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Bank Cainvest buys Dartley Securities

Cainvest Bank and Trust Ltd today announced it has acquired Dartley Securities Business from Bahamas-based Dartley Bank and Trust Ltd. As part of the acquisition process, Dartley Securities Ltd, a securities company regulated by the Securities Commission of The Bahamas, is now 100 per cent controlled by Bank Cainvest. 

Source:
Date:
Updated:
Cainvest Bank and Trust
Friday, January 6, 2017
Wednesday, February 1, 2017

ALT TAG HEREGEORGE TOWN, Cayman Islands, Jan. 6, 2017 /PRNewswire/ — Cainvest Bank and Trust Ltd (“Bank Cainvest”) today announced it has acquired Dartley Securities Business from Dartley Bank and Trust Ltd. (“Dartley”).

As part of the acquisition process, Dartley Securities Limited, a Securities Company regulated by the Securities Commission of The Bahamas, is now 100% controlled by Bank Cainvest. Furthermore, all the accounts at Dartley Bank and Trust Ltd. were closed prior to December 31, 2016 and with the acquisition Dartley Bank is exiting and closing its private banking activities.


The acquisition was approved by the Cayman Islands Monetary Authority, the Central Bank of the Bahamas and the Securities Commission of the Bahamas. This acquisition is part of the continuous progress of Bank Cainvest to expand its international financial division. Financial terms are not disclosed.

William E. Whitaker, Managing Director of Dartley Bank and Trust:
“We are glad with the acquisition by Bank Cainvest, ensuring a smooth transition and continuity for both clients and employees. The exit of the international private banking activities is in line with Dartley’s partners focus on business activities in Brazil.
We would like to take this opportunity to thank the Central Bank of the Bahamas for our long lasting and successful presence of more than 20 years in the Bahamian banking business.”

Charles Aboulafia, Chief Financial Officer of Bank Cainvest
“The acquisition of Dartley’s business will generate many synergies with Bank Cainvest and I look forward to welcoming clients and employees to our organization. The acquisition also created the opportunity to expand our Bank’s physical presence to The Bahamas, a leading financial centre recognized by its integrity, stability and professionalism.”

About Dartley Bank and Trust
Dartley Bank and Trust Ltd. is headquartered in The Bahamas. Dartley has held a banking and trust license issued by Central Bank of The Bahamas since 1992 offering high-end banking and trust services for high net worth individuals.

About Bank Cainvest
Cainvest is part of the Cohab/Aboulafia Group, which began operations in 1961 with the founding of Trisoft Group in Brazil, now the largest manufacturing group of processed polyester of Latin America. For more information on Trisoft, please visit www.trisoft.com.br.

The Group first expanded into financial services in 2006 with the launch of Cainvest International S.A. and has acquired in 2010 the totality of shares of Sul America International Bank (Cayman) Ltd, founded in 1994. In 2015, Bank Cainvest acquired the totality of shares of Intertrust Bank, a market leader in servicing offshore banks in the Cayman Islands. Bank Cainvest has merged with Intertrust Bank creating Cainvest Bank and Trust Ltd. and is headquartered in the Cayman Islands. The bank offers high-end banking services for High-Net-Worth individuals, external asset managers and institutional banking clients. For more information on Bank Cainvest, please visit www.cainvest.com.

The streets of Nassau came alive with dancing and the sound of cowbells as the annual New Year’s Day Junkanoo parade wound its way through downtown. See pictures of the colourful cultural event here.

The Grand Bahama Chamber of Commerce held its first meeting of its new board of directors January 4, where the new slate of business leaders reviewed its work of the past year and began to lay out its plans for 2017.

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