Appleby Trust in the Cayman Islands has acquired Ansbacher’s Cayman Islands business. Terms of the transaction were not disclosed. Apple...

Appleby Trust in the Cayman Islands has acquired Ansbacher’s Cayman Islands business. Terms of the transaction were not disclosed.

Appleby said the acquisition represents the natural extension of an agreement between the two more than a year ago, when Ansbacher in the Cayman’s appointed Appleby to manage its trust and fiduciary business.

“We have worked closely with Appleby to ensure a smooth hand over. Our interests in the Caribbean now focus on our Bahamas business which complements our operations in Europe and the Middle East,” said Hugh Titcomb, Ansbacher's chief executive, in a statement.

Appleby is part of the Bermuda-based Appleby Spurling Hunter, one of the largest offshore legal and trust companies.