Harneys Fiduciary celebrates 50th anniversary

The story of Harneys Fiduciary began in 1974, when the founding partners of the law firm Harney Westwood & Riegels, Harold Harney, Michael Riegels, and Neville Westwood, started the business in the British Virgin Islands.

The law firm had been founded 14 years earlier and they wanted to additionally provide corporate and administrative support to their clients. Demand took off and the business started servicing corporate, fund and private clients across a variety of industries. Today, Harneys Fiduciary has evolved into a global business services provider operating in 10 locations worldwide and employing 300 professionals.

By the early 2000s, Harneys Fiduciary established its first office outside the Caribbean in London, followed in quick succession by offices in the Cayman Islands, Hong Kong, Montevideo, São Paulo, Shanghai, Cyprus, and most recently, Miami and Singapore in 2019.

Chief Executive Officer Ross Munro, who has been with the business for nearly 20 years, reflects: “It is incredible to see how far we have come since our inception in 1974. Our journey from a single office in the BVI to an international offshore business services provider would not have been possible without the support of our clients and the commitment of our people.”

Macia Payne, Harneys Fiduciary’s longest-standing employee and Managing Director of Corporate Service in the BVI, shared her experience over the years: “I joined Harneys Fiduciary as an office administrator over 35 years ago during the Telex era, which transitioned to fax machines, and then fast forward to today’s internet communication platforms. Experiencing these developments first-hand, you appreciate how far technology has brought us”. It has not always been smooth sailing over the course of 50 years, Macia Payne adds: “We have faced both prosperous and challenging times, yet the foundations we have built have allowed us to persevere and continually evolve.”

Over the years, Harneys Fiduciary has navigated significant legislative changes that have shaped their service offering, including the introduction of the BVI International Business Companies Act in 1984 and the BVI Business Companies Act in 2004. The company also collaborated with its strategic alliance partner, Harneys law firm, to develop the first-of-its-kind Economic Substance Classification Tool. In addition to its focus on innovation, Harneys Fiduciary is committed to promoting diversity and inclusion within their business. More than half of the company’s directors and the senior leadership team are women.

Earlier this month, Harneys Fiduciary announced the completion of its sale by Harneys law firm. “Our ability to adapt has been key to our longevity,” says Maria Pia Buchi, Chief Commercial Officer. “Our recent change of ownership marks a monumental chapter for us. We have planted our roots and are now branching out into new horizons, all while honouring our heritage.”

In addition to its business endeavours, Harneys Fiduciary is committed to being an active member of the communities in which it operates and supporting charitable organisations worldwide. Ross Munro adds, “Harneys Fiduciary is not just a business; it is a community, and when people come together, remarkable things happen. We look forward to continuing our legacy together”.

To commemorate Harneys Fiduciary’s golden anniversary, a dedicated history microsite has been added to the website, which will continue to be populated with insights and events over the course of their 50th year. Visit www.harneysfiduciary.com/at-a-glance/our-story/