Following a comprehensive strategic review of the Walkers Group, Walkers has sold its management services business to Intertrust Group Holding S.A. (“Intertrust”).

Walkers Management Services provides corporate, fiduciary and company secretarial services from the world’s leading financial centres – the Cayman Islands, Delaware (USA), Dubai, Dublin (Ireland), Hong Kong and the British Virgin Islands. Walkers Management Services is headquartered in George Town, Cayman Islands, and currently employs over 100 employees.

Diarmad Murray, Walkers’ Global Managing Partner, said: “We are excited about the future of the law firm and the opportunities this sale creates. We are focused on continuing to provide world class legal services to our clients around the world and we will work closely with Intertrust to ensure that all work will be carried out in the same manner and by the same group of professionals”

Intertrust is a recognised global quality leader in the trust and corporate services sector, providing a broad range of commercial, legal, tax and administrative services to multinational corporations and high net worth individuals. As a combined group, Intertrust will operate with more than 1,100 people from 30 offices in 21 countries, Intertrust combines a global reach with the local knowledge and cultural understanding to serve international clients from every corner of the world.

Commenting on the transaction, Nancy Lewis, CEO of Walkers Management Services, said: “We very much look forward to joining Intertrust Group. We share a drive for quality and experience in working for the world’s most sophisticated clients. Our combined network of offices will deliver a strong foundation for further growth of our business, bringing us a sound position in all key international business locations across Asia, Europe and the Americas. This platform will allow us to provide even greater global solutions for our clients.”

David de Buck, CEO of Intertrust Group, added: “Walkers Management Services has a strong, international position in the corporate services industry; providing high quality services to top-tier clients that will benefit from Intertrust’s capabilities to service them across the globe. Through the acquisition we gain a market leading position in the Cayman Islands, one of the most important financial centres in the world, and we further expand our global network by adding offices in Dubai, Delaware and the British Virgin Islands. Walkers’ quality, experience, heritage and ambitious approach to servicing clients mirror the Intertrust culture. We look forward to working with the Walkers Management Services team and enjoying further success based on our joint capabilities.”

The acquisition is subject to regulatory approval and is expected to be completed in the coming months. J.P. Morgan Securities LLC is acting as financial advisor to WMS.