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Wealth Manager Buys Guernsey-Based Trust Service Provider

Robbie Lawther

10 May 2017

Wealth management firm Equiom has acquired Virtus Trust Group, a Guernsey-based trust service provider, as the firm looks to expand its services globally.

Virtus has an international client base with operations in Cayman Islands, New Zealand, UK and the US, where it has a US public trustee licence in the state of South Dakota, it said in a statement yesterday.

Twenty-five staff members from Virtus will join the Equiom team, operating from the Guernsey office and the company will complete the process of rebranding by June 2017.

“The acquisition of Virtus is a fantastic addition to Equiom. In addition to increasing our foothold in Guernsey, we will now be able to deliver structures for our clients in three brand new jurisdictions: Cayman, New Zealand and the US,” said Sheila Dean, global chief executive at Equiom.