SGG Group has acquired First Names Group from AnaCap Financial Partners.
The transaction (which is subject to regulatory approval) means that SGG will become, by revenue, the world’s fourth-largest provider of trust, corporate and fund services. The combined group will employ over 1,500 people with a presence in 23 jurisdictions.
The combination of SGG and First Names strengthens SGG’s reach and capabilities in key markets such as Jersey, Guernsey, the Isle of Man, Switzerland and Cyprus.
SGG is an investor services firm providing a comprehensive range of compliance, administration and asset services to alternative investment funds, international companies, (U)HNW families and entrepreneurs.
SGG’s main shareholders are Astorg Partners, a renowned European investment firm which acts as a long-term financial backer supporting the roll out of the Group’s business plan.
First Names is a fast-growing provider of private client, corporate and fund services headquartered in Jersey and present in 14 jurisdictions.
Serge Krancenblum, SGG's Group CEO, said: "This is a key milestone for the SGG Group. First Names Group complements our offering and jurisdictional capabilities in our key client segments.”
Mark Pesco, First Names Group CEO, commented: ”I believe that this is a hugely exciting opportunity as this deal will bring a wealth of new opportunities for our newly combined businesses, everyone within it and especially for our clients.”
Regulatory consent is expected to complete around June 2018 – in the meantime, First Names expects operations to be 'business as usual'.