Butterfield To Acquire Legis Trust Business

The Bank of N.T. Butterfield & Son Limited has announced that it has reached agreement in principle with Legis Group Holdings Limited to acquire Legis Group's Guernsey-based trust and corporate services business, subject to regulatory and other approvals. The acquisition is expected to be completed during the first quarter of 2014.

Legis Group's trust and corporate services business provides trust and company administration services to private clients and institutions. Butterfield also provides a wide range of trust and fiduciary services in Guernsey, as well as private client, institutional custody and administered banking services.

Bob Moore, Executive Vice President & Head of Group Trust at Butterfield, said: "Legis is a high quality, well-managed trust business with highly-qualified employees who are respected within the industry for their expertise and professionalism.  We are very pleased to have them join the Butterfield team.