This comes with financial services of CIBC Trust operations in Barbados now being acquired by a private banking and investment firm. This island's branch of CIBC Bank and Trust (Cayman) Limited services will be taken over by Bayshore Bank and Trust which already has operations in the island. The latter has entered into a binding agreement to acquire the financial services business of CIBC Bank and Trust. The transaction is expected to close immediately. This acquisition follows recent news of Bayshore acquiring Turks and Caicos Islands-based Private Counsel Trust Ltd. The announcement came from John Perry Bujouves, Chairman of Bayshore Bank & Trust.
CIBC (Cayman)'s Barbados branch provides fiduciary, company management and other financial Services to a portfolio of Canadian-based clients.
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