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IPG secures five Bahamas Executive Entity contracts in four months

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International Protector Group (IPG), a trust and estate planning consultancy, has secured a series of five Bahamas Executive Entity (BEE) contracts within the first four months of launching its BEE service.

The contracts have included the first three BEEs to have been established worldwide since the Government of The Bahamas announced the Bahamas Executive Entity earlier this year.

The new IPG contracts are with client trusts in a spread of geographical locations including the US, Latin America and the UK.

The BEEs have been arranged in conjunction with a range of professional and institutional advisers including legal, financial and banking organisations. The flexibility and versatility of the new Act has been underlined by the fact these early BEEs have been established to serve various functions including owning a private trust corporation, owning management shares in a mutual fund, acting as a protector and owning a corporate investment adviser.

Andrew Law (pictured), chief executive officer of IPG, says: “We are extremely pleased with the early take-up of this important new instrument for HNWI structuring. This sector is growing very rapidly and many high net worth individuals still don’t know that our kind of offering is available to them. We are seeing a lot of interest coming from Latin America, The challenge is now to capitalise on that interest. We are able to differentiate ourselves in the market by providing very exciting alternative solutions in the world of wealth management.”

IPG now has under its supervision more than USD1.5bn in assets. In May this year, the firm opened its new Swiss office, expanding its management team with the appointment of trust specialist Kevin Clerey as managing director.

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