Overseas Trust and Pensions announces the transfer of Kleinwort Benson’s offshore retail pension and trust business

| November 30, 2012 | 0 Comments

Overseas Trust and Pensions, is to become one of the largest specialist trust and pension providers in the Channel Islands following the announcement of Kleinwort Benson’s to transfer its international pension and trust ranges to their stable of products.

Overseas Trust and Pension offers a full range of retirement, pension and trust solutions for international markets together with a range of country specific products for jurisdictions such as South Africa, Spain and The Middle East. Under the transfer, Kleinwort Benson will continue to provide some investment services to products run by Overseas Trust and Pension. Kleinwort Benson’s dedicated investment team manages a multi asset range with a number of innovative, sophisticated funds for differing risk profiles, diversified across a wide range of uncorrelated asset classes.

David Higgins, at Overseas Trust and Pension said; “We welcome and would like to reassure our new clients and professional advisers that it’s “business as usual”. Our intention is to enhance the range of pension and trust services currently offered by delivering new, innovative, cost effective solutions for professional advisers.”

David adds; “This transaction demonstrates our commitment to the future of the international trust and pension market. We are now one of the largest trust and pension providers in the Channel Islands and remain dedicated to supporting advisers and their clients all over the World.”

Clive Wright, Managing Director of Private Wealth Management, comments; Offshore Division at Kleinwort Benson said, “The High Net Worth and corporate business lines acquired from Close Brothers in 2011 were a strong strategic fit with Kleinwort Benson and have become core parts of our business. However, the retail packaged trusts and pension plans, while recognised for their innovation and strong position in the market, are not an area of focus for us and for that reason, we have taken time to find a partner which is well-placed to continue to grow these business lines and deliver efficient service to clients.

“We are working very closely with Overseas Trust and Pension to ensure a smooth transition for both clients and their advisers and the initial feedback has been very well received. In addition, we are looking to enhance our investment proposition to further support the international pension industry and in particular Overseas Trust and Pension.”

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Category: Finance & Business

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