Asian company formation specialist OIL has been rebranded as Vistra, five years after the firms originally merged.
The rebrand, announced by Vistra in a statement earlier today, was described as heralding “a new chapter” for the company and is the culmination of five years of integration that began with the merger of OIL and Vistra in 2011.
Following an “alignment of the respective corporate identities” in 2015, the re-branding of OIL to Vistra completes the final step in operating as one united business, the statement said.
With over 30 years history, OIL has become the leader in international incorporations and related services; working with both end clients and intermediaries to support their cross border aspirations. Moving forward, the OIL business will form the basis of Vistra’s Company Formation division.
Martin Crawford, chief executive of Vistra, said that the company is “immensely proud” of the OIL brand and what it has represented over the past 30 years; especially in the Asian markets in which it has operated.
Originally branded Offshore Incorporations Limited, OIL for short, it pioneered the use of offshore entities in Asia as a means of opening up trade, investments, and capital market transactions to the rest of the world.
“As the business has developed and expanded beyond Asia, it makes sense to align under the Vistra brand,” said Crawford. “This is a significant step in the evolution of Vistra into a truly global brand and one that we are very excited about.”
Vistra has also appointed Gavin Carruthers as director of its Jersey Fund Services business.
In a statement announcing the appointment, Vistra said that as director, Carruthers will join the Funds team on the island that specialises in all aspects of corporate, fiduciary and administrative solutions for alternative investment structures, including real estate and private equity funds.
Previously he worked for Intertrust (formerly Elian and Ogier) and PriceWaterhouseCoopers.
His current experience includes real estate fund administration, private equity fund administration and the administration of the provision of Operator Services to UK Unregulated Collective Investment Schemes in accordance with FCA requirements.
Managing director of Vistra Jersey, Jane Pearce, said: “Gavin’s experience in the Funds area will be a very important addition to our team and I look forward to working with him to help us build and grow our business.”
Vistra, which dates back to a 2006 buy-in of the fiduciary and unit test business of Chiltern in London and Jersey by the former top level management team of Fortis Intertrust, was acquired Baring Equity Asia in 2015.
The company has, as reported, been expanding globally with a series of acquisitions in Singapore, India, Jersey and the UK across the last 12 months.