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 buyouts became noted phenomena of 19 ...
of the fiduciary group of
Appleby. It rebranded as Estera in April 2016. In February 2020 Estera merged with
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.
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 inco ...
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.
The name of the new company was chosen based on input from 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'' Süddeutsche Z ...
leak.
Subsequent acquisitions
In 2017, Estera acquired Morgan Sharpe (in
Guernsey
Guernsey ( ; Guernésiais: ''Guernési''; ) is the second-largest island in the Channel Islands, located west of the Cotentin Peninsula, Normandy. It is the largest island in the Bailiwick of Guernsey, which includes five other inhabited isl ...
), Heritage financial services group (in
Belfast
Belfast (, , , ; from ) is the capital city and principal port of Northern Ireland, standing on the banks of the River Lagan and connected to the open sea through Belfast Lough and the North Channel (Great Britain and Ireland), North Channel ...
and
Malta
Malta, officially the Republic of Malta, is an island country in Southern Europe located in the Mediterranean Sea, between Sicily and North Africa. It consists of an archipelago south of Italy, east of Tunisia, and north of Libya. The two ...
) 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