The Sloane Protectors Inc. (“Sloane”) was established in 1993 as a Bahamas based corporate entity and now serves as Protector to over 100 trusts and foundations domiciled in mainly Bermuda, Barbados, Bahamas and the Channel Islands.
Serving as Protector for trusts and foundations is what the Company specializes in; it is it’s sole metier. When company has singular focus, it tends to excel and Sloane is an excellent example of this, being the choice of significant families for their trust and foundations located in jurisdictions such as the Bahamas, Bermuda, the Cayman Islands and the Channel Islands.
Sloane’s staff have worked with trusts for over 25 years and served with various well respected trust companies giving us practical and not just theoretical insight into how trusts (and trustees) ought to perform. We are wholly independent without any affiliation to any banking or trust group giving us the unique ability to act, as any protector by defintion should, with unfettered independence, with the best interests of the beneficiaries in mind according to the terms of the trust. Guided by with the intentions of the settlor foremost in mind.
Our services are as follows:
- As sole Protector for a trust or foundation
- As Co-Protector, serving with a non-corporate Protector (typically a family member or friend of the family)
- As successor Protector
- As “enforcer” (read; protector) for a Purpose Trust
Every trust is different but our duties tend to be in providing consent, or declining consent, to any action of the trustees that requires approval by the Protector. In the main;
- Add or delete beneficiaries
- Change the domicile of the trust
- Remove a trustee
- Replace a trustee with a successor trustee
All of these powers are negotiated by Sloane at the time of its appointment as Protector. Note that Sloane will not accept such an appointment in the instance where the trust deed defines the Protector role as being fiduciary in nature.
In May 2011 Sloane was acquired by Mid-Ocean Holdings Ltd. Mid-Ocean Holdings Ltd., (the parent company of Mid-Ocean Consulting Ltd.).
“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 settler 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 settler’s lifetime”.
As a result, Sloane stands ready to act as a uniquely independent and experienced Protector for new or existing trust or foundation.
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