The management team of Guernsey-based Legis, the funds, corporate services and trust firm have bought out the business, under a newly-formed holding company, Legis Group Holdings.

Following the management buyout, Peter Harwood and Rupert Evans, both former partners of Ozannes and former shareholders in the business, will continue to hold directorships. Harwood will also be chairman of the firm. The firm’s 60 employees will continue to be based in Legis’ existing offices.

Funding for the buyout was provided by HSBC and a significant investment from Bailiwick Investments, a Guernsey-authorised closed-ended investment company.

Legis has been going through an expansionary period, having almost doubled its staff roster over the last three years.