Bank Cainvest Acquires Intertrust Bank in the Cayman Islands

December 23, 2015 (MMD Newswire) — Cainvest International Bank Ltd (“Bank Cainvest”) today announced it has acquired the totality of shares of Intertrust Bank (Cayman) Ltd. (“Intertrust Bank”) from Intertrust Holding (Cayman) Limited. Intertrust Bank is a market leader in providing Authorized Agent Service for Category B banks in the Cayman Islands.Bank Cainvest has merged Bank Cainvest with Intertrust Bank creating Cainvest Bank and Trust Ltd., holder of a Category A banking licence. The acquisition is part of the continuous progress of Bank Cainvest to expand its service-driven banking operations. Final preparations are currently being undertaken by both parties to ensure a smooth transfer of the business. The merger will allow Cainvest Bank and Trust to support Intertrust’s existing ‘representative banking’ business whereby clients require administrative and regulatory filing services in the Cayman Islands to ensure compliance with Cayman Islands Laws and regulatory requirements. As a result of the acquisition, Cainvest Bank and Trust will welcome Intertrust Bank’s existing staff. Leading the team from Intertrust Bank will be Mrs. Carmen Thompson-Lopez – Chief Manager of Financial Institutions. The acquisition and merger were approved by the Cayman Islands Monetary Authority. Financial terms are not disclosed.

Garry John Wilkins, Managing Director of Cainvest Bank and Trust:

“We look forward to welcoming Intertrust Bank’s clients and employees to our organization. Cayman Islands is a great country from where to operate a leading institutional bank, and we are confident that Cainvest Bank and Trust has all the attributes required to grow and prosper in a sustainable manner.”

Charles Aboulafia, CFO of Cainvest Bank and Trust:

“The acquisition and merger with Intertrust Bank will generate many synergies with Bank Cainvest as both institutions are specialized in serving the global institutional market from the Cayman Islands. I would like to take this opportunity to welcome Intertrust Bank’s clients and executives joining our platform. “

Marije van der Lint, Managing Director of Intertrust Holdings:

“We are pleased to see Intertrust Cayman’s banking operations come into the hands of Cainvest, ensuring that clients and employees will not experience any discontinuity. The transfer of these activities is in line with Intertrust’s focus on core activities of trust and corporate services, as well as fund administration.”

About Intertrust

Intertrust is a leading global provider of high-value trust and corporate services, with a network of 36 offices in 26 jurisdictions across Europe, the Americas, Asia and the Middle East. The Company focuses on delivering high-quality tailored services to its clients with a view to building long-term relationships. Intertrust’s business services offering comprise corporate services, fund services, capital market services and private client services. Intertrust has leading market positions in selected key geographic markets of its industry, including the Netherlands, Luxembourg, the Cayman Islands and Guernsey.

About Cainvest

Cainvest is part of the Cohab/Aboulafia Group which began operations in 1961 with the founding of Trisoft Group in Brazil, now the largest manufacturing group of processed polyester of Latin America. For more information on Trisoft, please visit www.trisoft.com.br. The Group first expanded into financial services in 2006 with the launch of Cainvest International S.A. and has acquired in 2010 the totality of shares of Sul America International Bank (Cayman) Ltd, founded in 1994. Bank Cainvest is headquartered in the Cayman Islands and holds a Class B Bank License issued by CIMA. Although Bank Cainvest’s license does not restrict leverage, the Bank’s controllers are extremely conservative and have restricted any kind of leverage on the Bank’s Balance Sheet. This restriction ensures the long term stability of the Bank and, consequently, safe custody of clients’ assets. Bank Cainvest currently offers high-end banking services for both institutional clients and high net worth individuals. For more information on Bank Cainvest, please visit www.cainvest.com.