Independent trust, fund and corporate services provider Crestbridge has established a presence in the GCC following its acquisition of Ohad Trust, a Bahrain-based trust, fund and corporate services provider in Manama.
With regulatory consent having now been received from the Central Bank of Bahrain, Ohad has become part of the Crestbridge Group, which also has complementary offices in Jersey, London, Luxembourg and the Cayman Islands.
A full rebranding of Ohad is planned for later in 2017 to bring the business fully under the Crestbridge brand.
Ohad was the first licensed provider of trust services in Bahrain when in 2005 it obtained its Ancillary Services Provider license and is the market leader in the provision of Private Investment Undertakings (PIUs). A highly-regarded provider of Shari’a compliant and Islamic Finance products such as Sukuk, Ohad has an experienced team many of whom are professionally qualified in Islamic Finance, complementing Crestbridge’s qualified existing team.
Paul Perris (pictured), group managing director, says: “This is a significant achievement in delivering our strategy to provide a wider range of services to our clients and demonstrates Crestbridge’s continued commitment to the region. As a leading independent provider of trust, fund and corporate services to UHNW and institutional clients we are delighted to add Bahrain to our network of jurisdictions. We welcome the team from Ohad which has a wealth of experience of operating in the region spanning almost 15 years. The Middle East is strategically important and having on the ground capability in Bahrain enables us to continue to add value to clients who require increasingly sophisticated support in relation to their local and international assets.”
Graham Journeaux and Naser Obaid will continue to lead the Bahrain office, which consists of more than ten staff and will be supported by staff transfers from the Crestbridge Group.
Obaid says: “We have worked very successfully with the team at Crestbridge over the last few years and see this initiative as a very exciting opportunity for us and for the region. Crestbridge is a highly-regarded service provider in the region and brings a great deal of knowledge and expertise combined with a broad service range.”
Crestbridge’s new office is located at the Bahrain World Trade Centre, Manama.
