Overseas Civilian Contractors

News and issues relating to Civilian Contractors working Overseas

Security firm Aegis creates Swiss holding

GENEVA  Bloomberg

Aegis, one of the world’s biggest private security contractors, has set up a Swiss holding company that effectively moves the British firm’s headquarters to the Alpine nation, a Swiss newspaper reported Monday.

London-based Aegis Defence Services Ltd., which operates in Afghanistan, Iraq and elsewhere, is now wholly owned by a shell company in the northwestern city of Basel, local daily Basler Zeitung reported.

A public relations company acting on behalf of Aegis declined to immediately comment on the report.

Citing confidential documents, Basler Zeitung reported that Aegis’ seven owners — including founders Tim Spicer, Mark Bullough, Jeffrey Day and Dominic Armstrong — have swapped their shares for stakes in the Basel-based holding company.

The three remaining shareholders in Aegis are James Ellery, one-time head of the U.N. mission in southern Sudan, retired British diplomat John Birch and former U.K. army chief Peter Inge, according to the newspaper.

Founded in 2002, Aegis was awarded one of the biggest U.S. security contracts in Iraq — valued at more than $430 million.

In 2005, some Aegis employees posted videos on the Internet showing company guards firing automatic weapons at civilians from the back of a moving security vehicle.

Aegis claimed the shootings were legal and within rules established by the now-defunct Coalition Provisional Authority. U.S. Army auditors, in their own investigation, agreed with Aegis

August 9, 2010 - Posted by | Aegis, Civilian Contractors, Private Military Contractors, Private Security Contractor | , ,

1 Comment »

  1. Hi,

    we don’t want to have tim Spicer and his Aegis Group Holding AG in Switzerland.

    watch out on : http://nosisinfo.wordpress.com/

    see you

    Comment by nosis | August 16, 2010 | Reply


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