M and A
Deals Of The Day: The Latest In Wealth Management M&A – ZEDRA, BNP Paribas Jersey Trust Corp
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The latest mergers and acquisitions and other corporate actions in the wealth management sector.
ZEDRA, the corporate,
global expansion, wealth and pensions services group, has
completed its purchase of BNP Paribas Jersey Trust Corporation.
The Jersey Financial Services Commission granted regulatory
approval earlier in August.
The acquisition brings a business to ZEDRA which has offered
trustee and fiduciary services in Jersey for more than three
decades.
The M&A deal follows a run of acquisitions completed during
the last 12 months by ZEDRA, including PTL, a UK independent
pension trustee and governance services provider; Axelia
Partners, a global expansion specialist in the US; BFCS, the fund
and corporate services arm of Banque Internationale à Luxembourg;
Atlas Fund Services, a global investment fund administrator in
the US and Curaçao (pending regulatory approval); Caledonian
Trustees Limited, an independent UK professional pension trustee
firm; and AlleyBe, a Maltese corporate service provider, trustee
and virtual financial asset agent.
In March ZEDRA also said it had agreed to receive a strategic
minority investment from British Columbia Investment Management
Corporation (pending regulatory approval), one of Canada’s
largest institutional investors. The investment was made in
partnership with ZEDRA’s management team, led by executive
chairman Bart Deconinck and chief executive Ivo Hemelraad, and
the company’s existing majority investor, Corsair, which remains
the majority shareholder.
Yesterday’s announcement follows ZEDRA’s acquisition of BNP
Paribas Singapore Trust Corporation in July 2020, now fully
integrated and renamed Zedra Trustees (Singapore) Limited.