Fairway Group, the Jersey-based independent, owner-managed fiduciary business offering trust, fund and pension services, is expanding internationally with the opening of operations in Bahrain.

Initially the new office will be used primarily to provide trust services to high net worth individuals and families, as well as provided corporate solutions. The plan is to then develop additional fund structuring and pensions facilities in due course.

Representatives from Jersey Finance group and several government officials attended the unveiling ceremony of the new office, located at the prestigious United Tower in Bahrain Bay.

The move into Bahrain comes on the back of the Fairway Group’s long and successful partnerships in the Gulf region, including with Emirates NBD in Dubai.

Dr Simon Galpin, managing director - Bahrain EDB (Economic Development Board) said: “We are delighted that Fairway Group has decided to expand its operations in Bahrain. The growing demand for sophisticated financial services and corporate solutions reflect an excellent opportunity for further growth in the sector.  Our strong regulatory environment, low costs, and one of the most educated workforces in the region make Bahrain an ideal location for companies like Fairway Group.”

Graeme Fairlie, who will continue in his current role as the Fairway Group’s international business development executive, will also take on the position as regional manager in Bahrain.

Fairlie said: “We see Bahrain as a business-friendly, competitive landscape which is the perfect place for us to build our presence in the Gulf. We are seeing increased interest in highly regulated international finance centres like Jersey, to provide additional comfort outside the GCC.”

The St Helier-based Fairway Group, which has £5.5 billion ($7.2 billion) of assets under administration and almost 100 staff, is committed to taking its expertise internationally, a company statement said.

Louise Bracken-Smith, CEO of the Fairway Group, said: “The opening of our first office outside Jersey, in such a historical location and iconic building, marks an exciting step for us which is testament to our continual development while keeping clients at the centre of everything we do.” – TradeArabia News Service