Private wealth service provider Zedra has acquired BNP Paribas Jersey Trust Corporation Limited for an undisclosed sum.
The transaction is subject to regulatory approval.
For over 30 years, BNP Paribas Jersey Trust has offered trustee and fiduciary services to its clients.
The acquisition will boost Zedra’s presence in Jersey, strengthening its offering for corporate 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.
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.
Steven Bowen, head of Channel Islands at Zedra, said: “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.”