Company Ltd., formerly Zena Trust Ltd., will take on a broader focus, said the company's chairman, Mr. Donald Lines.

But St. George's Trust, licensed on July 18, retains a very specific and very private flavour related to the business of its select owners, said the former Bank of Bermuda president and CEO.

"It is a personal trust service of a very specific kind. It is for large family fortunes,'' he said.

Prior to the addition of international clients, the company, incorporated in 1970, serviced the needs of family trusts.

Forty percent of St. George's Trust is now owned by three unnamed entities; a Hong Kong investment operating group, a US-based financial advisor with UK operations and a life and trust group interest located in Canada, said Mr.

Lines.

It is from this triad that the new trusts are and will be generated, he said.

"We have a business plan that suggest the assets will be quite large,'' he said. "The first eight or nine trusts are in place with more waiting,'' he said.

Mr. Lines, and business associate Ms Susan Wilson, own 30 percent of St.

George's Trust while Lines Overseas Management Ltd., owns 30 percent.

There is a synergy between the trust company and other interests of Mr. Lines, specifically company management specialist LOM and Mill Point Ltd., an investment management brokerage firm, he said.

LOM and Mill Point can support St. George's easily without an immediate increase in overhead, he added.

Mr. Lines is chairman of LOM and president of Mill Point.

St. George's Trust is currently advertising for a lawyer with extensive trust company expertise to fill the position of company president.

The company, started with three Bermudian shareholders, predates public licensing legislation.

Principals chose to change the name because they thought the new name had more of a Bermuda flavour and gave the entity more character, said Mr. Lines. The name was officially changed on February 9, 1995.