Leading international bank and trust company Deltec Bank and Trust Limited confirmed yesterday that it has executed a share purchase agreement (SPA) for the purchase of Ansbacher (Bahamas) Limited, the oldest private bank in The Bahamas. The completion of the acquisition is subject to regulatory approvals, which are expected in the coming weeks.
“AF Holdings has taken the strategic decision to divest its interest in Ansbacher, in order to focus on other investments and business interests in The Bahamas,” said Andrew C. Alexiou, managing director, Ansbacher.
“The decision to divest Ansbacher does not impact any other AF Holdings entities or investments,” noted Alexiou.
Ansbacher joined the AF Holdings family more than a decade ago. During that time, Ansbacher has become one of the foremost private banks in The Bahamas, building and maintaining employee and customer trust through its commitment to integrity and the highest professional and industry standards. Deltec’s acquisition of Ansbacher is aligned with its strategy to add scale, reach and capabilities, solidifying its position as a leading international bank.
“We pride ourselves in offering unique value to our clients with innovative financial services, grown on traditional roots. The imminent acquisition enables us to expand our reach and capacity, as we continue to invest in the future of banking, through leveraging our combined expertise, network and services,” said Odetta Morton, chief executive officer of Deltec.
Morton noted that this latest acquisition will also result in greater product innovation, bringing unique, highly valued services to its clients.
“The acquisition brings together two companies with deep knowledge and expertise to create not only one of the largest international banks in The Bahamas and Caribbean, but a globally focused bank, one that creates even more client value, delivering consistent performance,” concluded Morton.
Under AF Holdings’ ownership, Ansbacher has enjoyed management of over $7 billion worth of assets, offering unique long-term solutions that ensure asset protection and estate planning for future generations.
“Ansbacher’s board of directors and shareholders have full confidence that Deltec is well-placed to lead Ansbacher to the next phase of success, continuing to deliver exceptional performance with integrity and professionalism and working together to play its part in The Bahamas’ economic success,” said Alexiou.
Deltec Bank & Trust Ltd. is a leading financial hub for global investors, financiers and entrepreneurs. The private and corporate bank offers its clients a unique suite of bespoke financial solutions, institutional expertise and highly attentive service with an aim toward creating a network of opportunities to enhance client wealth. Deltec Bank & Trust Ltd. is the flagship company of the Deltec International Group, a diversified, independent financial services group providing a range of financial services including fund administration, corporate advisory, merchant banking, global insurance and digital asset solutions.
For more information on Deltec Bank & Trust, please visit the company’s website at https://www.deltecbank.com.
Ansbacher is a leader in private wealth management that caters to the financial well-being of an exclusive clientele of high-net-worth individuals, corporations and institutions. Since 1957, Ansbacher has successfully provided unique long-term solutions that ensure asset protection and estate planning for future generations. Its aim is to preserve and build its clients’ wealth. Ansbacher works exclusively with high-net-worth individuals and corporations. Such partnerships have been nurtured for more than 60 years and Ansbacher’s team of highly skilled, competent professionals endeavor to maximize its clients’ wealth. Ansbacher’s team includes multilingual experts who service its multinational clients. Learn more about Ansbacher at https://www.ansbacher.bs.
