On the scene for about five years now, private trust companies (PTCs) are growing in importance to trust and fiduciary service providers in The Bahamas, with a local trust services provider saying they are leading business growth.
“It’s probably our number one growth area in the trust business, and it certainly looks likely to be that way this year too,” Julien Martel, director and head of trust and fiduciaries services at Butterfield Bank (Bahamas) told Guardian Business on Wednesday.
A private trust company is formed to act as trustee for a specific trust or group of trusts, but cannot offer trustee services to the general public. Under traditional trust structures, ind ...

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