Farah Ballands to lead MBO of Appleby’s fiduciary business, AFB

Appleby has announced the management buyout of its fiduciary business (AFB) for an undisclosed sum The deal is funded by private equity firm Bridgepoint.

Partner and Global Group Head of Fiduciary, Farah Ballands, who will become Chief Executive of the independent fiduciary business, said:

“The management team is delighted that we will be partnering with Bridgepoint. With Bridgepoint’s support and expertise in growing businesses successfully, we will be able to develop a greater range of products and services for our clients. The Appleby Group has provided us with a solid foundation and enabled us to grow to the size, reach and scale that we enjoy today, but now is the right time to accelerate our growth plans.”

Appleby’s Group Managing Partner, Michael O’Connell, who will continue to lead the law firm post-completion commented:

“This is an exciting development for Appleby. The transaction will enable two strong businesses to grow and prosper independently, whilst remaining close where it suits the needs of clients.