World’s biggest trust administrator?

Wednesday 22nd September 2010, 3:00PM BST.

Jersey managing director Iain Johns

THE biggest independent trust, fiduciary and administration company in the world could be created if a deal for the sale of one of the Island’s biggest trust businesses to a private equity group is approved by regulators.

It is proposed that Equity Trust be sold to Doughty Hanson & Co for about 350 million euros.

Doughty Hanson said that it intends to merge Equity Trust with TMF Group, its existing portfolio business. Doughty acquired TMF for 750 million euros in July 2008.

It says the latest deal with Equity will create ‘the world leader’ in the growing market of complex business administration outsourcing, and ‘redefine’ the market for such services.

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