Butterfield acquisition of Guernsey-based Legis Trust business completed

The Bank of N.T. Butterfield & Son Limited (‘Butterfield’) announced yesterday that it has completed the acquisition of Legis Group’s Guernsey-based trust and corporate services business.

According to a press statement, the acquisition was agreed in principle with Legis Group Holdings Limited (‘Legis Group’) in January, subject to contract discussions as well as regulatory and other approvals which have now been obtained.

Widens range

The integration of the business will further strengthen Butterfield’s ability to meet the requirements of international families for complex, high-end fiduciary structures and widens Butterfield’s range of corporate and institutional trust services.

Bob Moore, executive vice president and head of Group Trust at Butterfield said: “The acquisition of Legis Group’s Guernsey trust operation adds further scale to Butterfield’s international trustbusiness. 

Enhancement

“It will enhance the strong technical capabilities that already exist within our group’s separately incorporated trust companies in Bermuda, the Cayman Islands, Guernsey, New Zealand, Switzerland and The Bahamas by increasing our team of experienced trust professionals to build on the high quality service we offer. 

“Within our multi-jurisdictional range, Butterfield Trust (Guernsey) Limited, incorporating Legis Trust, will be one of the leading fiduciary services providers in the Channel Islands.

“We are very pleased to welcome the Legis Trust team and their clients to Butterfield.”

In completing this acquisition, Butterfield was advised by KPMG Advisory in Bermuda and Guernsey, and law firms Locke Lord and Ogier. Legis Group was advised by Babbé.