Bermuda’s Clarien Group, which serves ultra high net worth individuals, families and corporations globally, has unveiled Clarien Bank - formally Capital G Bank – following the merger of the two firms late last year.

Bermuda’s Clarien Group, which serves ultra high net worth individuals, families and corporations globally, has unveiled Clarien Bank - formerly Capital G Bank - following the merger of the two firms late last year.

(Capital G agreed on December 31 to amalgamate with Clarien Group, a wholly-owned subsidiary of CWH. At the time, the firm announced continued growth plans to develop its business domestically and internationally as a leading offshore financial institution.) 

The newly-launched Clarien Bank will offer products and services in corporate and investment banking, wealth and asset management. The firm will also continue Capital G Bank’s expansion in the areas of M&A advisory, structured finance, brokerage, capital raising and listings, as well as the development and distribution of investment products.

Additionally, Clarien Bank will offer securities distribution, market making and underwriting capabilities through its investment banking arm.

“This in turn, will provide the bank with greater access to a broader institutional and qualified investor universe,” the firm said.

Zoran Flotak and Ian Truran, co-chief executives of Clarian Bank, are both founders of Clarien Group.

Fotak has held senior positions at Credit Suisse Securities, Merrill Lynch, RBC and St George Asset Management. Truran, a Bermudian national with detailed knowledge of the local and international banking industry, is formerly of Butterfield Bank.

“As confidence levels in capital markets continue to increase, on the back of a global economic recovery, we are well positioned to execute international transactions with more efficiency in a secure jurisdiction. Furthermore, the emergence of a new generation of highly entrepreneurial, ultra high net worth individuals is challenging the traditional offshore banking model, with clients increasingly demanding a more sophisticated full-service offering,” the pair said in a joint statement.

In March, Paul Finn was appointed as executive vice president of wealth management in Bermuda at the former Capital G Bank, as the firm looked to grow its international footprint. In this newly-created role, he reports to Fotak.

Clarien Bank is licensed to conduct banking, investment and trust business by the Bermuda Monetary Authority through its subsidiary companies.