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Company rebrands to Fairbairn Private Bank

14 December 2004

FAIRBAIRN PRIVATE BANK IS DISTINCTLY DIFFERENT

Fairbairn Private Bank, previously known as Gerrard Private Bank, has changed its name due to the sale by Old Mutual Plc (“Old Mutual”) of its sister company Gerrard Management Services Limited which took place last October.

Old Mutual announced the sale of Gerrard Management Services Limited (“Gerrard”) to Barclays Bank Plc in October 2003. Gerrard Private Bank was never a part of the negotiations and was not part of the transaction. The Bank retained rights to the Gerrard brand for twelve months, which ends on 17 December 2004.

The name Fairbairn originates from the founder of Old Mutual Plc dating back to 1845. Fairbairn Private Bank will incorporate the group Fairbairn Trust Company who are also part of the Nedcor Group and ultimate parent Old Mutual.  Listed on the London, Johannesburg and Harare Stock Exchange, Old Mutual has a diverse range of operating companies serving over three million clients worldwide and has over US$50 billion under management.

Fairnbairn Private Bank boasts an award winning service, taking a distinctly different approach to banking products and services.  The bank announced its name change earlier this week and confirmed there will be no change within the business model or strategy.

Fairbairn Private Bank has significant operations in both Jersey and the Isle of Man and provide an award winning fully integrated banking and investment service that provides a single point of entry, removing client frustration and saving both money and time.

Greg Horton, Managing Director said “ I would like to reiterate that our ultimate parent’s decision to disinvest its interest in Gerrard Limited in no way reflected on the banks’ business which, from its British Offshore Island locations, has always been run as an entirely separate entity with a different shareholding and management team. As far as we are concerned, it is business as usual”.

So far this year, the bank has celebrated an office move that reflects their continued expansion as well as receiving the prestigious “Best Offshore Bank” award for an unprecedented third year running at the International Investment Offshore Fund and Product Awards.

Ends

For Further Information:

Mr Greg Horton or Miss Esther Whitehead                              Tel: +44 (0)1624 645000

Issued By:

Sarah Taylor, Isle of Man Advertising & PR Ltd                       Tel: +44 (0)1624 620440

Notes to Editor:

When referring to Gerrard Private Bank – please can you ensure that the company name is printed in full and not abbreviated.  So as not to confuse with Gerrard Limited, now an unrelated company.

10 things to know about Fairbairn Private Bank:

  1. Fairbairn Private Bank was the first British Offshore Island based bank to hold an independent credit rating (Moody’s).
  2. For the third successive year, we have won the highly coveted status of  “Best Offshore Bank” at the International Investment Offshore Fund and Product Awards.
  3. Although principally a private bank from the offshore UK locations, Fairbairn Private Bank can offer additional advantages where the client's residency or domiciliary status allows.
  4. Our principle aim is to service our clients better than any other financial services organisation.
  5. Fairbairn Private Bank is an international company with representative offices in Jersey, South Africa and Hong Kong.
  6. Our fully integrated award winning banking service FOCUS has been designed to save our clients and professional intermediaries time and money.
  7. Our Customer Service Team can be reached between 8am – 8pm, Monday – Friday 0800 289936 (from within the UK) or +44 (0) 1624 645000.
  8. You can request and download literature at http://www.fairbairnpb.com/.
  9. Fairbairn Private Bank offers an award winning range of products and services to suit an increasingly wide range of individuals, companies and trusts.
  10. If you were looking for a high quality flexible banking service, the move to Fairbairn Private Bank would make perfect sense.