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Cayman National Corporation. Serving the people of the Cayman Islands for 30 years, Cayman National Trust provides a comprehensive range of mutual fund and trust and corporate administration services. Cayman National Trust is a division of the Cayman National Corporation and provides a full range of domestic and international financial services.
“Primacy’s unique combination of functionality and ease-of-use was key to our decision. We were also impressed by the company’s track record of excellent service and support, and their responsiveness to our unique requirements.”
Jay Schutte, Senior Vice President, Operations, International Financial Services, Cayman National Corporation Back
Cidel Bank & Trust is a bank and trust company incorporated in Barbados under the laws of the Barbados Offshore Banking Act and is regulated by the Central Bank of Barbados. Citadel is located in Bridgetown, Barbados and has representative offices in a number of cities around the world. Citadel's primary business is private wealth management, which includes trust and corporate services, multi-currency banking facilities, discretionary investment portfolios, client managed portfolios, brokerage facilities, securities administration and safekeeping and active business management services. Citadel prides itself on providing client service comparable to the most sophisticated onshore jurisdictions.
"We intend to grow substantially in the years to come. Our goal is to continue to deliver these services with the care and professionalism we now provide, when we reach 1000 clients.
In order to achieve this, we developed a business model where virtually all of the bank's staff are free from operational management issues and thus, able to concentrate on client relationships, building alliances with industry leaders, and researching products that maximize the value of client's assets. This meant carefully planning our back office and technology infrastructure to provide total and controlled support with minimum human resource requirement.
The chief benefit is the client service enhancements that the Primacy solution provides - it will allow us to double our assets under management without increasing our costs or staff whatsoever. From the asset management side, the ability to manage investments has drastically improved. We are changing the rules of offshore business in the delivery of information to our clients. Less than 50% of our clients now rely on paper and mailing to receive their financial information from our organization. We now have the flexibility to do complex transaction such as limited partnership investments and have it reflected in the portfolio.
We are confident that we can reach our goals and continue to find operational efficiencies with Primacy as our solution provider."
Adrian Meyer, President, Citadel Bank & Trust (Barbados) Back
Aall Trust & Banking Corporation Ltd. and its wholly owned subsidiary Aall Asset Management (Cayman) Ltd. are Cayman Islands-based members of the Aall Group of Companies. In 1980, Aall Trust & Banking was granted a Category "A" unrestricted banking and trust license by the Cayman Island government, one of the first such licenses to be granted to a privately owned banking corporation.
"The decision to upgrade our banking system was not made lightly. We carefully researched the products on the market and assessed functionality, integration and ease of use as well as internal controls. Primacy received full marks in every category.
Data conversion from Aall's previous banking system, Bank 2000, was particularly challenging, due to its proprietary data structure. The conversion went extremely well, with virtually all of the historical transaction data recovered. We're now running solely on Primacy, and seeing more satisfied customers, reduced errors, improved reporting and a better managed capital base."
Kim Remizowski, Manager Banking, Treasury & Operations, Aall Trust & Banking Back
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