Crestbridge concludes Bahrain buy-out

Fund services provider Crestbridge has gained regulatory approval for its acquisition of Bahrain-based Ohad Trust.

The deal gives Crestbridge, which is headquartered in Jersey, a presence in the Middle East. Paul Perris, group managing director, described the Middle East as “strategically important”.

“We welcome the team from Ohad which has a wealth of experience of operating in the region spanning almost 15 years,” he said.

Ohad Trust, which became the first licensed provider of trust services in Bahrain in 2005, employs more than ten people and is led by Graham Journeaux and Naser Obaid. Crestbridge says it will rename the firm and supplement the team with staff transfers from elsewhere in the group.

Besides its base in Jersey, Crestbridge has offices in London, Luxembourg and the Cayman Islands.

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