Kindly shared by James Nicholson

Following a post a made regarding a former colleague I received a query re the setting up of PFS and Trust Co. I was going to respond personally but in going through a file I found a page from the Midland Bank Group Newspaper (who remembers reading the newspaper) I had retained. Since the creation of PFS we have seen a number of changes with Probates being sold in 2015 to Simplify. Subsequently the portfolio management was transferred from Trust Co to Bank.

In March 2025 Ludlow Trust acquired the Trust Company and the remaining trusts.

In February 2026 the bank sold the UK life insurance business to Chesnara plc. The protection business has been closed but the onshore and offshore bond business remains open.

I had retired by the time Trust Company was sold, it wasn't a surprise once we had stopped taking on new trusts and the number of trusts we managed declined.