Bachmann becomes Ardel
One of Guernsey's most respected trust companies has a new identity. Ardel Holdings Limited is launched today as the new name for the Bachmann's trust and funds business.
The new name will take effect immediately and has been implemented across the majority of the group's businesses.
The name change is part of the management buy out (MBO) process which has seen around 40 of the senior management team become shareholders in the company.
Chief executive of Ardel, Gerry Williams, said that whilst the change in identity was essential to take the company forward, continuity, and the ongoing provision of excellent client service were paramount.
"The new brand is the next logical step in the MBO process. With so many of our employees now invested in the company it is natural that our identity should evolve to match our new ownership.
"This company has been built on our solid reputation for independence and expertise, which enables us to be flexible and innovative in providing solutions for our clients. We're confident that this will continue as we take Ardel forward, and will set the foundation for our 'buy and build' strategy, which will see us pursue opportunities for expansion, both in Guernsey and in other jurisdictions."
The Ardel group of companies has around 100 employees in Guernsey, and also has offices in the UK, Geneva and New Zealand.
Mr Williams added that the new name had been a democratic decision: "We involved all our senior management team in choosing a new name, and Ardel came out as the most suitable choice.
"The Bachmann brand will not disappear entirely from the island however, as elements of the business not involved in the MBO, like the payroll services companies, will keep this name."
First published on www.ifcfeed.com on 12/08/2010