Mourant advises NCB Financial Group on strategic sale of Cayman Islands banking business
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Our Cayman Islands Corporate and Regulatory teams recently acted for members of the NCB Financial Group on a strategic intra-group restructure which forms part of the Group’s efforts to optimise its business structure and align related business activities.
The transaction involves the sale by National Commercial Bank Jamaica Limited of its wholly-owned subsidiaries, NCB (Cayman) Limited and NCB Trust Company (Cayman) Limited, to Clarien Bank Limited, and the linked sale by NCB Capital Markets (Cayman) Ltd. of a defined portfolio of wealth and investment management client relationships. The deal is subject to certain closing conditions and regulatory approval.
Our Corporate team was led by Partners Tom McLaughlin and Catherine Pham, supported by Associate Paris Goode and Paralegal Charmaine Yu. Specialist financial services regulatory advice was provided by Partner Sara Galletly and her team.
“We were pleased to support our clients on this important strategic internal realignment. This is a great example of the way our corporate and regulatory experts are able to closely collaborate to provide integrated advice on complex cross-border share and asset-sale transactions, particularly those involving regulated financial services businesses.”
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Catherine Pham
Sara Galletly
Tom McLaughlin
Paris Goode
Corporate and M&A
Fund Regulation, Tax and Governance
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