Ludlow Trust, a provider of specialist trust administration services for private clients and the charitable sector, said today (22 April) it had purchased C. Hoare & Co’s UK trust business.
Alongside the agreement, Ludlow Trust also entered into a new partnership with C. Hoare & Co. which, established in 1672, is the UK’s oldest privately owned bank, to provide trust administration to C. Hoare & Co. customers in future.
The statement said Ludlow Trust’s expertise in trust administration, client onboarding, back office operations and relationship management, would benefit customers of C. Hoare & Co with additional product and service opportunities and Ludlow Trust’s extensive specialist expertise.
Matthew Wickers, chief executive officer of Ludlow Trust, said: “We are delighted to welcome the staff and customers of C. Hoare & Co.’s trust business to Ludlow Trust. This relationship signifies a harmonious alignment of our organisations, both in terms of our clientele and ethos which is dedicated to client service and technical excellence. For Ludlow Trust, this is also an important development which positions us well for future growth. ”
Diana Brightmore-Armour, CEO C. Hoare & Co, said: “After careful consideration, we identified Ludlow Trust as the right organisation for our trust and estates business. Their commitment to service excellence is closely aligned with our own philosophy, and we expect a seamless transition for our customers. This decision also aligns with our focus on simplifying the Bank’s proposition, allowing us to concentrate on our core strengths as a private bank and meeting the evolving needs of our customers.”
This announcement follows Ludlow Trust’s recent acquisitions of Saffron Tax Partners and Charter Tax, which it said further enhanced its position “as a leader in the trust advisory sector”.
Additionally, Ludlow Trust highlighted it was “pioneering its charity gateway service, featuring an innovative donor and charity matching system, underscoring its commitment to serving the important charitable community”.
