Ocorian and Estera have announced that their businesses have been combined to create a global specialist in corporate and fiduciary services, fund administration and capital markets.
The merged business, which was first announced last July, will operate under the Ocorian name, with refreshed branding.
With assets under administration of $260bn, the newly formed Ocorian business offers corporate, funds and fiduciary services across 20 offices.
Locations include Bermuda, BVI, Cayman, Guernsey, Hong Kong, Ireland, Isle of Man, Jersey, Luxembourg, Malta, Mauritius, Netherlands, Singapore, UAE, the UK, as well as representative offices in the US and Africa.
According to the firm, it is now the seventh largest corporate, funds and trust player in the world by revenue. It manages more than 17,000 structures on behalf of more than 8,000 clients, including financial institutions, international organisations and high-net-worth individuals.
Farah Ballands (pictured), Chief Executive Officer of the enlarged Ocorian Group, commented: “The combination of Estera and Ocorian is extremely powerful. No matter where in the world our clients’ financial interests are structured, we will provide flexible, bespoke solutions that meet their needs as well as the needs of their stakeholders and regulators.”
Carey Olsen has advised European private equity investor Bridgepoint on the sale of Estera to Ocorian. Working alongside lead counsel Travers Smith, the law firm advised Bridgepoint on the Jersey, Bermuda, British Virgin Islands, Cayman Islands and Guernsey legal and regulatory aspects of the deal.
The Carey Olsen team was led by Corporate Partner Guy Coltman, assisted in Jersey by Senior Associate David Taylor and Associate Natasha Lyons, and in Guernsey by Associate Colin Calvert.