Appleby Global Services on-boards 100 structures in Bermuda in first year
Appleby Global Services (AGS), Appleby’s specialist trust and corporate services provider, has on-boarded over 100 structures in Bermuda within its first 12 months of operations, including ILS, global commercial re/insurers in both P&C and life, and captives.
AGS Bermuda will take on two more employees next month as it anticipates further growth, taking the headcount to ten. All of the AGS Bermuda team are either Bermudian or a spouse of a Bermudian.
AGS was launched in January 2019 and has offices in seven jurisdictions: Bermuda, Cayman Islands, Hong Kong, Isle of Man, Jersey, Mauritius and Seychelles. AGS Bermuda is led by Tim Faries, who serves as chairman of AGS Bermuda and managing partner for Appleby’s Bermuda office, and Tonesan Amissah, who is managing director of AGS Bermuda and a former partner at Appleby.
Faries said increasing regulatory and compliance requirements are forcing companies to seek integrated legal, fiduciary and administration services. “Appleby works closely with the AGS team of specialist administration professionals to implement customised solutions and provide clients with an efficient integrated service offering,” he said.
Amissah predicted client demand will continue to grow, particularly in the insurance sector. “We have built a technically strong and client-centric team and look forward to hiring more Bermudians in 2020 as our business expands further,” he added.