Capital G Bank Rebrands As Clarien Bank

April 22, 2014

clarien bank logo 222[Updated with photos] Clarien Group Limited announced that they will be renaming Capital G Bank to Clarien Bank Limited.

This includes all subsidiary companies: Capital G Investments Limited, Capital Trust Limited, Capital G BSX Services Limited, CGI Nominees Limited and Capital G Brokerage Limited.

Clarien said, “The Group combines unrivalled access to one of the world’s most dynamic and sophisticated offshore financial centres and deep international banking experience to deliver world-class financial services to ultra high net worth individuals, families and corporations worldwide.

The company said that the organizational rebrand will not impact current clients ability to complete transactions using their current account numbers, Capital G credit and debit cards or cheques.

The former Capital G location at 19 Reid Street will continue to serve as the head branch, and the Paget Plaza location remains available for full financial services. Customer service remains available via the same phone number on 296.6969.

The company said, “Clarien Bank Limited shares the heritage of Capital G’s strong reputation over the past four decades for providing high quality product offerings and services to meet the financial needs of its local clients.

“Clarien Bank Limited will draw on and use this heritage and the strength of its senior management team to offer an expanded range of products and solutions in wealth and asset management and corporate and investment banking to clients globally.

“Clarien Bank Limited will continue Capital G Bank Limited’s successful expansion into the areas of M&A advisory, structured finance, brokerage, capital raising and listings, as well as the development and distribution of new investment products, especially insurance-linked products.

“Clarien Bank Limited will offer a full range of securities distribution, market making and underwriting capabilities through its investment banking arm, delivering market leading knowledge of legal and regulatory issues and financial expertise to clients across the Middle East. This inturn, will provide the bank with greater access to a broader institutional and qualified investor universe.

“Clarien Bank Limited will be led by a seasoned management team with deep international banking, investment banking, asset and wealth management, trust and insurance expertise. Mr. Zoran Fotak and Mr. Ian Truran, Co-CEO’s, are both founders of Clarien Group Limited and have extensive knowledge and experience in banking, investment and trust services.

“Mr Fotak has held senior positions within Credit Suisse Securities, Merrill Lynch, the Royal Bank of Canada and St. George Asset Management. Mr Truran is a Bermudian national with extensive experience in the local and international banking industry, formerly at Butterfield Bank.”

Slideshow of the new branding at their Hamilton location:

Zoran Fotak/Ian Truran, Co-Chief Executive Officer, commented: “Our ambition for Clarien Bank Limited is to develop a world-class financial institution with an international footprint that allows us to bring the strengths of Bermuda to a global client base.

“The emergence of a new generation of highly entrepreneurial, ultra high net worth individuals is challenging the traditional offshore banking model, with clients increasingly demanding a more sophisticated full-service offering.

“Bermuda is uniquely positioned with its sophisticated infrastructure, intellectual talent and accessibility to become the premier destination of choice for offshore banking solutions.

“We believe that the strengths of this jurisdiction, along with our unique blend of international banking experience, thorough risk controls and access to major global capital and financial markets will prove a compelling mix for clients.”

In January of this year, CWH/Clarien Group assumed the majority ownership of Capital G Limited [now Clarien Bank], while Edmund Gibbons Ltd remained involved as a minority shareholder.

CWH Limited founders include David Carrick, Robert Flohr, Zoran Fotak, Mitchell Hedstrom, Ian Truran and Keith Stock.

The company said clients should now visit www.clarienbank.com to access eBanking or to learn more about the Clarien Bank rebrand, products and services.

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Comments (27)

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  1. swing voter says:

    now I have no alternative….but to stuff cash in my mattress ;-(

  2. not tt says:

    Put more ATMs across the island so that I won’t get charged to access MY money!

  3. somuchless says:

    I’ll miss the Captial G name and stuff.

    • Tough Love says:

      Me too! I wish they would have told the customers that they are changing the name. No notice or anything. What happens to your checks, wires, etc. that are setup in Capital G’s name?

      When Wells Fargo took over Wachovia, we got letters in the mail about the name changing etc.

      • In Mark's Opinion says:

        I received a notice about changes in mail last week. Yours is coming I guess.

  4. Ben Dover says:

    I guess “Capital G” won’t be letting any more people go.

