Crestbridge has received regulatory approval for the acquisition, making Ohad Trust a part of the group with immediate effect.
The acquisition adds to Crestbridge’s offices in Jersey, London, Luxembourg and the Cayman Islands.
Ohad will be fully rebranded as a Crestbridge branch later in 2017. The office will continue to be run by executive director Graham Journeaux and director Naser Obaid.
Obaid said: “We have worked very successfully with the team at Crestbridge over the last few years and see this initiative as a very exciting opportunity for us and for the region. Crestbridge is a highly-regarded service provider in the region and brings a great deal of knowledge and expertise combined with a broad service range.”
Paul Perris, group managing director of Crestbridge, added: “The Middle East is strategically important and having on the ground capability in Bahrain enables us to continue to add value to clients who require increasingly sophisticated support in relation to their local and international assets.”
When it was founded in 2005, Ohad became the first licensed provider of trust services in Bahrain as it obtained its Ancillary Services Provider licence.