First Names Group Concludes Basel Acquisition

First Names Group is pleased to announce completion of its acquisition of The Basel Group following exchange of contracts and regulatory approval in Jersey and the British Virgin Islands.

This is the Group's second strategic purchase this year. The transaction significantly expands its presence and service offering in Jersey and Switzerland. First Names Group bought Moore Group in January this year which expanded its fund offering both in Jersey and the Far East.

Basel will rebrand by the end of the year, positioning First Names Group as one of the world's largest offshore trust, funds and corporate service providers with over 400 employees operating out of seven strategic locations.

Recently named in Private Client Practitioner's Top 25 Trust Companies for the third year running, First Names Group has experienced unprecedented growth since its June 2012 management buyout. After emerging from a major rebrand at the beginning of the year the Group has attracted and appointed some of the industry's leading professionals to advance its expansion.

Morgan Jubb, recently appointed CEO of First Names Group comments; “First Names Group has ambitious plans for growth. We are united behind our brand and culture and we will continue to develop and nurture it whilst evolving the business into a truly global operation”.

Mark Pesco, Managing Director of First Names Group in Jersey comments; “This is a really exciting time for us, the acquisition positions us as one of the largest independent trust companies in the Channel Islands. Basel is a great fit, a people focused business dedicated to delivering superior levels of client service that match our own. We are all looking forward to being under one roof when we relocate to our new office on the Esplanade towards the end of the year.'

Julie Coward CEO of Basel comments; “We did not enter into this agreement lightly; great consideration was given to ensure it was the right fit culturally and that our clients would continue to receive the high level of service they are accustomed to. First Names Group matched all the criteria and we are confident the transition will provide even greater opportunities for our staff and our clients. ”

Pictured (left to right): Morgan Jubb, Julie Coward and Mark Pesco