Following a strategic restructure, leading fiduciary and fund services specialist Abacus, is pleased to announce the formation of the Abacus Financial Services Group.
The new group structure will include Abacus Financial Services Limited (AFSL) in the Isle of Man, and Abacus’ two entities in Malta, Abacus Financial Services (Malta) Limited (AFSML) and Abacus Corporate Services Limited (ACSL).
Former Managing Director of AFSL and AFSML, Mr Paul Kneen, will head the new group as Chief Executive Officer and Mr Martin Heaney has been promoted to Managing Director of Abacus Financial Services Limited.
Mr Kneen said: “The formation of the Abacus Financial Services Group aims to advance the growth of business across the full range of solutions provided by its respective companies and to consolidate management and responsibility of group resources in order to create synergies that support our focus of new business acquisition and growth. Having established fiduciary and fund entities in Malta to complement our service offering already available in the Isle of Man, we have positioned ourselves in two key financial centres to allow us to service both the offshore and onshore financial markets. As Abacus Financial Services Group, we will continue to develop our range of products and services within the Pensions, Funds, Fiduciary, Yachts and Aircraft industries offered from our offices in Malta and the Isle of Man.
Mr Kneen joined Abacus in 2007, prior to which he held senior management and executive board roles, overseeing banking, custodial, trust and fund services operations. Mr Kneen also currently sits on the board of a number of fund and holding company structures across a diverse range of financial investment strategies.
Mr Kneen continued: “As part of our new structure, I am delighted to announce the appointment of Martin Heaney as new Managing Director of Abacus Financial Services Limited. His appointment is well deserved and reflective of his many years of hard work and commitment to the Abacus group”.
Mr Heaney has been with Abacus for 16 years, prior to which he worked 10 years in banking on the Isle of Man with responsibilities across investments, global settlements, lending and corporate structuring. Mr Heaney has extensive knowledge of the offshore market and vast experience and understanding of Abacus’ business and the range of services offered to its international clients.
Commenting on his new appointment, Mr Heaney said: “I am honoured to have been appointed as the new Managing Director of AFSL. I am looking forward to my new role in assisting and supporting the development of the Abacus Financial Services Group as we drive the business forward into new markets across our growing client base.”
Category: Finance & Business