From 31 December the financial services operations in Guernsey have dropped the ‘Olsen’ name and have become subsidiaries of Carey Holdings Ltd.
The Carey Olsen partnership was formed in March 2003 from Jersey law firm Olsens and Guernsey firm Carey Langlois.
Guernsey-based partner Graham Hall said: ‘Nothing has changed at the law practice at all, but certain business units were not part of the core business activity of the group and were owned by some of, but not all of the partners.
They have now been given the freedom to run their own businesses.
Mr Hall said some partners of the law firm were also partners of Carey Holdings, but otherwise the legal firm would be independent from the financial services businesses.
‘We perceive increasing problems with law firms maintaining very close links with financial services businesses – we see independence as key,’ he said.
