ZEDRA to acquire Caledonian Trustees

Active wealth, global expansion and fund services specialist, ZEDRA, is set to acquire professional pension trustee firm, Caledonian Trustees, for an undisclosed amount, subject to regulatory approvals.

The deal builds on ZEDRA's 2021 acquisitions of Inside Pensions and PTL, with Caledonian to sit alongside and report through PTL until both are fully integrated within ZEDRA “in the coming months”.

ZEDRA also reached an agreement to acquire BNP Paribas Jersey Trust Corporation earlier this year, after acquiring BNP Paribas Singapore Trust Corporation in July 2020, which is now fully integrated and renamed ZEDRA Trustees (Singapore) Limited.

This latest acquisition aims to "further cement" the company's offering and capabilities, particularly within the pensions governance sector, according to ZEDRA chief executive officer, Ivo Hemelraad.

Commenting on the news, Hemelraad said: “As the UK regulatory system has become increasingly complex over recent years, so too has the challenge of running a pension scheme - regardless of size, for employers and trustees alike.

“Add to this the pressure being applied by the Department for Work and Pensions and The Pension Regulator, it is no surprise that the number of pension schemes requiring additional support continues to grow.

"We recognised this some time ago and, over the last few years, we have planned our expansion to ensure we were well equipped to support schemes in meeting these challenges head on.”

“This deal further cements our offering and capabilities and is in line with the strategic approach we are adopting in the UK market, and the pensions governance sector specifically."

Caledonian Trustees managing director, Brian Doherty, added: “The PTL and ZEDRA teams have cemented a great reputation in the market, with strong cultural values and work ethics.

"This makes it a perfect fit for Caledonian and its clients - we look forward to the collaboration.”

PTL managing director, Richard Butcher, also highlighted the deal as “a great acquisition for the team,” emphasising that Doherty has “done really important work with his list of blue-chip clients and we look forward to working with him, and them”.

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