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Maples Fiduciary extends service offering to Jersey

Thursday, January 10, 2019
Opalesque Industry Update - Maples Fiduciary, a division of MaplesFS and leading global provider of specialised fiduciary, entity formation and management, insurance and administration services, has announced that it has received a Trust Company Business Licence from the Jersey Financial Services Commission and has established an on-the-ground presence in Jersey. The extension of its service offering to Jersey will include the provision of fiduciary services to corporate holding and structuring companies, limited partnerships and investment funds, as well as private trust services.

Jersey is one of the world's leading international finance centres and its robust regulatory framework, political and economic stability and forward-thinking approach have kept it at the forefront of the global financial services industry. The extension of the firm's fiduciary services offering in Jersey is a natural complement to the recent launch of Maples and Calder's legal services offering in the jurisdiction and is a reflection of the depth of the Maples group's offering globally. In support of this, Robert Lucas has joined the team as Senior Vice President, having operational responsibility for the Jersey office. In addition, Terése Price has been appointed as Vice President to support the Jersey business.

Mr. Lucas brings more than two decades of multi-jurisdictional experience and deep operational and strategic expertise, having held a number of senior leadership roles within the financial services industry. Previously, Mr. Lucas was a director at an independent global trust, corporate and fund services provider in Jersey. Prior to that, he specialised in running offshore fund and corporate structures in both directorial and administrative capacities with a number of global service providers. He received a Bachelor of Arts with honours in Accounting and Finance from the University of Liverpool in the UK and is a member of the Institute of Chartered Accountants in England and Wales.

Mrs. Price brings deep technical expertise from over 10 years' experience working in private wealth in Jersey, with extensive knowledge of various client structures and relevant statutory requirements. Previously, Mrs. Price was a manager in a private wealth team offering corporate services and trustee services to high-net-worth clients in multiple jurisdictions. She was overseeing a team portfolio including a variety of trusts and private trust companies. She is a qualified chartered secretary and an associate of the Institute of Chartered Secretaries & Administrators. She received a Bachelor of Social Science in Business Administration and a Bachelor of Social Science in Economics from Mälardalen University in Sweden.

In addition, Senior Vice President, Cleveland Stewart has relocated from Maples Fiduciary's Cayman Islands office to Jersey. Cleveland brings a vast amount of knowledge and experience to the team and will play an integral role in building the Jersey business. These individuals will be closely supported by Regional Head of Fiduciary Services, Stephen O'Donnell, as well as the Maples group's broader European business and support teams. "This extension of our fiduciary services offering supports the provision of an efficient, streamlined service for clients that have Jersey structures," said Scott Somerville, Chief Executive Officer. "We are thrilled to mark this next phase in our growth and are confident that the scale and scope of the Maples group's combined legal and fiduciary services offering in Jersey is unmatched, and makes us well positioned to continue delivering best-in-class solutions to the market."

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