Nov 05 2008

FirstRand reorganises Jersey business

Published by at 8:42 pm under Companies,Top Stories

SA financial institution FirstRand is re-organising its international private wealth management business headquartered on Jersey.

As part of the reorganisation a new firm, called FirstRand Private Wealth Management, was established on Jersey. Headed by CEO Trevor Falle, the firm appointed 14 staff members and now targets high net worth clients on the Channel Islands and in Dubai. FirstRand PWM aims to expand to India in 2009. 

Other reorganisation measures include: Trust firm RMB International was rebranded as FirstRand Trustees. Investment management firm Ashburton will continue as a separate institution with its own identity. The three Jersey wealth management/trust & fiduciary businesses will become more integrated, Falle told the alternative investments blog Jetfin Emerging Markets.

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At the time of writing this article, I couldn’t find any sign of the changes on any FirstRand site, nor could I find any press statement to this effect. Let’s hope Jetfin is a reliable blogger!

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