GRAND CAYMAN, Cayman Islands--(BUSINESS WIRE)--We are pleased to announce that on 26 June 2013, ITA Cayman Holdings Ltd. (“ITA”) agreed to acquire Standard Chartered Trust (Cayman) Limited (“SCTC”), along with their clients from Latin America. The ITA Group through its fiduciary arm of ITA Global Trust Company Ltd. provides trustee and corporate management and administration services to high net worth clients, private trust companies, investment funds and privately held companies. A major focus of business for the ITA Group is Latin America and this acquisition further builds the business presence in that region.
The acquisition is subject to regulatory approval. In the meantime both ITA and SCTC will carry on business as usual, whilst the non Latin America clients of SCTC are transferred to their fiduciary entities in Singapore or Guernsey.
William Zelaya, a Director of ITA commented: “With the growth of Investors Trust Assurance SPC in Latin America, this acquisition also develops our fiduciary foothold within the region. We are excited by the continued growth of our regulated entities in the Cayman Islands, which we consider to be the most sophisticated offshore jurisdiction in the Americas and ideally located for our Latin American clients.
It is anticipated that the business of ITA Global Trust Company Ltd. will transfer into the newly acquired company and President Ian Phillips said, “We have seen significant growth in our business during the first three years of operations. This acquisition further cements our fiduciary business and with the addition of staff that will be joining us at our existing Camana Bay location will ensure we continue to provide a personalised service to the needs of our international clients."
For more information please contact IPHILLIPS@ITAGLOBALTRUST.COM
About ITA Global Trust Company Ltd.
ITA Global Trust Company Ltd. is licensed by the Cayman Islands Monetary Authority to carry on Trust business. Based in the Cayman Islands, ITA Global Trust provides structured solutions to a global diversification of clients including Latin America. Visit www.itaglobaltrust.com for more information.
About Investors Trust Assurance SPC.
Investors Trust Assurance SPC is an A.M. Best “B++” rated leader in the offshore insurance business offering comprehensive unit-linked insurance plans to investors around the world. ITA is a registered insurance company holding a Class B Insurer License from the Cayman Islands Monetary Authority. ITA seeks to provide opportunities to policyholders through access to the global financial markets. Visit www.investors-trust.com for more information.