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Boal & Co announced as new trustee provider of choice for Zurich International Life

| June 12, 2014 | 0 Comments
Boal & Co

Boal & Co is today unveiled as the new trustee provider of choice for Zurich International Life’s (Zurich) market-leading corporate International Pension Plan business.

The announcement comes after a tender process, extending to three offshore jurisdictions, to identify an independent trustee with proven international experience that Zurich is confident to introduce to its corporate International Pension Plan customers.

Zurich will now introduce Boal & Co to those customers requiring a Trustee to help with the set-up of a corporate pension plan that can not only be tailored to meet the specific needs of the sponsoring employer, but also benefit from the high standard of independent governance and oversight provided by a trust arrangement.

Boal & Co’s multi-jurisdictional range of pension schemes, along with its record of innovation and technical excellence, has attracted the support of financial advisers throughout the world, to the extent that Boal & Co now has pension assets under trust in excess of $1.8 billion.

The combination of two market-leading providers enhances the Isle of Man’s worldwide reputation as a centre of excellence for international pension plans. The Isle of Man has seen an explosion in growth of global companies choosing the Island as their preferred jurisdiction with a key decision-making factor being the unique supportive regulatory structure offered by the Isle of Man and the proactive adoption of FATCA through agreements with both the US and the UK.

Boal & Co Director and Head of Pensions, Mark Kiernan, commented:

‘We are delighted to be working closely with such a renowned global brand as Zurich and it is a significant endorsement of the way our business has developed in recent years. It’s also a great result for the Isle of Man, and endorses the work done by the Isle of Man Government over recent years to help develop this international proposition.

‘In the corporate market, we now provide international pension plan solutions to 14 FT “Global 500” companies as well as some of the world’s largest privately owned companies, with international pension fund members in over 110 countries – and growing fast.’

Boal & Co Director and Senior Consultant, Karen Kelly, added:

‘The proposition will extend to new corporate plans for multinational companies in locations around the world* looking for solutions for their globally mobile employees. Working closely with the Isle of Man-based Zurich team, clients will deal direct with us once the introduction is made, with Boal & Co taking on all trustee work following the launch of the plan.

‘To support the continued success of Boal & Co in the corporate pension plan market, we are in the process of recruiting new members of staff, bringing us up to a 25-strong team, further demonstrating our commitment to the sustainable growth of Boal & Co in the Isle of Man.’

Nigel Simpson, Head of Zurich Corporate Savings International within Zurich International Life, said: ‘We are delighted to be working with Boal & Co as our new corporate trustee provider of choice, and to be working so closely with another market-leading Isle of Man based company. Our previous experience of working together has been extremely positive, with Boal & Co demonstrating high quality independent trusteeship and customer-focused solutions, justifying their widely respected market reputation. We look forward to developing the relationship in support of Zurich’s ambitious growth plans for our market leading and award-winning International Pension Plan proposition.’

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Category: Finance & Business

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