Estera was a global provider of corporate, trust, fund and accounting services. The company was created following a
management buyout
A management buyout (MBO) is a form of acquisition in which a company's existing managers acquire a large part, or all, of the company, whether from a parent company or individual. Management-, and/or leveraged buyout became noted phenomena of 1 ...
of the fiduciary group of
Appleby. It rebranded as Estera in April 2016. In February 2020 Estera merged with
Ocorian.
Estera employed 550 people and had offices in 11 jurisdictions: Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Hong Kong, Isle of Man, Jersey, Luxembourg, Malta, Mauritius, United Kingdom.
Gary O'Connor, the managing director of Estera Trust (Isle of Man) Limited, was shortlisted for the
Institute of Directors
The Institute of Directors (IoD) is a British professional organisation for company directors, senior business leaders and entrepreneurs. It is the UK's longest running organisation for professional leaders, having been founded in 1903 and incor ...
Young Director of the Year award in September 2017.
In July 2019, it was announced that Estera would be merged with Inflexion Private Equity's company
Ocorian.
History
In December 2015, "
Appleby Fiduciary Business (AFB)", a Bermuda registered company and a branch of the law firm Appleby, was separated out legally from Appleby (Bermuda) through a management buy out by the private equity firm "Bridgepoint". In April 2016, it changed its name to "Estera", with the Group Chief Executive Officer being Farah Ballands. The company has offices in 11 locations.
The name of the new company was chosen based on inputs from their staff.
Estera was involved in the
Paradise Papers
The Paradise Papers are a set of over 13.4 million confidential electronic documents relating to offshore investments that were leaked to the German reporters Frederik Obermaier and Bastian Obermayer, from the newspaper'' Süddeutsch ...
leak.
Subsequent acquisitions
In 2017, Estera acquired Morgan Sharpe (in
Guernsey
Guernsey (; Guernésiais: ''Guernési''; french: Guernesey) is an island in the English Channel off the coast of Normandy that is part of the Bailiwick of Guernsey, a British Crown Dependency.
It is the second largest of the Channel Islands ...
), Heritage financial services group (in
Belfast
Belfast ( , ; from ga, Béal Feirste , meaning 'mouth of the sand-bank ford') is the capital and largest city of Northern Ireland, standing on the banks of the River Lagan on the east coast. It is the 12th-largest city in the United Kingdo ...
and
Malta
Malta ( , , ), officially the Republic of Malta ( mt, Repubblika ta' Malta ), is an island country in the Mediterranean Sea. It consists of an archipelago, between Italy and Libya, and is often considered a part of Southern Europe. It lies ...
) and Headstart s.a.r.l (Luxembourg).
See also
*
Asiaciti Trust
Asiaciti Trust is an international financial company established in Hong Kong, with operations in Asia, the Americas, and the Pacific. Its services revolve around corporate services, fiduciary matters, wealth protection, and administration.
Backgr ...
*
Ocorian
References
External links
*
{{Authority control
Financial services companies of Bermuda
Financial services companies established in 2015
Companies formed by management buyout
Paradise Papers
2015 establishments in North America