Harneys acquires Midocean Management and Trust Services15/01/2018
Harneys is pleased to announce it has acquired Midocean Management and Trust Services (BVI) Limited from Maitland.
The transaction, which closed on Friday, 12 January and has been approved by the BVI Financial Services Commission, transfers Midocean’s BVI registered office and agent business to Harneys Fiduciary. All five of Midocean’s BVI staff members, including Senior Officers Lynelle Gumbs and Renard Estridge, have joined Harneys. The terms of the transaction are undisclosed.
Global Head of Harneys Fiduciary Ross Munro stated: “We are delighted to have concluded this transaction and, as Maitland’s preferred BVI service provider, we look forward to providing Midocean’s BVI clients with the reliable, responsive and high-quality service for which Harneys and Maitland are both well known.”
Munro continued: “This transaction is evidence not only of Harneys’ ongoing commitment to investment in the British Virgin Islands, but also of our intention to identify and participate in future consolidation in our sector.”
Maitland is a global advisory, administration and family office established in Luxembourg in 1976. Midocean opened its doors in the BVI in 1986.
Harneys Fiduciary is an independent provider of specialised corporate, trust and fiduciary services. Founded in 1974 and operating from 12 locations around the world, Harneys Fiduciary is closely associated with Harneys’ law firm. Together they have over 475 employees globally.