Suntera Global has completed its acquisition in the Channel Islands following the receipt of regulatory approvals.
The acquisition of specialist fiduciary services provider, Nedgroup Trust, will strengthen Suntera Global’s offering as well as extend its reach into an additional tier one jurisdiction in Guernsey. Nedgroup Trust has a 70 strong team of staff across the Channel Islands, with 50 of those based in Guernsey.
As well as enhancing Suntera’s global presence with the addition of Guernsey, and bolstering its existing Jersey office, the completion of the acquisition also brings additional expertise to Suntera’s wider international footprint in the Bahamas, Cayman Islands, Hong Kong, Isle of Man, Luxembourg, Malta, Switzerland and the US.
Nedgroup Trust provides a full suite of fiduciary services to high-net worth individuals, ultra-high-net worth individuals, family offices and owner managed businesses, with a substantial proportion of its international client base stemming from South Africa, a highly complementary jurisdiction for Suntera Global across its service offering.
David Hudson, Group CEO of Suntera Global, commented: “We are delighted to have completed on this high-quality acquisition which expands our reach into a new jurisdiction in Guernsey and enhances our overall international private wealth service offering.
“The Nedgroup name carries an impressive reputation that chimes well with our own focus on providing a personal tailored service while also delivering sustainable and responsible growth. Our new Guernsey and Jersey colleagues join us immediately and I am very much looking forward to welcoming them to the Suntera Global team.”
Tom Wildig, Investment Director at Palatine Private Equity, said: “This acquisition drives forward the company’s ambitious growth strategy, giving it a presence in the strong financial sector of the Channel Islands.”