News round-up: Ocorian to buy Guernsey-based fiduciary; Ogier Global expands in Asia with Singapore hub; Skybridge Capital aims to ‘green’ Bitcoin mining with carbon offsets

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Ocorian to buy Guernsey-based fiduciary

Fund administration and capital markets service provider Ocorian has announced plans to acquire Guernsey-based Trust Corporation International.

Ocorian said the purchase of the fiduciary specialist, which is subject to regulatory approval, would allow the team to provide services to private clients and international corporates in Guernsey, alongside its existing capabilities in fund administration.

Trust Corporation International has more than 50 employees at its Guernsey headquarters.

“It is tremendously good news that Trust Corporation International’s dedicated teams will be joining Ocorian,” said Frederik van Tuyll, Chairman and CEO at Ocorian. “Our combined capabilities and expertise will result in a powerful full service offering in Guernsey, from our team of over 160 professionals."

“We are a very considered acquirer and this acquisition is a strategic investment in Guernsey alongside our core and complementary service lines.”  

Ogier Global expands in Asia with Singapore hub

Fund administrator Ogier Global has grown its footprint in Asia with the opening of a new Singapore office and the appointment of two new associate directors.

The new Singapore office adds to Ogier’s presence in APAC, having opened a Hong Kong office in 2007, a Tokyo office in 2008 and an office in Shanghai in 2011.

Ogier said its new standalone fiduciary services business will provide director services and corporate administration services to Cayman, BVI and Singapore vehicles, including anti-money laundering (AML) officer and Automatic Exchange of Information (AEOI) services to clients in South-East Asia.

Mei Luo and Connie Chan have been appointed as associate directors in the Singapore office, and have a combined 35 years' experience in governance, corporate administration and regulatory and compliance practices.

"The new Singapore office is an exciting milestone for Ogier Global and represents our commitment to the Asia market. It's also an important strategic step for the business, providing us with a greater level of on-the-ground Asian coverage and insight than ever before," said Ogier Global Group COO Graham Gurney.

 "Connie and Mei are extremely qualified and talented additions to the Ogier Global team, we're delighted to have them, and I'm looking forward to seeing Ogier Global continue to excel and grow in the region."

Skybridge Capital aims to ‘green’ Bitcoin mining with carbon offsets

Anthony Scaramucci’s SkyBridge Capital has purchased and immediately retired tokens representing more than 38,000 tons of carbon, in a bid to offset the estimated carbon footprint of the bitcoin held across his investment firm.

The transaction will offset the estimated historic carbon footprint of the bitcoin currently held across its products firm-wide, said SkyBridge, including its multi-strategy funds and the First Trust SkyBridge Bitcoin Fund.

"We project that bitcoin mining will be fully renewable by the end of the decade" said Anthony Scaramucci, Founder and Managing Partner of SkyBridge. "In the interim, carbon offsets represent an effective way to green the bitcoin network and facilitate adoption by ESG-minded investors."

The manager partnered with climate tech company MOSS Earth to purchase and retire the tokens. The firm operates in the voluntary carbon offset market, and sources credits from independently verified projects that avoid deforestation that otherwise would occur. SkyBridge said it used a conservative estimate—based on MOSS calculations—to determine the number of tokens required to offset the historical greenhouse gas emissions of the mining activity.

Stephanie Taylor

Head of Event Content, HFM

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