Crestbridge Corporate Holdings Limited has announced that it has entered into a transaction that will see its Cayman Islands operations spun out and rebranded as a new independent business.
The company, in a press release, said the rebrand is anticipated to be completed by the end of September, pending standard regulatory approvals.
The Cayman-based operation, which was founded in 2015, provides support to global banks, investment managers, financial institutions, and family offices through the provision of fiduciary, administrative, accounting, and compliance services.
The business will remain supported by the same shareholders who built the Crestbridge Group from its inception in 1998, the company stated.
Dean Hodcroft, CEO of Crestbridge, said, “The leadership team in Cayman has established a clear plan for its future as an independent business with deep knowledge of its key markets and core client base. I am sure Jon, George and the team will thrive and continue to deliver excellent client service and we all wish them every success for the future.”
Managing director of the Cayman Islands operation, Jonathan Bain, said, “We are thrilled about the future of our business as a well-supported, independent privately owned business. Our team is excited to continue on our journey and are working hard to ensure that stakeholders continue to receive the same consistent and dedicated service that they have come to know from us.”
The business will continue to be led by Bain and George Bashforth.
As part of its expansionary plans, the newly branded business intends to open two new offices in the Americas in the short term.
The terms of the transaction remain undisclosed.
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