Clarien Bank To Acquire Cayman Business
Clarien Bank today announced that it has “entered into agreements to both acquire the Cayman Islands banking business of NCB Financial Group Limited [NCBFG] and expand its capabilities to include investment management services in the Cayman Islands, subject to customary regulatory approvals.”
A spokesperson said, “As part of an intra-group reorganisation within NCBFG, this will allow certain existing wealth management relationships that are currently managed by an affiliated company, NCB Capital Markets [Cayman] Limited, to be transitioned to the Clarien platform in a seamless and orderly manner. Clients will benefit from access to Clarien’s established banking and investment capabilities, and expertise as those already offered its clients in Bermuda.
“In keeping with the plans of the transaction, NCB [Cayman] Limited will be rebranded under the Clarien name and brand identity, reinforcing Clarien’s regional presence and integrated private banking and wealth management offering in the Cayman Islands.
“Importantly, the arrangements are designed to ensure continuity of service, with clients continuing to be supported by experienced teams familiar with their needs, while gaining access to an expanded suite of products and services.”
Commenting on the planned transactions, Ian Truran, Chief Executive Officer of Clarien Bank Limited, said, “This marks an exciting new chapter for Clarien and a significant milestone in our growth journey. We have long recognised the Cayman Islands as a high-quality offshore market, and this expansion aligns closely with our core banking and wealth management strengths.
“We look forward to welcoming clients and colleagues from NCB [Cayman] Limited and NCB Capital Markets [Cayman] Limited, and we remain fully committed to ensuring a smooth transition while continuing to deliver the high standards of service, professionalism, and personalised care that define the Clarien experience.”
