Ludlow Trust has acquired the NatWest Group and Coutts UK trust business for an undisclosed sum.
The firm is backed by the Wickers and Sarikhani families, with three former senior Barclays executives on the board. The management team comprises directors who previously worked at Vistra, Zedra, the Chiltern Group and the Intertrust Group.
Ludlow Trust has been granted “trusted partner” status and will have non-exclusive access to NatWest Group clients to help grow future business.
The company will continue to operate from its bases in London and Bristol, with all staff being retained, while, at the same time, “substantial new capital will be injected” to deliver administration systems and offices.
The owners are “planning an ambitious expansion strategy to create, in the long term, a new, independent, international trust group”.
In the UK, the team will work closely with NatWest Group, together with intermediaries across the legal, accounting and wealth management sectors.
Expand into international market
Matthew Wickers, chief executive of Ludlow Trust, said: “The launch of Ludlow Trust will deliver a vibrant new player in the market, one offering a unique combination of innovative flair and fleet-footedness, supported by the heritage and reputation of the two underlying businesses.
“Our best-in-class systems and processes, plus the experience and pedigree of our staff, will combine to give us a powerful and unique platform for growth.
“Longer term, we are planning to expand into the international market, to offer trust and related services to clients globally.
“Today, the trust industry offers substantial potential for a well-run business. However, challenges exist, and we are well aware of these. An increasingly complex regulatory and compliance landscape demands expertise, attention to detail and deep resources to ensure that clients’ interests are best served, and regulatory requirements met.
“Our leadership team is well placed to provide the experience and industry expertise that will guide our ambitious growth plans. Meanwhile, the wider team will ensure all-important continuity for both clients and intermediaries, as we move forward.”
