kong, the Isle of Man, Jersey, Luxembourg, Malta and Switzerland.

Stuart Cummins, Chief Executive of Nedbank Private Wealth said: “Under the new ownership of Suntera Global, our trust company clients will have access to enhanced global structuring capabilities. Once completed, this transaction will also provide continuity of service to our clients from their existing client teams in Guernsey and Jersey, together with certainty of employment and career opportunities for our people.”

“Nedbank Private Wealth remains committed to the Channel Islands, with our wealth management team in Jersey providing investment management, wealth planning, lending and banking services to private clients and the fiduciary services sector. This is in addition to our teams in the Isle of Man, the UK and Dubai, together with our group wealth management operations in South Africa.“

Managing Director of Nedgroup Trust, Daniel Bisson, commented: “Over more than 30 years, Nedgroup Trust has instilled its private and corporate clients with the confidence needed to support their ambitions. As a well-respected and established Channel Islands based fiduciary service provider, we believe becoming part of the Suntera Global family will allow us to broaden and internationalise our client service offering and in doing so give our people opportunities for growth and development that are so important in today’s market.”

David Hudson, Group CEO of Suntera Global, added: “This acquisition will strengthen our current service offering, enhance our Channel Islands’ capability and expand our reach to an additional jurisdiction. Nedgroup Trust combines strong operational expertise with building lasting relationships and providing a personal, flexible and tailored service – attributes that align perfectly with our own emphasis on creating a high-quality international business established on a strong platform delivering sustainable, responsible growth. I am delighted that we will be shortly welcoming the Nedgroup Trust team and have no doubt their expertise will contribute considerably to the capabilities and growth of Suntera Global.”

This transaction relates solely to the ownership of the fiduciary operations in Jersey and Guernsey. Nedgroup Trust in South Africa is unaffected. The sale is expected to have an immaterial impact on the Nedbank Group’s financial performance.

Access more of our insights

The 18th issue of our client magazine is out now

28 Nov

   |   <20 mins

The latest issue of Opportunity focuses on the benefits of wealth planning, the future for purposeful investing, and how to get the most out of foreign exchange, plus all our recent company news.

Named best boutique private bank for a fourth year running in Middle East honours

24 Nov

   |   1 mins

We’ve been named Best Boutique Private Bank for a FOURTH year running at the 2022 WealthBriefing MENA Awards for Excellence, and also picked up the award for Best Private Bank – Overall Client Service.

Investing

Investment seminar

18 Nov

   |   50¾ mins

In this investment seminar, we reflected on the market stimuli in 2022, as well as the positioning of our investment outlook for 2023 and the opportunities which may arise.

July 2022 COVID-19 business update

27 Jul

   |   1 min

This is the latest update on how we as a business are operating during the coronavirus pandemic. We hope that you and your families are well.

Get in touch

If you are interested in becoming a client, please complete the form via the ‘become a client’ button below. Alternatively, if you are already a client, or if you have a question about how we help clients in particular circumstances, please use the ‘contact us’ button.


We will get back to you as soon as we can during office hours, which are Monday to Friday, 8am to 8pm (UK time), except for UK public holidays.

Become a Client

Thank you for your interest in Nedbank Private Wealth. Please call us on +44 (0)1624 645000 or complete the requested information and one of our team will get back to you soon. We look forward to speaking with you.  Please note: If you are an EU resident, we are unfortunately unable to offer our services to you at present.

* Required fields

Contact Us

Please call us today on +44 (0)1624 645000. Our office hours are weekdays from 8am to 8pm (UK time), except for UK public holidays.

 

Or please complete and submit the below form and one of the team will get back to you as requested.

* Required fields

Search suggestions