Nedcor / fleming offshore banking

Nedcor is a historic client for the banking group at Theodore Goddard, where partner Dave Wilson manages the relationship. But this is one of few corporate deals for the client in the UK, and one of the first for corporate partner Martin Chester.

Fleming Offshore operates from the Isle of Man and Jersey, and will be renamed Gerrard Private Bank, extending the Gerrard brand owned by Nedcor’s parent company Old Mutual.

Theodore Goddard called in firms in both the Isle of Man and Jersey to help out on the deal, namely Voisin & Co in Jersey and Simcocks in the Isle of Man. Corporate partner Andrew Rosling worked with Chester, as did Simon Currie on regulatory matters.

Theodore Goddard communicated with Norton Rose, which acts for Old Mutual, throughout the deal. And although this acquisition is being made by Nedcor, Old Mutual will take a stake in the new company once the deal is completed.