The new business will trade under the name of Appleby Fund Administration (IOM) Limited from this Thursday and will operate from Appleby’s office on Athol Street in Douglas. The move will see approximately 20 staff relocate to Appleby bringing the total headcount of their Athol Street office to 140.
Sean Dowling, office managing partner of Appleby (Isle of Man) LLC said that the staff at Caledonian are “a great fit with our team”.
Sandra Georgeson, chief executive officer of Caledonian, Isle of Man, said: “With the recent growth across our four other regions and the decision to pursue new markets, the firm viewed this transaction as a well-timed opportunity to refocus our global strategic positioning.”
The acquisition is entirely Isle of Man focused and does not include any of Caledonian’s operations in the Cayman Islands, New York, Orlando or the BVI.
Appleby Trust (Isle of Man) Limited provide a range of fiduciary services to high net worth individuals, private companies, funds and global corporations.
Appleby became the largest law firm in terms of partners in March 2010, following its merger in 2009 with the Isle of Man’s Dickinson Cruickshank, and currently employs more than 800 lawyers and professional specialists.
It has offices in such key offshore jurisdictions as Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Isle of Man, Jersey, Mauritius, and the Seychelles, as well as in London, Hong Kong, Shanghai and Zurich.
To read about Appleby’s expansion of its corporate transactions capabilities in Asia, click here.
