Ocorian
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| Company type | Private |
|---|---|
| Industry | Corporate and fiduciary services |
| Founded | 1971 as Bedell Trust |
| Headquarters | , |
Key people | Frederik van Tuyll (CEO) |
| Services | Professional services |
Number of employees | ~1,250 |
| Website | www |
Ocorian is a provider of trust, administration, and fiduciary services for companies, institutions, individuals, and funds. The company has connections to the offshore magic circle. It was founded in Jersey as law firm Bedell Cristin, with Bedell Trust providing financial services.
History
[edit]In 1939, Advocate George Bedell founded his practice at 21 Hill Street, Saint Helier, Jersey. He had previously been commissioned to introduce income tax to the island and was appointed the first controller of income tax for Jersey in 1928.
After moving back to England during World War II, he returned to Jersey and set up in partnership with lawyer Dick Cristin. Together they founded Bedell and Cristin in 1958.[1] Dick Cristin helped pioneer the abolition of the statutory 5% cap on interest rates in 1962. In 1971, the company expanded into managing trusts and created a new division known as Bedell Trust.
The company operates in Luxembourg, Ireland, the Netherlands, Malta, the Isle of Man, Guernsey, the British Virgin Islands, Cayman Islands, Bermuda, Mauritius, Singapore, Hong Kong, and the United Arab Emirates.
In September 2016, management completed a private equity-backed buyout. Inflexion private equity provided financing, although exact terms were not disclosed.
Bedell Trust, the investment business of the Bedell Group, rebranded to Ocorian in November 2016, keeping the Bedell Cristin for the legal business.[2] With funding from Inflexion, Ocorian acquired Capco Trust, which is also based in Jersey, MAS International, a fund administration and corporate services provider in Luxembourg, Mauritius, and the US, and ABAX, based in Mauritius. Nick Cawley headed the combined trust company.[3]
In 2018, the law firm Solomon Harris in the Cayman Islands merged into Bedell Cristin.[4]
In February 2020, Estera merged into Ocorian.[5] In March 2020, Bedell Cristin signed the first virtual affidavit due to the COVID-19 pandemic.[6]
References
[edit]- ^ "Celebrating 80 years of success". 25 September 2019. Archived from the original on 23 October 2020. Retrieved 26 September 2021.
- ^ Helen Burggraf (November 2016). "Former Bedell Trust biz re-brands as 'Ocorian'". International Investment. Retrieved 26 September 2021.
- ^ Helen Burggraf (2018). "Now Ocorian to acquire biz services company in Mauritius". International Investment. Retrieved 26 September 2021.
- ^ Christopher Copper-Ind (7 August 2018). "Law firm Solomon Harris to merge with Bedell Cristin". International Investment. Retrieved 26 September 2021.
- ^ April French Furnell (19 July 2019). "Ocorian and Estera to merge". City Wealth. Retrieved 26 September 2021.
- ^ Pedro Gonçalves (31 March 2020). "Bedell Cristin swears first virtual affidavit in Jersey". International Investment. Retrieved 26 September 2021.
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