ZEDRA acquires Jersey based Azure Trust

21 April 2016

ZEDRA announces today that it has acquired the Jersey-based Azure Trust Group Limited (“Azure”).

Azure is a Jersey-based trust, corporate and fund services group, which will be merged into ZEDRA’s existing Jersey team, building a presence on the island of more than 120 people.

ZEDRA announced, upon completion of its acquisition from Barclays in January 2016, that Azure would be merged into the Group and today’s announcement marks the realisation of another strategic objective, following quickly on from the Group’s recent entry into the Hong Kong market.

ZEDRA’s Jersey office is the largest in the Group and its operations are closely integrated with its teams in Europe, Asia-Pacific and the Caribbean.

Azure delivers corporate, private client, employee solution and fund services to clients around the world. Its acquisition adds further strength and scale to ZEDRA’s private client and fund services capabilities and provides increased expertise and experience that will enhance the range of corporate services the Group can offer to business and institutional investment clients going forward. Azure’s operations will be rebranded and integrated within ZEDRA.

Alan Tidy, Azure’s Managing Director, and his executive team will continue to manage the Azure client relationships, and Alan has been appointed as Executive Director of ZEDRA. Ashley Cox, Managing Director of ZEDRA’s Jersey operations, will head the expanded and integrated Jersey team. Ashley Cox, Managing Director, Jersey at ZEDRA, commented: “With Azure joining us, we are adding significant and very relevant experience and expertise, which will add considerable value to our operations both here in Jersey and throughout the Group. Azure has a strong and well-renowned team, who will add further strength and depth to our corporate and fund services offerings.”

Alan Tidy, Managing Director, Azure, added: “This strategic move makes a great deal of sense for both ZEDRA and our team. Our strategic objectives, growth and expansion aspirations are closely aligned. Our expertise in delivering corporate and fund services adds further strength to the Group and the scale we provide collectively will enable us to meet a broader range of client needs and will add further depth and value to the services ZEDRA can deliver.”

Niels Nielsen, Group Chief Executive Officer, ZEDRA, said: “When we launched ZEDRA, we knew that Azure would be a perfect fit for the organisation and would add significantly to our ambitious growth plans. We have made excellent progress against our strategic objectives and integrating Azure into the Group supports our ambitions to strengthen and expand the services we offer to clients and our capacity to deliver.” ZEDRA has a 50-year pedigree and more than 300 people serving clients across its core locations: Jersey, Guernsey, the Isle of Man, the Cayman Islands, Hong Kong, Netherlands, Singapore, the UK and Switzerland.