Ashtee Bullyraz, Head of Trusts and Private Clients at Intercontinental Trust Ltd (ITL), tells us how the organisation builds lasting relationships with clients.
Having been part of ITL’s growth story since 2006, Ashtee explains how the organisation’s commitment to delivering comprehensive, compliant and client-focused solutions has cemented their reputation as a leader in the fiduciary and corporate services arena. As ITL celebrates its 25th anniversary, Ashtee reflects on ITL’s ability to innovate and adapt to meet ever-evolving client needs in the global business sector.
Edited excerpts from an exclusive interview with Ashtee, who shares her insights on the evolving High-Net-Worth Individuals (HNWIs) landscape, ITL’s expertise in structuring solutions for affluent clients, and her role within:
1. ITL is celebrating its 25th anniversary. What do you believe are the key milestones and achievements that have defined the company’s journey over the past quarter-century?
Reflecting on ITL’s remarkable 25-year journey, several key milestones stand out. The company’s strategic expansion into global markets has been a cornerstone achievement, enabling us to support an international client base through offices and partnerships beyond Mauritius. Achieving the ISAE 3402 Type II Certification has also been a significant accomplishment, demonstrating our dedication to operational excellence and rigorous service standards. Additionally, our numerous industry accolades, such as awards for Best Investment Funds Administrator, reinforce the trust and confidence our clients place in ITL. These milestones reflect ITL’s commitment to delivering comprehensive, compliant, and client-focused solutions, solidifying our reputation as a leader in fiduciary and corporate services.
2. How have you seen the role of Trustees evolve in Mauritius and globally, particularly in the context of regulatory changes and economic shifts?
The role of Trustees has undergone significant evolution, shaped by increasing global compliance standards such as FATCA, CRS, and the Declaration of Beneficial Ownership. These frameworks have brought greater transparency and stringent regulatory requirements. Mauritius has adapted effectively, positioning itself as a secure and compliant jurisdiction for wealth planning. Moreover, clients today seek more innovative and flexible asset protection solutions, reflecting a growing demand for sophisticated estate planning and risk mitigation strategies amid economic volatility.
3. With your experience in the Global Business Sector, what have been the most significant changes you’ve witnessed in the industry since you started your career?
Over the years, I have witnessed transformative changes in the global business sector. The integration of technology has significantly enhanced operational efficiencies and client engagement, while regulatory advancements have created a more structured and transparent compliance environment. Clients’ needs are becoming more complex and notable, requiring in-depth expertise across varied legal and tax frameworks. These shifts have reshaped service delivery, compelling innovative approaches to continually adapt to meet evolving client needs.
4. Can you share some insights on the common challenges clients face when establishing trusts or foundations, and how your team at ITL assists them in navigating these complexities?
Clients often face challenges related to inheritance planning, tax implications, and navigating complex regulatory frameworks, especially when their assets and beneficiaries are spread across multiple jurisdictions. They seek solutions that ensure their wealth is securely and efficiently managed for future generations.
At ITL, we address these challenges by offering comprehensive, client-centric guidance that simplifies the establishment and administration processes. We leverage our expertise and the support of our sister companies to provide holistic advice on tax planning, investment strategies, and jurisdictional considerations. Our emphasis on client proximity sets us apart—we regularly travel to meet clients, visit their offices, and engage with their families. These interactions allow us to build trust and deliver personalised solutions aligned with their specific goals. This approach ensures clients feel confident that their wealth is in capable hands.
5. As you look ahead, what trends do you foresee impacting the trust and private client sector in the next five to ten years, especially in light of technological advancements and changing regulations?
In the coming decade, the sector will likely experience continued challenges as high-net-worth individuals (HNWIs) seek to protect and grow their wealth in an increasingly regulated environment. The demand for compliance-focused advisory services will intensify as regulations evolve. Furthermore, digital transformation will play a pivotal role in enhancing client engagement, data security, and operational efficiency. There is also a growing emphasis on Environmental, Social, and Governance (ESG) considerations, as clients integrate sustainability into their estate planning strategies. These trends will require service providers to remain adaptable, innovative, and client-focused.
6. What inspired you to pursue a career in trusts and estate planning, and what do you find most rewarding about your role at ITL?
I began my career in 2002 in the Trust department of a leading management company in Mauritius and joined ITL in 2006. My degree included a module on the Law of Trust, which sparked my initial interest in assisting with trust-related matters. This passion led me to pursue STEP qualifications, and I became a STEP Member in 2009.
My career in trusts and estate planning is driven by a desire to help HNWIs and families secure their wealth for future generations. The most rewarding aspect of my role is building lasting relationships with clients and crafting solutions tailored to their unique needs. As Head of Trusts and Private Clients at ITL, I take pride in delivering transparent, customised services that ensure clients’ legacies are preserved and effectively implemented. Knowing that my expertise positively impacts clients’ lives and provides them with peace of mind is deeply fulfilling.
