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Alec R. Anderson

Director, Global Head of Private Client & Trust

Office
Jurisdiction(s)
Recognition

Legal 500 Caribbean 2019 Chambers Global 2019 

Alec R. Anderson is a Director and Global Head of Private Client & Trust located in the Bermuda office of Conyers Dill & Pearman. He is also a Director and President of Conyers Trust Services, a licensed trust company and a controlled affiliate of Conyers Dill & Pearman. Alec joined Conyers in 1985 and became partner in 1991.

Alec’s practice specializes in trust and estate planning for international private clients and advising professional trustees on trust law liability and trusts structuring issues. His practice includes advising on the creation of private trusts companies, cross border restructuring, modification and variation of trusts. Alec also has considerable experience in contentious trust matters. Additionally, his practice includes involvement in the protection of family wealth from divorce and other litigation.

Alec is a regular speaker at international trust and private client conferences and a regular contributor to trade and legal publications. He is author of the Bermuda Chapters in International Trust Precedents (published by Sweet & Maxwell) and International Charities (published by Wiley & Sons). He wrote a chapter on “The Statutory Non-Charitable Purpose Trusts: Equity, Fiduciaries and Trusts” in Equity Fiduciaries and Trusts, (published by Carswell), and is co-author of the Bermuda chapter of the STEP publication A Practical Guide to the Transfer of Trusteeships. He is the author of the chapter on Trust & Private Client Practice in Bermuda in the new book Offshore Commercial Law in Bermuda by Chief Justice Ian Kawaley and is the Bermuda editor of Trusts & Trustees Journal. He is the co-author of the Bermuda chapter of The Private Wealth & Private Client Law Review (2nd Edition) edited by John Riches.

Experience Highlights

  • Numerous in camera applications to the Bermuda court under Section 47 of Bermuda’s Trustee Act 1975 resulting in successful reorganisations of Bermuda trusts; helped develop new jurisdiction of the Bermuda Court under Section 47 to provide for variations of trusts in certain circumstances without the requirement for the formal consent of all beneficiaries, which has augmented tax efficiencies for multi-jurisdictional families. Advised several trusts on this worth in excess of several hundred millions and in one case, over $1 billion.
  • Advising on the complex reorganisation of a Bermuda law trust with Italian resident beneficiaries which involved substantive advice on cross-jurisdictional issues, including complex mandatory succession right issues; this project involved negotiating a settlement of a dispute between principal beneficiaries via UK court approval after moving a Bermuda trust to the UK. The solution of compromise saved millions of pounds in legal fees.
  • Acted for the Trustees in one of the most substantial offshore trust transactions in many years, a Court approved (but highly negotiated) split of several billion dollars’ worth of operating businesses between family branches involving over 25 beneficiaries: significantly improved the tax planning profile of the assets, improved liability protection for the trustees, obtained approval for the substitution of a Bermuda PTC limited by guarantee in place of individual trustees, and satisfied the Court that proper fiduciary considerations justified splitting the trust assets, without a formal valuation being determined.
  • Advising a corporate trustee on the private acquisition of a publicly-listed UK company for the benefit of a high profile client, involving implications concerning UK tax law, Swiss tax law, UK securities law and Bermuda trust law, with the trustees located in Bermuda.
  • Acting for the offshore vendor of a major premier league football club.
  • Advising on a mediated splitting of trust assets of value in excess of $1billion in relation to US beneficiaries and pour-over to U.S. situs trusts with Court approved sanction.
  • Advising on challenges to validity to Bermuda trusts owning operating businesses based on mandatory succession laws and in response to allegations of illusory or sham trust arguments.

Professional Background

  • Macfarlanes Solicitors, London
  • – No. 1 Brick Court, London

Education

  • London School of Economics, LLB, 1983
  • University of Virginia, B.A. Foreign Affairs, 1980

Bar Admissions

  • Bermuda, 1985
  • New York State, 1985
  • England & Wales, 1984

Awards & Accolades

  • Recognised in the 2020 edition (and since 2009) of Legal 500 Caribbean (trusts/private client)
  • Recognised in the 2019 edition (and since 2010) of Chambers Global (International Private Client – Band 1)
  • Recognised in the 2018 edition (and since 2013) of Who’s Who Legal as a “most highly regarded” lawyer (private client)
  • Recognised in Legal Week’s The Private Client Global Elite 2017
  • Recognised in the 2016 edition of Chambers HNW (Offshore: Trusts – Band 1)
  • Recognised in the 2016 edition (and since 2011) of the CityWealth Leaders List (private client)
  • Recognised as “Best of the Best” in the 2015 edition of Legal Media Groups’ Expert Guides (trusts and estates)
  • Recognised in the 2009 edition of the Private Client Practitioner’s Top 50 (private client)

Associations

  • Chairman, The Bermuda Trust Law Reform Committee
  • The International Academy of Estate and Trust Law (Executive Council Member)
  • Society of Trust and Estate Practitioners (STEP)
  • International Member, The American College of Trust and Estate Counsel (ACTEC)
  • Member, ACTEC International Estate Planning Committee

Offshore Cases

Private Wealth 2019, Chambers and Partners

The Private Wealth & Private Client Review – Bermuda Chapter (2014)

Trusts & Trustees – Bermuda Chapter (2014)

International Trusts Precedents – Bermuda Chapter (2014)

Bermuda Reserved Powers Legislation – Unique aspects proffered – STEP Journal Bermuda (2014)

“Trust & Private Client Practice in Bermuda” – Chapter in Offshore Commercial Law edited by Chief Justice Ian Kawaley (2013)

The Private Wealth & Private Client Review – Bermuda Chapter (2013)

Bermuda: Jurisdiction of Choice for Trust and Wealth Structures (2012)

The Private Wealth & Private Client Law Review – Bermuda Chapter (2012)

Bermuda Trust Jurisdiction – Trust (Regulations of Trust Business) Act 2001 (2012)

The International Academy of Estate and Trust Law – Modification of Trusts and Planning for Change: Bermuda (2009)

The World Trust Survey – Bermuda Chapter (2009)

The International Academy of Estate and Trust Law – Trust Law: Right to Information and Duties of Disclosure and Confidentiality – A Bermuda Perspective in Practice (2005)

Journal of International Trust and Corporate Planning – Purpose Trusts and Charitable Trusts in Securitisation and other Structured Finance Transactions (2000)

Area(s) of Expertise

Deals & Cases

Upcoming Firm Events

14 Nov 2019
Legal Week International Private Client Forum 2019

Villa D’Este
Via Regina, 40, 22012
Cernobbio CO, Italy