Equity Trust Acquires Ernst And Young's Luxembourg Corporate Secretarial Operation

by Ulrika Lomas, for LawAndTax-News.com, Brussels

03 November 2006

It emerged this week that Equity Trust and Ernst & Young have entered into a sale and purchase agreement whereby Equity Trust has acquired Ernst & Young’s domiciliation business and related corporate secretarial services in Luxembourg.

The transaction came into force on October 31.

Raymond Schadeck, CEO of Ernst & Young Luxembourg, explained that:

“This transaction is driven primarily by Ernst & Young’s realignment to core services, i.e. Audit, Risk advisory and Tax services. In choosing Equity Trust as the buyer, Ernst & Young has secured a specialist trust, fiduciary and corporate administrator and a major player in the Luxembourg and international markets.”

Hugo van Vredenburch, CEO of Equity Trust added:

“Equity Trust’s reputation and solid performance has been built on the delivery of high quality services to its private, corporate, institutional and intermediary clients. This acquisition continues our strategy of acquiring quality businesses, having bought ABN AMRO and Standard Chartered Banks’ trust businesses in the preceding two years. We will continue to identify strategic acquisitions and partnerships that enhance our global service offering.”

With approximately 900 staff, Equity Trust operates in the following jurisdictions: Luxembourg, the Netherlands, Switzerland, United Kingdom, Belgium, Jersey, Guernsey, Sweden, Liechtenstein, Malta, Cyprus, Hong Kong, China, Singapore, Taiwan, Malaysia, Labuan, Mauritius, Samoa, New Zealand, the United States, Argentina, Brazil, Uruguay, the Netherlands Antilles, British Virgin Islands, Bermuda, Aruba and the Cayman Islands.

Recommended