Appleby Fiduciary Business is to change its name to Estera following a management buyout.

The new name for the company, which separated from its parent law firm last December, was inspired by a staff competition.

Rory Gorman, group managing director of Estera, said: “For nearly 60 years, we have provided corporate administration and private client services to successful companies and individuals around the world.

“Our rebrand presents a significant opportunity to build on the reputation we have established through our breadth of knowledge and deep experience in the industries in which our clients operate.”

The global corporate, trust, funds and accounting services company, which employs around 350 staff across ten jurisdictions, is led by chief executive officer Farah Ballands.

Ms Ballands said: “We’re delighted and proud to launch Estera and have the opportunity to build on the strong heritage and culture we have developed.

“Our new brand and independence provides a solid platform for growth, including strategic investment to align our systems and procedures to deliver a consistently quality service to our clients.”