Peregrine Guernsey Limited, a subsidiary of South African wealth manager Citadel Investment Group that manages its offshore funds in Guernsey, has appointed Northern Trust to provide global custody and fund administration services.
Northern Trust will administer assets totalling around $725 million from its Guernsey office. The mandate adds to a growing client base in the Channel Islands, where Northern Trust also provides depository, credit and fiduciary services.
Hennie Esterhuizen, managing director of Peregrine Guernsey, said: “We appointed Northern Trust based on their expertise and understanding of our unique business needs.”
He added: “As Guernsey’s largest fund administrator and custodian, it distinguished itself with its capabilities to support our core requirements and future development plans.”
Belinda Burgess, head of Northern Trust in the Channel Islands, said: “Guernsey is a top-tier international finance centre that benefits from a robust regulatory and compliance regime, and we are pleased to offer a solution to help Peregrine Guernsey Limited achieve their objectives as its servicing provider in Guernsey, and look forward to developing our mutual strategic goals in the future.”
