Saffery Trust to open Cayman office with acquisition of Holdun Trust

5 May 2022


Saffery Trust has today announced the acquisition of Cayman Islands-based Holdun Trust (Cayman) Limited.

The acquisition, which is subject to regulatory approval, will see Holdun Trust rebranded and marks the establishment of a Saffery Trust office in the Cayman Islands – significantly strengthening the firm’s Cayman offering and further expanding its international footprint, which includes the Channel Islands, Switzerland and Dubai.

Saffery Trust first established a Cayman offering in 2020, in line with the evolving needs of the firm’s international and globally mobile client base, with significant growth seen since launch. The acquisition of Holdun Trust builds on this success, expanding Saffery Trust’s offering with a stand-alone full service office encompassing comprehensive fiduciary, trust and corporate services including the establishment and administration of Cayman Island structures such as STAR Trusts and foundation companies.

Founded by Brendan Dunn as part of a 5th generation family office dating back almost 150 years, Holdun Trust, which launched in 2015, is a wholly independent, fully licensed, and regulated trust company which has developed a well-earned reputation for exceptional client service built on long-standing relationships.

Nick Batiste, Managing Director of Saffery Trust, commented:

“As one of the leading financial centres with a robust legislative framework, the Cayman Islands continues to be a key jurisdiction of choice for clients and intermediaries seeking to establish structures that provide flexibility alongside security and peace of mind.

“Since we first launched our Cayman offering, we have seen significant and growing interest in the options the jurisdiction affords. The launch of this new office marks an exciting new chapter for our business, while further enhancing the Cayman Islands services we provide to our clients.

“On completion of the acquisition, Zoe Day and Fiona Pileta of Holdun Trust will join Saffery Trust, working alongside Paul Tucknott, managing director of Saffery Trust in Geneva, and Lisa Vizia, director of Saffery Trust in Guernsey, who together lead the firm’s Cayman Islands offering. We look forward to welcoming Zoe and Fiona to the firm.”

Zoe Day, director of Holdun Trust added:

“The Cayman Islands is renowned as a top-tier international financial centre, providing a range of unique options and opportunities for clients choosing to base their structures here. Whether for corporate or philanthropic purposes, to protect the privacy and interests of family members, or to manage complex portfolios including cryptocurrency and other digital assets the Cayman Islands offers significant advantages. On behalf of Holdun Trust I am very pleased to now be able to provide clients access to these advantages as part of Saffery Trust and to help contribute to the continued growth of the firm.”

Brendan Dunn, CEO of Holdun Family Office, said:

“I am immensely proud of what Holdun Trust has achieved since we launched the business in 2015. Now was the right time to step back, evaluate that success, and provide a new platform for the team to continue the firm’s upward trajectory and expand the breadth and depth of services and expertise available to the individuals and families it serves. Saffery Trust has a long and distinguished heritage, sharing our family office culture and values along with our steadfast belief in the advantages clients receive from a truly independent trust company. I know, therefore, that the business is in the best of hands and that the future for Holdun Trust and its clients as part of Saffery Trust is bright.”

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Nick Batiste
Managing Director, Saffery Trust

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