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Fiduciary, Trust Services Group Expands With Asia Merger
Tom Burroughes
24 March 2011
Vistra, the Jersey-headquartered trust and fiduciary services business, has merged with the Asia-based Offshore Incorporations group of firms that are involved in company formation and related services, seeking to tap expected growth in Asia for such offerings. The deal, undertaken for an undeclared sum, happened after Vistra’s main shareholder, IK Investment Partners, announced it had bought the Asian specialist business, Vistra said in a statement. The Offshore Incorporations group is made up of three specialist entities: OIL, a company formation specialist; Acceptor, a corporate services firm, and Credence Trust, a trust and fiduciary service firm. Acceptor and Credence Trust will be integrated with Vistra under the Vistra brand. OIL will continue to operate independently. The enlarged group will employ a total of 500 staff globally. “The merger will also offer an opportunity to expand our footprint in mainland China and into new selected geographies such as the Americas, Indonesia and India,” the Vistra statement said. Martin Crawford, currently CEO of the Offshore Incorporations group, will become the new chief executive of the combined business, Bart Deconic will become executive chairman of the combined group.