Forbes Hare has announced the launch of Forbes Hare Trust Company in The Cayman Islands, in a move that will cement the firm’s reputation as a pre-eminent offshore legal and fiduciary service provider in the Caribbean region.

The firm has also formally announced the appointment of Peter Goddard as a director of Forbes Hare Trust Company to spearhead its fiduciary business in Cayman.

Mr Goddard, a former barrister, was previously managing director of Amsterdam Trust Company’s (ATC) Private Client Group in Cayman and the BVI and launched ATC’s Hong Kong office. He has extensive experience in private and commercial trusts, investment funds and corporate management and has clients as far as afield as Asia, Africa, Europe and North and South America. Most recently he was a partner with McGuire Woods LLP in London.

Well-known Cayman attorney and Forbes Hare partner, Barry Smith, joins Mr Goddard on the board of the new business. He said: “Forbes Hare is constantly looking for ways to add new dimensions to our service lines – fiduciary services were a natural progression for us due to the international profile of our client base.

“Our approach to the trust business will mirror the philosophy of the law firm, which has been built on personal relationships and building confidence, rapport and trust with our clients. We will work closely with our clients and their professional advisors to provide a bespoke trust service to suit their exact requirements and circumstances.”

Mr Goddard added: “Barry and I have been in the trust industry for many years, and between us we have over 60 years experience advising on international trust structures. We plan to put this experience to good use for our clients, and to establish the Forbes Hare name in the trust arena.”

The new business will offer a full range of trust services, including private wealth trusts for families, private trust companies, shareholding trusts for private businesses, charitable and philanthropic trusts, trusts holding commercial assets and aircraft and yacht owning trust structures. It will also offer company services including company formations, company management and secretarial services including a registered office service.

Forbes Hare is an offshore law firm based in the BVI and Cayman Islands.  It was established in the BVI in 2005 as a litigation boutique by current managing partner, William Hare, and has since become one of the largest law firms in the BVI.  In 2010 the firm opened an office in the Cayman Islands, and in 2012 it opened a third office in the City of London. The firm now has seven partners and employs approximately 40 staff.

Photo: L to R: Barry Smith and Peter Goddard, directors of Forbes Hare Trust Company.