SMP announces buyout and new CEO

Posted: 11/02/2019

Corporate, trust and professional services provider SMP Group, which includes Jersey-based SMP Partners, has announced a management buyout, as part of a planned leadership succession process. The MBO is subject to regulatory approval.

The group was created in 2007 through a management buyout from Fortis Intertrust, and has grown into an international provider with seven offices around the world. A continuity plan established last year has led to the secondary MBO and the appointment of David Hudson as its new CEO.

Formerly the group's Business Development Director, David has been on the board since 2011. He commented: "The backing we have secured gives us the opportunity to further invest in our people, culture and brand and will facilitate a more aggressive growth strategy.”

Previous co-owner and Chairman Steve McGowan will remain as a Non-Executive Director, while co-owner Stephen Turner continues as CEO of the Caribbean Region. 

The buyout was undertaken with the support of Palatine Private Equity, a UK mid-market private equity house.

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