Maitland fills offshore structuring need

Merchant banking and wealth management markets worldwide are increasingly competitive, yet there remain gaps in the South African market, according to international professional services firm Maitland.

Maitland MD Steve Georgala says securitisation and offshore structuring for both the private client and corporate markets present opportunities.

The firm has recently refined its market positioning and translated its specialisation in the private client and corporate market into a new corporate identity.

Georgala says Maitland had grown organically over the past 30 years and now has over 500 staff in four divisions and 11 offices across Europe, South Africa and the Caribbean.

"Maitland's business is the delivery of cross-border corporate and private client, trust, tax and wealth management solutions which it provides through a unique integrated set of legal and financial services.

"As we gear up for future growth we want to give focused expression to our market niche and we have accordingly adopted an umbrella brand name for the four divisions in the firm, as follows," says Georgala:

* Legal Advisory
* Trust and Corporate Services
* Asset Management (incorporating Constantia funds; Constantia Consulting comprising a joint venture with hedge fund experts Notz Stucki in Geneva ; Constantia Alpha Asset Management in Cape Town)
* Fund Services (the result of the merger of Maitlands international fund business and Cape-Town based FinSource).
 
Georgala believes Maitland is the only independent firm in South Africa to offer the above services as a "one-stop shop". For example, the firm can not only advise on how to structure an offshore entity or fund, but set that structure up, list it and manage it, as well as handle its investments and their administration.

Maitland specialisations include complex offshore structuring, for which it is making a name for itself in Europe, securitisation trusteeship (acting as trustee in structures for the bundling and selling of debt), and hedge fund investments and administration. It merged its fund administration with FinSource two years ago to create an international fund administration business with currently in excess of R260 billion of assets under administration.

Saatchi & Saatchi in London devised the creative aspects of the corporate identity to reflect what were defined as Maitland hallmarks: challengers of conventional thinking and long-term client relationships.

Brands need to reinvent themselves to stay relevant and the rebranding exercise has come "not a minute too late" according to Georgala who cites Maitland developments since the beginning of this year. These include the opening of an office in Monaco; new London offices where the firm has 50 people; and several senior-management appointments in South Africa, including veteran attorney Ed Southey as local chairman