A joint venture offering trust services to corporate and ultra high net worth clients in the Middle East was officially launched.

Two Seas Trust was set up by Keypoint, a leading independent accounting and advisory services firm based in Bahrain and Ogier, one of the largest providers of offshore legal and fiduciary services.

The official launch of Two Seas Trust was celebrated at the Ritz-Carlton Bahrain, Hotel and Spa and was supported by Ogier chief executive officer Nick Kershaw and other partners, who travelled from Jersey for the event and senior management of Keypoint.

The event was attended by more than 100 guests from Bahrain's financial and business community.

'Bahrain provides the perfect base to offer world-class trust and related administration services to the region,' said Mr Kershaw.

'The combination of Keypoint's local knowledge and Ogier's international experience has already enabled Two Seas Trust to develop trust-based products for the benefit of a wide variety of Middle Eastern based families and businesses.'

'Since receiving our licence from the Central Bank of Bahrain in September last year, we have received a number of encouraging enquiries from Saudi and the UAE based clients,' said Two Seas Trust managing director Paul Perris.

'We are currently working on some very exciting initiatives and notwithstanding the nervousness due to the current worldwide financial crisis remain very optimistic about the development of trust based products.

'One of the benefits of setting up an office in this economic climate is that there is particular focus on corporate governance and succession planning initiatives and the launch of Two Seas Trust and our commitment to develop products for these purposes is, I think, very timely.'

Two Seas Trust operates from the 24th Floor of the NBB Tower.-TradeArabia News Service