Capita buys PwC Channel Islands’ trust operation

Capita buys PwC Channel Islands' trust operation

Support services giant purchases PwC Channel Islands' trust administration business for nearly £13m

PricewaterhouseCoopers Channel Islands’ trust administration business has
been purchased by support services giant Capita for £12.75m.

PwC in the Channel Islands provides trust formation and admin services,
including the provision of corporate trustees, and maintaining bank accounts and
investment portfolios.

The firm posted £2m operating profit for the year end 30 June 2007, from a
turnover of £4.8m.

‘We believe this option provides excellent prospects for the business and the
people to grow and develop in the future,’ said PwC Jersey senior partner Philip
Taylor.

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