BCB closes merger with Paragon and Chartered
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Deal closed: The Bermuda Commercial Bank
Bermuda Commercial Bank has completed its amalgamation with Paragon Trust Ltd and Charter Corporate Services Ltd, the bank announced yesterday.
The combined entities will operate as subsidiaries of BCB under the names of BCB Paragon Trust Ltd and BCB Charter Corporate Services Ltd.
The current offices of Paragon and Charter at “Trinity Hall”, 43 Cedar Avenue in Hamilton will become the centre for Private Wealth services for BCB.
BCB chairman Michael Collier said: “We are very pleased with the completion of the amalgamation process and are looking forward to the future with our new wealth management centre at Trinity Hall.
“We are excited about expanding our private wealth business and this amalgamation solidifies our strategic positioning.”
The bank said the amalgamation would strengthen BCB’s platform and ability to deliver tailored financial solutions to the bank’s global clients.
Luciano Aicardi, managing director of Paragon and Charter, said: “Paragon and Charter are excited to be working with the entire BCB team.
“This is a great platform for all of our products and services and we will now be able to offer our clients a complete turnkey service.”
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Published Oct 5, 2011 at 8:24 am (Updated Oct 5, 2011 at 8:21 am)