Jersey-headquartered Highvern has expanded into the Cayman Islands with the acquisition of Genesis Trust & Corporate Services for an undisclosed sum.
Genesis is led by director Paul Drake and chief executive Roger Priaulx, who will remain with the business. Priaulx has also joined Highvern’s executive committee.
The deal will complement Highvern’s private wealth, funds and corporate services offerings.
Martin Hall, Highvern chief executive, said: “We are delighted to welcome all our new colleagues in Cayman with whom we have already developed a close working relationship; we are looking forward to supporting them with growing the business in Cayman and making it a fully integrated part of the Highvern group.”
Naomi Rive, group head of private wealth at Highvern, said: “The professional team at Genesis has a very strong reputation and we’re excited to leverage the potential from bringing our two businesses together, hiring elsewhere too, and creating one of the strongest private wealth teams across the locations in which we operate.”
The deal comes months after Highvern acquired Guernsey- and Switzerland-based Noble Trust Company for an undisclosed sum.