Bahamas-based Sterling Global Financial, parent company of Sterling Trust (Cayman) Ltd., Sterling Bank & Trust (Bahamas) as well as several real estate funds, celebrated the launch of a new international branding for Cayman’s Sterling Trust on Feb. 22 at Grand Cayman Beach Suites.
Sterling acquired the trust company from Caledonian in February 2015 after the bank was put into liquidation.
The new branding encompasses the expanding Sterling Trust and a bank that will open soon in The Bahamas, the company said.
Sterling Global Financial Chairman David Kosoy said the firm’s expansion would net more business for Cayman as well as The Bahamas.
“I am humbled by the people who are here tonight, and those who serve with us on the board of directors,” said Kosoy. “In an environment that has changed from a focus on tax planning to one in which success is tied to being not only the best in service in investment management, but the best in compliance, we are honored to be in Cayman. We will be doing more business here.”
Sterling Global Financial is a real estate lending and equity fund manager with more than $9 billion under administration. In addition to Sterling Bank & Trust in the Bahamas and Sterling Trust Cayman, the Group manages three mortgage funds and one equity investment fund.
Sterling Trust Managing Director Benjamin Booker introduced the board members that the new trust company will rely on, including Peter R. Burnim, Mike Harris, Stephen Tiller, Tom Mylott, Kenue Mcphee and David Walker.
“The main reason we stress intellectual human capital is to maintain and grow your capital,” Mr. Kosoy said.
Sterling Global said it prides itself on strict compliance for what it calls its “financially sophisticated clients who have earned the right to invest with care.”