Appleby, the offshore law firm, has acquired Caledonian Trust and Caledonian Fund Services, Europe, as part of the firm’s ongoing strategy to grow its fiduciary and administration business.

The new business will trade under the name of Appleby Fund Administration, with effect from Thursday 6 June 2013. It will operate from Appleby’s office on Athol Street in Douglas on the Isle of Man. The move will see approximately 20 staff relocate to Appleby, bringing the total headcount of its Athol Street office to 140. 

“With the recent growth across our four other regions and the decision to pursue new markets, the firm viewed this transaction as a well-timed opportunity to refocus our global strategic positioning. Our in-depth discussions with the Appleby team confirmed our initial belief that the acquisition is a positive move, not only for our respective organisations but more importantly for our clients. The strength and quality of Appleby’s existing operation made them the obvious choice and I look forward to seeing the business continue to flourish,” said Sandra Georgeson, chief executive of Caledonian, Isle of Man.

In other recent developments, last month Appleby promoted private client lawyer Marc Guillaume to the position of counsel.