Just over 18 months after re-establishing its trust administration team in the jurisdiction, Deutsche Bank in Cayman has been recognised for its trust and succession planning expertise in the highly respected Euromoney 2015 Private Banking Survey.

Following comprehensive research undertaken by Euromoney, the results of which are published this month, the Bank was awarded the accolade of ‘Best for Succession Planning, Advice and Trusts’ in the Cayman Islands.

Providing a qualitative and quantitative review of the best services in private banking, by region and by areas of services, the survey is considered the benchmark for the global wealth management industry and reflects the opinions of private banking professionals across the globe. The results of the survey form the basis of the Euromoney Private Banking Awards, which were held on 12th February at Plaisterers Hall in London.

The success comes after Deutsche Bank strengthened its trust capabilities for private clients in the Cayman Islands in 2013 by re-establishing a trust administration team in the jurisdiction. The Private Client Trust Administration Centre supports Deutsche Bank’s long-established Cayman trust company, whilst the private client trust business forms part of Deutsche Bank’s Asset & Wealth Management Division and falls under its Global Trust Solutions banner.

Stuart Bray, Head of Global Trust Solutions for Deutsche Bank in the Cayman Islands, said:

“When we re-established the administration centre in 2013, it represented an exciting opportunity for our Cayman trust business, so it is extremely pleasing that now we are seeing that becoming a reality. The business is evolving with a growing team and more than 350 client entities now repatriated to Cayman, and we are now recognised by our peers as the best in the region. The team in Cayman is strategically well placed to service both existing and future private clients, whilst we continue to see particular growth in the Americas where Cayman trust structures remain highly popular with Deutsche Bank’s global client base for multi-jurisdictional wealth and succession planning.”

Janet Hislop, Chief Country Officer of Deutsche Bank in the Cayman Islands, added:

“Having had a presence in the Cayman Islands for more than 30 years now, Deutsche Bank remains fully committed to the jurisdiction and is continuing to build on its range of specialist services. We are currently seeing growth across the range of services we offer our client base, which includes asset managers and service providers, trust companies, family offices, corporates, pension funds and law and accountancy firms across the Caribbean and the US, and I am delighted that our private client, trust and succession planning expertise is now considered by these rankings to be the best in a jurisdiction that is seeing rapid growth in this area.”