All 50 staff in the Jersey office will be kept on and the new management say they have every intention of growing the business both locally and internationally.
The sale to management buy-in vehicle Accomplish Ltd – soon to be rebranded as ‘Vistra’ – also includes Chiltern’s London fiduciary operation which currently employs nine staff.
Chiltern, who were advised by London firm Wyvern Partners, say they decided to sell off the trust division because of ‘certain inherent conflicts’ with the company’s core tax advisory business.
Directing the new business will be Dennis Lavin, a long-standing shareholder of Chiltern, and Geneva-based Bart Deconinck, who have worked together for some years to build up the business of MeesPiersonIntertrust, a global fiduciary business which is part of the Fortis group.
Prior to resigning in January Mr Deconinck was global chief executive officer overseeing 25 offices – including Guernsey – and Mr Lavin ran the offices in London, Dubai and Isle of Man.
