It was announced earlier this month that Anglo Irish Bank has acquired Ernst & Young Trust Company Limited (EYTCL) on the Isle of Man, via its offshore subsidiary, Anglo Irish Trust (IOM) Limited.
It is hoped that in due course, ETYCL will be incorporated into AIT's existing trust operations in the region in order to create one of the largest suppliers of fiduciary services in the International market.
Speaking following the announcement, Anglo Irish Bank's chief executive, Sean Fitzpatrick expressed optimism for the future of the venture, explaining that: 'The acquisition is in line with AIT's strategy of focusing on high quality, tax effective work, taking advantage of the Island's low tax regime and strong regulatory framework.'
He continued: 'EYTCL has a strong, experienced, and highly qualified management team which we are looking forward to working with as we commence our integration plans.'
EYTCL's current managing director, Larry Kearns was also enthusiastic about the move, observing earlier this month that: 'The timing is perfect, as the Isle of Man announces its move towards zero rate company tax and other measures to consolidate its position as one of the world's leading international financial centres.'
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment