Sanlam Trustees International (Guernsey) Limited (STIGL) has received a fiduciary licence from the Guernsey Financial Services Commission (GFSC).
This means that STIGL is now an independently licensed provider of financial services in Guernsey.
Until now, the company was operated under a managed trust company arrangement, which meant that their management, staffing, policies and procedures were provided for by an already licensed financial services provider.
In a statement, the company said that this milestone “underscores its commitment to the highest standards of governance and compliance.”
Gael Duchenne, Group CEO of Sanlam Trustees International, said: “This milestone confirms STIGL’s ability to operate as a directly regulated fiduciary business with the governance, infrastructure and local oversight required to support sophisticated client needs”.
The already existing services and clients STIGL provided will remain in place as the company’s status is updated.
Nick Matthews, incoming Managing Director of STIGL, said: “As the business enters its next phase, we remain focused on building a high-quality fiduciary platform in Guernsey, supported by experienced professionals and a culture of client service, accountability and care”.
It comes following the launch of Sanlam Private Wealth earlier this year. The two businesses are separate, dealing with different clients, but when it is in a client’s interest the firms will collaborate.
