Ocorian

Last updated

Ocorian
Company typePrivate
IndustryCorporate and fiduciary services
Founded1971 as Bedell Trust
Headquarters,
Key people
Frederik van Tuyll (CEO)
Services Professional services
Number of employees
~1,250
Website www.ocorian.com

Ocorian is a provider of trust, administration and fiduciary services for companies, institutions, individuals and funds. The company has connections to the offshore magic circle. It was founded in Jersey as law firm Bedell Cristin, with Bedell Trust providing financial services.

History

In 1939, Advocate George Bedell founded his practice at 21 Hill Street, Saint Helier, Jersey. He had previously been commissioned to introduce income tax to the island and was appointed first controller of income tax for Jersey in 1928.

After moving back to England during World War II, he returned to Jersey and set up in partnership with lawyer, Dick Cristin. Together they founded Bedell and Cristin in 1958. [1] Dick Cristin helped pioneer the abolition of the statutory 5% cap on interest rates in 1962. In 1971 the company expanded into managing trusts and created a new division known as Bedell Trust.

The company operates in Luxembourg, Ireland, the Netherlands, Malta, the Isle of Man, Guernsey, the British Virgin Islands, Cayman Islands, Bermuda, Mauritius, Singapore, Hong Kong, and the United Arab Emirates.

In September 2016, management completed a private equity-backed buyout. Inflexion private equity provided financing, although exact terms were not disclosed.

Bedell Trust, the investment business of the Bedell Group, rebranded to Ocorian in November 2016, keeping the Bedell Cristin for the legal business. [2] With funding from Inflexion, Ocorian acquired Capco Trust, which is also based on Jersey, MAS International, a fund administration and corporate services provider in Luxembourg, Mauritius and the US, and ABAX, based in Mauritius. Nick Cawley headed the combined trust company. [3]

In 2018, the law firm Solomon Harris in the Caymen Islands merged into Bedell Cristin. [4]

In February 2020, Estera merged into Ocorian. [5] In March 2020, Bedell Cristin signed the first virtual affidavit, due to the COVID-19 pandemic. [6]

Related Research Articles

<span class="mw-page-title-main">Apax Partners</span> British private equity firm

Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of December 2023, the firm had raised and advised funds of approximately $65 billion (USD). Apax Partners is one of the oldest and largest private equity firms operating on an international basis.

TD Cowen, is an American multinational investment bank and financial services division of TD Securities that operates through two business segments: a broker-dealer and an investment management division. The company's broker-dealer division offers investment banking services, equity and credit research, sales and trading, global prime brokerage, outsourced trading, global clearing and commission management services. Cowen's investment management segment offers actively managed alternative investment products. Founded in 1918, the firm is headquartered in New York and has offices worldwide. Cowen claims it is known for successfully identifying emerging industries early on, especially the emerging cannabis industry.

Cinven Limited is a global private equity firm founded in 1977, with offices in nine international locations in Guernsey, London, New York, Paris, Frankfurt, Milan, Luxembourg, Madrid, and Hong Kong that acquires Europe and United States based corporations, and emerging market firms that fit with their core businesses, and necessitate a minimum equity investment of €100 million or more. As of 2023, it has €39 billion in assets under management.

<span class="mw-page-title-main">Northern Trust</span> American financial services company

Northern Trust Corporation is an American financial services company headquartered in Chicago, Illinois that caters to corporations, institutional investors, and ultra high net worth individuals. Northern Trust is one of the largest banking institutions in the United States and one of the oldest banks in continuous operation. As of June 30, 2022, it had $1.7 trillion in assets under management and $17 trillion in assets under custody. Northern Trust Corporation is incorporated in Delaware.

<span class="mw-page-title-main">CVC Capital Partners</span> British private equity and investment advisory firm

CVC Capital Partners is a Luxembourg-based private equity and investment advisory firm with approximately US$155 billion of assets under management and approximately €157 billion in secured commitments since inception across American, European and Asian private equity, secondaries and credit funds. As of 31 December 2021, the funds managed or advised by CVC are invested in more than 100 companies worldwide, employing over 450,000 people in numerous countries. CVC was founded in 1981 and, as of 31 March 2022, has over 650 employees working across its network of 25 offices throughout EMEA, Asia and the Americas.

