Professional services firm Mourant said it advised members of NCB Financial Group on a transaction to sell parts of its Cayman Islands banking operations as part of a wider internal restructuring.
The deal involves the sale by National Commercial Bank Jamaica Limited of its wholly owned subsidiaries, NCB (Cayman) Limited and NCB Trust Company (Cayman) Limited, to Clarien Bank Limited. The transaction also includes the sale by NCB Capital Markets (Cayman) Ltd. of a defined portfolio of wealth and investment management client relationships.
The transaction forms part of a strategic effort by NCB Financial Group to optimise its business structure and align related activities within the group. Completion of the deal remains subject to regulatory approval and other closing conditions.
Mourant’s corporate team advising on the transaction was led by partners Tom McLaughlin and Catherine Pham, with support from associate Paris Goode and paralegal Charmaine Yu. Regulatory advice was provided by partner Sara Galletly and her team.
McLaughlin said the transaction reflects the type of cross-border share and asset sales often required in the regulated financial services sector.
“We were pleased to support our clients on this important strategic internal realignment,” McLaughlin said in a statement.
