Prompted by unprecedented expansion and a growing client base, Heirtrace Limited has expanded its top team to manage the growth in demand for Asset Reunification services. Danielle Higgins, previously Director of Marketing, has been promoted to Managing Director and Sarah Jones has joined the Board as Operations Director.

Mike Eve, Chairman at Heirtrace commented “ I am delighted that Danielle Higgins and Sarah Jones have taken up these appointments.

Danielle Higgins has wide ranging experience of the unclaimed assets and dormant account issues that face the financial services sector. Danielle has successfully built up the Heirtrace team and client base and has placed Heirtrace in a leading position to provide innovative solutions to the issues that are being faced.”

“Sarah Jones has extensive Operations Management experience within the financial service sector and since joining Heirtrace, Sarah has successfully implemented a unique asset reunification management system, and has developed unique services tailored to the varying needs of the sector.”

Although hard to believe, many people forget about money that is stored in bank accounts, pension funds, ISAs and other saving instruments. Until very recently the financial institution instructed to hold this money was under no obligation to find the person to whom the money belongs, should it have remained untouched for a number of years.

The Dormant Bank and Building Society Act, brought into force at the end of 2008, has changed this. It is now the case that if an asset has been left untouched for 15 years or more, the bank or building society holding the money is strongly encouraged to locate the person to whom it belongs, so that the money can be returned. In instances where the money remains unclaimed, a Central Reclaim fund has been set up, to direct these funds towards charitable projects.

The demand to trace these customers or their heirs and beneficiaries (in cases when the original customer is deceased) has therefore grown exponentially in the last six months and Heirtrace, who offer people tracing for asset reunification purposes, has been assisting many of these large financial institutions to deal with this issue.