The acquisition expands Ocorian’s service capabilities, increasing its client base and the scope of service offering to include international maritime structuring.
In turn, Capco’s clients will benefit from an enhanced range of specialist financial services across a much wider range of international jurisdictions.
In addition to Jersey, Ocorian currently has offices in Cayman, Dublin, Guernsey, London, Luxembourg, Mauritius, New York and Singapore.
All 29 staff from Capco will join Ocorian’s 350+ strong international team to support and grow the strong client relationships that are at the core of this acquisition, the firms said in a statement.
Nick Cawley, chief executive of Ocorian, commented: “This transaction reflects the sustained expansion and diversification of Ocorian’s newly defined business and our commitment to growth in leading jurisdictions.
“It will further strengthen our position as a leading global financial services provider and complement our existing private client and corporate services business with additional expertise and capability in international maritime structuring.”
David Capps, group chair of Capco Trust added: “Our ambition for this transaction was to find a good home for our staff in the form of a partner that would sustain and strengthen the development of our private client and niche corporate services businesses, to the benefit of our clients – who will now be able to access a greater array of specialist financial services across a wider range of international jurisdictions.”
Expected to close before the end of January 2018, the transaction will “realise the next stage of a progressive trajectory” for Ocorian, following its management buyout and successful rebrand of Bedell Trust in 2016. Earlier this month Ocorian completed its acquisition of MAS.
Financial terms of the Capco transaction were not disclosed.
