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Appleby To Undertake Merger With Leading IOM Law Firm,
by Jason Gorringe, Tax-News.com, London
Wednesday, June 24, 2009
Leading global offshore legal, fiduciary and administration service provider Appleby,
has today announced a dramatic expansion of its international reach, merging with
Dickinson Cruickshank, the largest law firm in the Isle of Man.
The firm will continue to be known as Appleby and the merger is to be effective,
once all conditions are met, on October 1, 2009. Appleby is the first global
offshore law firm on the island and the move will see Appleby emerge as the
offshore law firm with the widest jurisdictional reach, and become the largest
offshore law firm by number of partners, according to the company. The firm will now have 73 partners
and 200 lawyers, and a total of over 800 staff in 9 offices worldwide, including
Bermuda, the British Virgin Islands, the Cayman Islands, Jersey, Mauritius,
Hong Kong, London, Zurich and the Isle of Man.
Dickinson Cruickshank is the largest and one of the longest established firms
of advocates on the Isle of Man. Founded in 1899, it is now one of the two dominant
law firms on the island with 11 partners, 27 other lawyers, 17 fiduciary service
providers and a total staff of 119. It is a full service firm practicing Isle
of Man law with a specific focus on corporate and commercial, private client,
dispute resolution, property and fiduciary services. The firm is consistently
in the top ranking in the major international legal directories and has twice
been nominated as “Offshore law firm of the Year”.
Commenting on the merger, Paul Morris, Dickinson Cruickshank’s Senior
Partner said: “We believe that the merger with Appleby, as a global offshore
services provider, is not only a first on the island and an invaluable resource
for our clients, but it will also provide a huge boost to the Isle of Man’s
capabilities, status and reputation in the international offshore sector. Appleby’s
global reach in the key offshore jurisdictions, its recent expansion through
Mauritius into the emerging markets in India, Africa and Asia, and its market
leading position in international financial centres, will have a significant
impact on the breadth, range and choice of services we are able to offer to
our Isle of Man and international clients.”
Peter Bubenzer, Appleby’s Global Group Managing Partner added: “The
opportunity to merge with a firm of the size and quality of Dickinson Cruickshank
was compelling for us. The firm’s focus on their clients’ needs
and, as the offshore sector evolves, their recognition of the value to clients
of truly global resources, as well as a choice of jurisdictions and structures,
mirrors our own strategic thinking. The merger will position us as the leading
provider of legal, fiduciary and administration services across the offshore
world. Our entry into the Manx market further builds our strength and depth
across multiple jurisdictions — providing greater resources and greater
choice to our clients. In addition, Dickinson Cruickshank’s London presence
will strengthen our offering in the UK market. The merger will provide both
firms’ corporate, institutional and private clients with greater resources
across the locations and time zones in which they do business and a broader
choice of structures and jurisdictions, unmatched by any other offshore firm.
We believe that the move will reinforce Appleby’s position as the first
choice for clients in the offshore sector.”
The merger will enable Appleby to further extend the services it offers to
global clients seeking high quality, sophisticated financial centres through
which to invest. It follows the firm’s successful opening in Mauritius
in 2008, providing clients with greater access to the high growth Middle East,
Asian, Indian and African markets, and in Zurich in 2009, offering access to
the range of offshore centres to private bank and institutional clients in Switzerland.
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