Mid-Ocean Holdings Ltd., the parent company of Mid-Ocean Consulting Ltd., is pleased announce the acquisition of Sloane Protectors Inc. (“Sloane”) effective May 24th, 2011.
Sloane was established in 1993 as a Bahamas based corporate entity and now serves as protector to over 100 trusts domiciled in mainly Bermuda, Barbados, Bahamas and the Channel Islands.
“Given the similarities in business lines and commercial synergies between Sloane and Mid-Ocean Protectors Ltd., it made every sense for the acquisition”, according to David Richardson, CEO of Mid-Ocean Holdings Ltd. He described Sloane as a logical stablemate to Mid-Ocean Protectors and one that speaks to the two Companies’ core competencies; namely, experienced fiduciary oversight, advice and administration. He added; “maintaining the dynamic tension between trustees and the setllor can be challenging at times, but with over 25 years experience on both sides of the equation, both Companies are uniquely qualified to serve as corporate protector, and action and arbitrate as necessary. Put another way- a new broom sweeps clean, but an old broom knows where the dirt is; having held senior positions and run trust companies in the Bahamas, Cayman and the Bahamas, our team knows how a trust should function and equally how trustees should perform; we do our level best to make sure that this is the case both during and after the settlor’s lifetime”.