  5. Hmmmmm says:

    So is the pretend-media in this country ready to call this “amalgamation” what it really is ? The Board was fired, Capital G bailed out and this is the latest proof. But of course, God forbid that the name Gibbons be associated with a business failure. This who know understand.

    • haha says:

      It was deeper than that…those in the know really know and it had to be done. If you really knew, you wouldn’t be saying that dumb **** you talking. none of that happened…

      There was NO BUSINESS FAILURE!! and um in the know

      • Hmmmmm says:

        Until you or others “in the know” tell the story I am entitled to interpret the quacking I am witnessing as the confirmed sound of a duck.

        • haha says:

          Who says we have to tell the story, some things are best left untold as YOU and others DO NOT NEED TO KNOW. That’s the problem with Bermudians, too much watchy watchy and false rumours goin round when u think ya “in the know.”

          Just shows how stupid you really are believing fiction as truth. Dummy!

          • Hmmmmm says:

            Oh ok. Maybe one of the families whose monthly mortgage payment just doubled will tell us what really happened.I keep forgetting that openness and transparency only applies to businesses run and owned by my people. shucks….

  6. yessbully says:

    took my own gross net and hid it under my mattress #3hunna

  7. We care says:

    I can’t believe these guys! This is why business are seen to be putting profits over people. Rather than do the right thing and grandfather the mortgage subsidies of existing employees they take them away and rebrand and everyone is supposed to be happy? Sounds like a good opportunity for the new peoples movement to exercise some people power and boycott this bank!

    Oh yeah and the Bermudian CEO who goes on and on about integrity…..you need to take a look in the mirror!

    Outrageous!!

  8. Robert says:

    Gibbons family has sold those bermudian employees out…..threw them under the bus !!!!

    • Steve Biko says:

      Trimmingham sold out and now Gibbons, good business move for the families but not for the employees, that’s business !!!!!!!!!!!!!

    • employee says:

      yeah they really did that…lmao ya a real coconut. if you really knew de family you’d know there the last ppl to do something like dat!!

  9. Robert says:

    Back to the days when black bermudians lived in fear of their houses being snatched away from them. Well done OBA…40 theives back again !!!!!!! Craig you should be ashamed of yourself….i hope they took good care of your future !!!!!!

  10. It is coming says:

    According to the news, they are looking into opening a real estate department!! WoW!! Is this to take in the delinquent staff mortgages and sell them to foreigners. All part of the big plan I guess!!!! This is crazy. We all need to pay attention!!!

  11. Coffee says:

    Did anyone expect better from these people. This banks profit margin just increased in house by the stroke of a pen . The previous owners sold them like chattel and said ,’do with them as you like.’ HSBC employees with mortgages , if there is any Vaseline left on the shelf from Cap G employees you’d do well to snap it up .

  12. Datbye says:

    Simple way to resolve the crap that has just happened, everyone take out your money from this place ASAP Simple.

    Hit them where it hurts we have no need for a company like this I feel so sorry for the employees.

    This company seems to have no care for Bermuda or Bermudians.

    When are we going to start doing Bermuda for Bermudians.

  13. Bermudacentric says:

    Bermuda needs to wake up to the fact that our banks our no longer ours and the reality is these ‘investors’ have no loyality or interest in our island outside of their return on investment. Clarion taking away the mortgage benefit is the beginning of what is to come at all of our banks. Wages will not rise, moral will remain low and redundancies will continue as our investors care not about the human consequences of stratrgic planning but rather maximizing profit. Of the billions of $ in mortgages outstanding the yearly interest payments amout to a minimum $100m, funds that most likely wont be reinvested in our local economy, though it is the product of our blood sweat and tears. As a country we need to educate ourselves on the roles of a bank and what we are allowing to happen today.

    Peace & Love

  14. Maven says:

    Get ready Bermuda the noose is about to tighten. We got three banking devils now, and who let them in?

  15. Ms.Ventures says:

    I too,..am being subjected to Capitol G/ohh No..i used to be with FBG,…but whoops yep its Clarien now….Problem for them is they forgot to do their paperwork!
    Anyone out there who has a FBG Mortgage and would like some advice Please email me ..I am sure there are several people who had FBG Mortgages….please get in touch…..we may have common goals..
    Ms.Ventures cell:441-747-0000 can txt.