Ludlow Trust has acquired HSBC Trust Company (UK) Limited (HTCU) from HSBC UK Bank plc in a deal that further cements its position as a large provider of onshore trust services in the UK.

The acquisition is part of Ludlow Trust’s ongoing strategy of expanding through bank trust service integrations. The firm has previously absorbed trust operations from NatWest, RBS, Coutts & Co, and C. Hoare & Co.

With this latest move, HTCU staff will join Ludlow Trust, and the business will be rebranded as Ludlow Trust Company (Southampton) Ltd, relocating to new offices at Yarmouth House, Solent Business Park in Whiteley.

Ludlow Trust CEO Matthew Wickers hailed the acquisition as a key milestone.

Wickers stated, “This latest opportunity underscores our commitment to growth and excellence in the UK trust market. We are pleased to welcome the talented staff and valued clients of HSBC Trust Company into the Ludlow group.”

He added: “Our client service ethos, combined with our advanced systems and expertise in this complex market, will help to ensure a seamless transition for both clients and staff to Ludlow.”

James Hewitson, CEO of HSBC Trust Company UK, described the deal as a strategic step for HSBC.

He shared: “I’m pleased to have reached agreement with Ludlow Trust to acquire HSBC Trust Company, a move which will provide customers with stability and expert service for years to come.  The decision reflects HSBC’s strategic focus on simplifying the business.  We will work closely with Ludlow Trust over the coming months to ensure a smooth transition for customers and colleagues.”

With this latest acquisition, Ludlow Trust solidifies its position as the UK’s primary onshore trust services provider, reinforcing its expertise in trust administration for private clients and the charitable sector.

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