The deal was finalised on 27 February and is subject to regulatory approval.

Estera, a global fiduciary and administration provider, has acquired Guernsey-based fund administrator Morgan Sharpe for an undisclosed sum in a deal that will see the latter firm rebranded under the Estera name. 

The deal was finalised on 27 February and is subject to regulatory approval. The acquisition of Morgan Sharpe's 18-strong team will boost Estera's headcount to 370. 

“This is a great start to the new year following the success of our rebrand in 2016,” said Farah Ballands, Estera chief executive.

She added: “The team at Morgan Sharpe is a perfect fit with the Estera group – they are committed to the high standards of service that our clients are accustomed to and we are pleased to welcome them. Under our ownership, Morgan Sharpe’s clients will benefit from additional resources and access to Estera’s expertise on a global basis.”

Serena Tremlett and Mel Torode, founders of Morgan Sharpe, said: “Partnering with a leading global player in fund administration and fiduciary services in an increasingly complex and international market was the next logical step for Morgan Sharpe. We have received many approaches from potential buyers in recent years, a great validation of our business model. Estera is the ideal partner for us given its global reach, excellent reputation, professionalism and commitment to both employees and clients.”