Trust in the Isle of Man
In 1985 Cayman National Bank and Trust Company (Isle of Man) Limited established a presence in the Isle of Man with the incorporation of Caymanx Trust Company Limited, initially to provide trust services. With a banking licence following two years later it has grown steadily ever since and is now investing further, building its trust in the Isle of Man.
Cayman National Bank and Trust Company (Isle of Man) Limited is a fully owned subsidiary of Cayman National Corporation Limited, a publicly quoted company incorporated in the Cayman Islands. As such it forms part of an international financial services group offering a range of banking, investment, trust and fund management services to both domestic and international clients from its offices in the Cayman Islands, Isle of Man and Dubai.
As a group Cayman National is a small but full service financial institution which allows it to be both nimble and flexible. Its size also allows it to be able to provide it with the personal touch, without being burdened by bureaucracy. These critical factors have enabled it to grow its Isle of Man presence and, whilst other financial services providers have retrenched or closed their Island operations, Cayman National is investing in its local presence. Earlier this year it incorporated and capitalised a new company - Cayman National Trust Company (Isle of Man) Limited - to provide ongoing trust and corporate services to the group's clients. This allows Cayman National to build upon its growing reputation and more than 30 years' experience in providing trust services from the Isle of Man.
The new trust company is being led by Roz Melia, the current Head of Fiduciary Services for Cayman National in the Isle of Man, who has also joined its board of directors. Working with the existing fiduciary team she is keen to stress the importance of keeping client disruption to a minimum, "In establishing a new trust company we are looking to build upon our long track record of providing trust and corporate services locally", she said. "Our existing fiduciary team will continue to provide the same services to their clients and by offering this continuity we will ensure that the impact upon our clients is minimal".
Managing Director, Nigel Gautrey, reaffirmed the group's commitment to the Isle of Man. "Whilst our parent recently sold its trust company in the Cayman Islands the provision of fiduciary services forms a more material part of our Isle of Man business and is an area that the group has been happy to invest in for the future", he said. "It also forms part of a broader strategy of investment in the Island, where the ongoing consolidation of the banking sector has created great opportunities for Cayman National to play a bigger role locally".
Picture: L to R – Andrew Greaves, Riaan Liebenberg, Georgie Groves, Leeann Forster, Nigel Gautrey, Roz Melia, Claire Colquitt, Angela Crennell & Jenna Brady
Posted October 2017