Maitland, the global advisory and fund administration firm, has entered into an agreement to acquire Guernsey-based R&H Fund Services.
Other Rawlinson & Hunter businesses in the Channel Islands – R&H Trust Co (Guernsey), Rawlinson & Hunter and R&H’s Jersey businesses – have an entirely separate ownership structure and do not form part of the transaction.
Maitland says it will offer its full range of institutional client services through the Guernsey office, including long-only fund administration, transfer agency, hedge funds, private equity and real estate administration services.
The company also says Guernsey adds a potential post-Brexit alternative to Maitland’s operations in Luxembourg, Dublin and Malta.
Steve Georgala, CEO of Maitland, said: “This acquisition will be our third management company, and its location in Guernsey marks a significant step in our growth strategy, as we look to establish a management services capability in each of the major European fund administration centres.”
Craig Stewart, a Partner at Rawlinson & Hunter in Jersey, added: “Following a strategic review, we decided to focus on developing our Jersey operation, so a decision was taken to sell our six-person Guernsey fund services subsidiary. We are committed to growing our independent and locally owned Jersey fund services, corporate services and private client businesses.”
All R&H Fund Services (Guernsey) employees will be retained following the transaction.