LUXEMBOURG, LUXEMBOURG--(Marketwire - April 18, 2012) - Private financial institution, Eurotex Global Savings & Trust, SA a Luxembourg grantor trust company (www.egsavings.com) has been sold to Alejandro Cerda Uranga and his investment group, on Thursday, 15th day of March 2012, for an undisclosed amount.
In addition to the sale of Eurotex Global Savings & Trust SA. The firm's new owner, Alejandro Cerda Uranga has accepted James Timothy White's resignation as Chairman and CEO of the company and will assume the role of CEO and Chairman.
Mr. White was quoted as saying, "My time with Eurotex Global Savings & Trust SA was a great learning experience and the new owners should to do well with this business. I'm looking forward to simplify my life and enjoy the fruits of my labor."
Alejandro Cerda Uranga comments that "he is very excited with this new opportunity and is looking forward to expanding the international import and export credit markets with Eurotex Global Savings & Trust SA, in the Asian regions of the People's Republic of China and the Special Administrative Regions of Hong Kong and Macau, in addition to the existing markets being served." This would be in addition to offering grantor trust account services to the high-net worth international corporate clients and customers that would like to have a presence in western banking society with Eurotex Global Savings & Trust SA, Luxembourg.
About Eurotex Global Savings & Trust SA
The company will work with high net-worth clients and corporations who wish to form non-discretionary grantor trust accounts. These trusts are specifically designed to protect and hold global securities, monetary instruments in several different currencies, and hard assets such as, but not limited to, real-estate, insurance policies and precious metals. Eurotex Global Savings & Trust SA is a financial institution headquartered in Luxembourg City, Luxembourg and currently employs four full-time staff. The company works with many high-net worth clients and corporations internationally to form grantor trusts.