Appleby is a leading offshore legal services provider.

<i>Times Higher Education</i> Weekly magazine based in London

Times Higher Education (THE), formerly The Times Higher Education Supplement, is a British magazine reporting specifically on news and issues related to higher education.

<span class="mw-page-title-main">UKFast</span> Former British internet hosting company

UKFast.Net Limited was a business-to-business internet hosting company based in Manchester, England. It was principally known for managed hosting, cloud services, and co-location. The business was founded by the convicted rapist, Lawrence Jones. The business owns and operates its data centre complex in Trafford Park.

Charterhouse Capital Partners is a London based private equity investment firm focused on investing in European mid-market companies valued between €200m and €1.5bn. The company targets investments across the services, healthcare, specialised industrials and consumer sectors.

Webber Wentzel is an African law firm headquartered in Johannesburg, South Africa. The firm operates in a collaborative alliance with global law firm, Linklaters.

<span class="mw-page-title-main">Intertrust Group</span> Dutch corporate management service company

Intertrust is an international trust and corporate management company based in Amsterdam, Netherlands. In November 2022, it was acquired by Corporation Service Company. The company is best known for its fiduciary services, which includes tax, trust, business management and outsourcing processes. It is the largest trust office in the Netherlands.

Mourant is an offshore law firm headquartered in Saint-Helier, Jersey. Mourant is one of the largest offshore law firms, with just over 70 partners and 700+ staff. It is a member of the offshore magic circle.

<span class="mw-page-title-main">Nautic Partners</span> Private equity firm

Nautic Partners is a private equity firm focused on leveraged buyout investments in middle market companies across a range of industries that includes healthcare, industrial products, and outsourced services.

Universal Investment is a group of companies headquartered in Frankfurt am Main with three regulated investment companies based in Germany, Luxembourg and Ireland. Biggest part is Universal-Investment Gesellschaft mbH, founded in 1968. Core offerings are investment fund services and management company services for asset management companies and institutional investors. The company launches and administers funds for all asset classes such as securities, alternative investments and real estate.

Bedell Cristin is an offshore law firm that provides legal services in financial jurisdictions for corporate clients, financial institutions, and private clients. It has offices in the British Virgin Islands, Cayman Islands, Guernsey, Jersey, London, and Singapore.

Maitland(a part of Apex Group) is a privately-owned investment holding company. In 2021, its Private and Corporate Client Services business was acquired by Stonehage Fleming and in 2022 its Fund and ManCo business was acquired by Apex Group.

Jubilee Holdings Limited is a financial services holding company, with its headquarters in Nairobi, Kenya. The company maintains subsidiaries in Kenya, Uganda, Tanzania, Burundi, and Mauritius. Its activities are mainly in the insurance sector.

Sanne Group is a provider of asset management services. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by Apex Group in August 2022.

Estera was a global provider of corporate, trust, fund and accounting services. The company was created following a management buyout of the fiduciary group of Appleby. It rebranded as Estera in April 2016. In February 2020 Estera merged with Ocorian.

<span class="mw-page-title-main">JTC plc</span> Fund manager

JTC plc is a provider of fund administration services. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

References

  1. "Celebrating 80 years of success". 25 September 2019. Archived from the original on 23 October 2020. Retrieved 26 September 2021.
  2. Helen Burggraf (November 2016). "Former Bedell Trust biz re-brands as 'Ocorian'". International Investment. Retrieved 26 September 2021.
  3. Helen Burggraf (2018). "Now Ocorian to acquire biz services company in Mauritius". International Investment. Retrieved 26 September 2021.
  4. Christopher Copper-Ind (7 August 2018). "Law firm Solomon Harris to merge with Bedell Cristin". International Investment. Retrieved 26 September 2021.
  5. April French Furnell (19 July 2019). "Ocorian and Estera to merge". City Wealth. Retrieved 26 September 2021.
  6. Pedro Gonçalves (31 March 2020). "Bedell Cristin swears first virtual affidavit in Jersey". International Investment. Retrieved 26 September 2021.