M and A
Deals Of The Day: The Latest In Wealth Management M&A - LJ Fiduciary, ZEDRA

The latest transactions, mergers and acquisitions involving wealth management around the world.
ZEDRA Group, an
international provider of trust, corporate and fund services has
bought the Switzerland/Isle of Man-based LJ Fiduciary business
from investment firm Alvarium. The deal adds almost 50 staff to
ZEDRA's headcount of more than 500 industry experts.
As part of the transaction, LJ Fiduciary will be rebranded and
merged into the ZEDRA network. The deal is subject to local
regulatory approval, ZEDRA said in a statement
yesterday.
LJ Fiduciary's Swiss and Isle of Man service covers global
private client, fund and corporate administration services.
“This acquisition will give us an important opportunity to fast
track our growth by diversification into different client
segments in these two jurisdictions, Switzerland and the Isle of
Man. It will reinforce mutual strengths and strong existing
market positions,” Ivo Hemelraad, ZEDRA Group Director said.
Total staff in Switzerland will now number more than 70 while in
the Isle of Man, staff numbers will exceed 100.
ZEDRA recently announced the acquisition of Talenture, an
independent corporate services provider specialising in providing
consulting and corporate services solutions for international
entrepreneurs and corporations in Lugano, Switzerland.
Last year, ZEDRA announced a strategic partnership with Corsair
Capital in which the private equity group plans to take a
majority stake in the group.
Such transactions are fresh examples of consolidation in the
trusts, fund administration and corporate advisory services
space. Earlier in the summer this year, SMP Group of Companies, a
global professional and financial services group based in the
Isle of Man, bought Jersey-based Helm Trust Company, a trust and
corporate services provider. A number of banks, such as Investec,
ABN AMRO and Barclays have spun off trusts and associated
businesses. ZEDRA bought the Barclays UK trusts business and
completed that deal in April 2016. In December 2017, investor
services firm SGG Group bought Jersey-based First Names Group
from AnaCap Financial Services, the private equity organisation.
Among other deals, in 2014, Butterfield Group, part of
Bermuda-based Butterfield, completed its acquisition of
Guernsey-based Legis Group, taking on its trusts and corporate
services business.
Salamanca, the UK-based Investec Trust Group; ABN AMRO sold its
trusts business a decade ago to Equity Trust. Rival
Netherlands-based ING spun off its trusts business in 2007. In
the Channel Islands, deals have included investment by Close
Brothers Private Equity in Jersey Trust Company and Kleinwort
Benson’s acquisition of Close Brothers Offshore Group. In 2011,
TMF and Equity Trust merged. Australia and New Zealand Banking
Group has completed the sale of its ANZ Trustees business to
Equity Trustees.