International trust and corporate services provider Equiom has sold a majority share of its company to Alcentra, a European-headquartered credit and private debt manager, and has appointed a new chair.
Alcentra will be the majority owner of the firm following the receipt of all regulatory approvals for the transaction, the sum of which is undisclosed. The new ownership will accelerate the delivery of Equiom’s strategic plans, according to the company, as well as focus on investment in people and boost technology and operating capabilities.
Farah Ballands has been appointed as the new chairperson of Equiom, having previously been CEO of Ocorian, a provider of financial services, until March last year.
Alex Walker, MD, Alcentra said: “We know that Equiom is a business built on trust, which we will put at the heart of the strategy going forwards.”
Farah Ballands, incoming chairperson, Equiom said she looks forward to helping “steer the company through its next phase of growth. Equiom has great opportunities ahead, with supportive new owners and an exciting plan to deliver value for its clients and its people.”
Ballands is a lawyer by training and was a partner of international law firm Appleby, where she led the global fiduciary and administration practice from 2003 until 2015. She also led the private equity backed management buyout from Appleby in 2015, which then went on to become Estera.
