Isle of Man head-quartered SMP Partners Group today announced that it has entered into a purchase and sale agreement to acquire RBC’s trust, custody and fund administration businesses in the Caribbean.

“This acquisition will establish our presence in the Caribbean region and further extend our global network,” said Steve McGowan, SMP Partners Group chairman.

“Our Group has established an international reputation as leaders in trust, fund and corporate administration and we look forward to continuing the delivery of the high standard of service provided by the RB...