Ocorian has announced that Farah Ballands is stepping down as CEO, with Frederik van Tuyll taking over the position in addition to his role as Chairman.
Farah has served as CEO of Ocorian since February 2020, having overseen its merger with Estera, which she led from January 2016.
Prior to that, she was a Partner within Appleby's Jersey office from 2003 until 2015, leading the global fiduciary practice that eventually became Estera.
She commented: “I have thoroughly enjoyed leading the business through the acquisition and merger with Estera. However, one year on, the time is right for me to hand over the reins.”
Frederik, who takes on the CEO role from 31 March, became Chairman of Ocorian in 2019. His career has included 10 years with TMF Group, latterly as CEO, as well as six with Equity Trust and five with Pierson, Heldring & Pierson in Hong Kong.
Frederik said: “We want to ensure continuity for our clients and employees, so it makes sense for me to combine the responsibilities of Chairman and CEO.
“Farah has achieved a remarkable amount, first for Estera and most recently for Ocorian. Under her stewardship, we are operating more collaboratively. Her agility, hard work and effort has built a solid foundation for our business. I am extremely grateful to her and, given the personally challenging year she and her family have had, I fully understand her decision.”