ZEDRA, the rapidly expanding global specialist in trust, corporate and fund services has announced the acquisition of Interben Trustees in Guernsey. The move will significantly enhance ZEDRA’s international pension and employee benefits portfolio and at the same time, it gives the group an important entry point into the dynamic Nordic institutional market for employee benefits products and services.
Interben provides trustee and administration services to multinationals to support their international pension plans. Interben can trace its roots back to 1987 and has strong links to the Nordic market Current owners Storebrand (Norway and in Sweden via its subsidiary SPP) and Mandatum Life Insurance (Finland) are leading pension providers in their respective countries. The acquisition of Interben provides ZEDRA with valuable routes into the Norwegian, Finnish and Swedish markets.
Storebrand (Norway), SPP (Sweden) and Mandatum (Finland) will continue to work with Interben and going forward more widely to provide solutions to their multinational clients.
Commenting on the purchase, Ivo Hemelraad, ZEDRA group director corporate, funds & legal in charge of the acquisition said, “Guernsey is an important hub for us, from where we are able to offer global clients employee benefits, pensions and associated administrative services. Interben’s team bring a wealth of new experience and high level expertise and I am delighted to welcome Interben’s Guernsey team and clients of Interben Trustees to ZEDRA”.
Geir Holmgren, CEO of Storebrand Livsforsikring AS, said on behalf of Storebrand, SPP and Mandatum, "We will continue to work with Interben as part of our services to Nordic Multinationals and in addition we are looking forward to working with the ZEDRA Group in the future enabling us to offer a wider range of services to our clients".
Nick Slinn, CEO of Interben adds, “We are delighted to be joining the ZEDRA Group with its established global network and client base and we look forward to becoming a part of ZEDRA as it continues to grow. We are confident that our long standing international pension's industry experience in the Nordic Market is a perfect fit with ZEDRA’s international employee benefits portfolio.”
The acquisition is subject to local regulatory approval. Interben’s existing staff will all join the ZEDRA Guernsey office.