“Noewe” sold its trust services business in Cyprus
2021-06-10
The integrated business services group “Noewe” has sold its trust services business and is retiring from this niche. The shares of the trust company were bought out by the team of managers of that company’s Cyprus division.
Having renounced the trust business, the company has no customers using these services either from the European Union or from third countries.
“We focus business in the Baltic countries because we want to better serve local customers. We see a lot of opportunities here, so we decided to abandon such a less promising branch of business,” – says Vilius Kavaliauskas, the former Chairman of the Board at “Noewe”.
