Singer & Friedlander closes trust operation

Singer & Friedlander is withdrawing from the offshore trusts market. It is closing Singer & Friedlander Trust Company and referring clients to two other companies on the Isle of Man. This comes a couple of months after the break down in talks to sell the Trust Company to Anglo Irish Bank, as reported by International Investment in June. Singer & Friedlander said it could not agree terms with Anglo Irish and the breakdown was not linked to its own buyout by Icelandic bank Kaupthing. The company said that after the collapse of these talks it decided to withdraw from the market rather than f...