People Moves
Who's Moving Where In Wealth Management? - ZEDRA
The latest moves in wealth management across Europe and the Middle East.
ZEDRA
ZEDRA, a trust,
corporate and fund services firm, has appointed Stuart McLuckie
as its new UK onshore managing director. He will work in the
firm's UK office in Cheshire.
McLuckie, who has worked in Switzerland, specialises in trusts
and succession planning, and has been in the sector for just
under 20 years.
Corsair
Capital, a US-based private equity firm, recently bought a
majority stake in ZEDRA. There have been a number of merger and
acquisition (and later rebranding) deals affecting the world’s
trusts sector, sometimes involving private equity firms (a fact
that not all practitioners are comfortable with).
Some banks, such as Investec, ABN AMRO and Barclays have spun off
trusts and associated businesses. ZEDRA bought the Barclays UK
trusts business and completed that deal in April 2016. In
December 2017 investor services firm SGG Group (now called IQ-EQ)
bought Jersey-based First Names Group from AnaCap Financial
Services, the private equity organisation. Among other deals, in
2014, Butterfield Group, part of Bermuda-based Butterfield,
completed its acquisition of Guernsey-based Legis Group, taking
on its trusts and corporate services business.
