Appleby have advised Suntera Global on the acquisition of Nedgroup Trust, a highly regarded fiduciary services provider in Jersey and Guernsey from Nedbank Private Wealth, assisted by Carey Olsen and Gowling WLG.
The acquisition, which remains subject to regulatory approval, was undertaken with the support of the Appleby team in relation to all elements of the acquisition from a Guernsey and Jersey perspective, including due diligence of the target group, negotiation and finalisation of the transaction documentation with the Seller, pre and post-completion structuring guidance, and regulatory assistance.
Nedgroup Trust provides a full suite of fiduciary services to high-net worth individuals, ultra-high-net worth individuals, family offices and owner managed businesses. Nedgroup Trust has a 70 strong team of staff across the Channel Islands, with 50 of those based in Guernsey, a new jurisdiction for Suntera, and supports a significant international client base including a substantial proportion based in South Africa.
Suntera Global is an independent global provider of fund, corporate and private wealth services.
The Appleby team was led by Jersey Corporate Partner Andrew Weaver (Picture), with the Jersey Corporate and Regulatory support from Senior Associates Chris Smedley, Gemma Whale and Associate Stephen Parnell. Further Jersey law assistance was provided by Group Partner Niall MacDonald, Senior Associate Lara von Wildenrath (both Dispute Resolution) and Group Partner John Bisson (Property). The Guernsey team was led by Corporate and Regulatory Partner Stuart Tyler, with Guernsey Corporate support from Oratile Jonas and further Jersey and Guernsey law assistance by Group Partner Richard Sheldon (Employment) and Partner Richard Field (Data Protection).
The Carey Olsen team was led by Jersey corporate partner David Taylor, assisted by associate Tim McAlpine-Scott. Corporate partner Tom Carey and senior associate Colin Calvert also advised on the Guernsey aspects of the transaction, with counsel Huw Thomas also providing specialist employment law input throughout.
The Gowling WLG’s legal team advising Nedbank Private Wealth was led by corporate partner Neil Hendron supported by principal associate Sian Dewing and trainee Benjamin Obinali.
Involved fees earner: John Bisson – Appleby; Richard Field – Appleby; Oratile Jonas – Appleby; Niall MacDonald – Appleby; Stephen Parnell – Appleby; Richard Sheldon – Appleby; Chris Smedley – Appleby; Stuart Tyler – Appleby; Lara Von Wildenrath – Appleby; Andrew Weaver – Appleby; Gemma Whale – Appleby; Colin Calvert – Carey Olsen; Tom Carey – Carey Olsen; Tim McAlpine-Scott – Carey Olsen; David Taylor – Carey Olsen; Huw Thomas – Carey Olsen; Sian Dewing – Gowling WLG; Neil Hendron – Gowling WLG;