Zedra picks up Barclays UK trust operation

Added 6th October 2016

Trust and corporate services provider Zedra has agreed a deal to acquire Barclays UK trust business for an undisclosed sum.

Zedra picks up Barclays UK trust operation

In a statement on Thursday, the company said the acquisition will increase Zedra’s size by around 25%, while opening up new business opportunities for the group in the UK.

The terms of the deal are subject to regulatory approval and Barclays will continue to hold a minority stake in the newly expanded entity.

“The move adds to our UK capabilities and other services we already provide,” said Niels Nielsen, Zedra’s chief executive.  “This development marks another step in our growth plan offering clients a balanced and global geographic reach.”

Acquisition spree  

Zedra has been on an acquisition spree this year, since was acquired from Barclays in January by an independent investor group. In July it bought the Dutch-based Allied Corporate Services in July to build up its position inside the European Union.

This latest deal means that less than nine months after its launch, the business now operates from 10 offices worldwide, including Jersey, Guernsey, the Isle of Man, the Cayman Islands, New Zealand, Hong Kong, Netherlands, Singapore, the UK and Switzerland, and has a headcount of over 400 staff.

Akshaya Bhargava, chief executive of Barclays wealth, entrepreneurs and business banking said: “Following the sale of the Barclays offshore trust and fiduciary business in January, Barclays already holds a minority stake in ZEDRA which demonstrates Barclays’ interest in the ongoing success of this business and its commitment to supporting continuing relationships with clients and the advisory community.”

“The business offers a professional trustee and executor service in connection with wealth and succession planning. Existing clients of the business will continue to be looked after by the current staff operating out of their existing offices, ensuring minimal disruption to day to day activity,” he said.

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address


Regulatory landscape changes in the Middle East

Sponsored by Old Mutual International

Regulatory landscape changes in the Middle East...

Brendan Dolan, Regional Director, Middle East and Africa for Old Mutual International, talks about how the group is working with advisers as the regulatory landscape...

Square Mile Research

Matthews Pacific Tiger Fund
Matthews Pacific Tiger Fund...

Talking Factsheets is a video service for users...

About Author

Richard Hubbard

Group Editor

Richard Hubbard is the group editor at Last Word. He is responsible for the editorial content of International Adviser, Portfolio Adviser, Expert Investor and Fund Selector Asia. Richard previously worked for Thomson Reuters and has covered the financial services industry and investment themes from its offices in London, Singapore, Hong Kong and New York. Richard started his career at the Australian Financial Review in Sydney.


The turning tide of global equities

The turning tide of global equities

Despite a gloomy beginning to the year, global equities have started to outshine the backdrop of economic malaise that threatened their upward trajectory, with the index delivering 19.2%




Ashburton International
Ashburton International

Ashburton Investments is a new generation investment...



Offshore Bond Workshop Glasgow 2016
Offshore Bond Workshop Glasgow 2016

22nd November 2016
The Grand Central Hotel, Glasgow

Future Advisory Forum Dubai 2016
Future Advisory Forum Dubai 2016

23rd November 2016
Shangri-La Hotel, Dubai 

Sponsored Content

Investment Strategy