Financial service group PraxisIFM has acquired fiduciary and corporate governance consultancy Ampersand Management to enhance its presence in Switzerland and expand its operational footprint in Africa.
Ampersand, which has operations in Geneva and Mauritius and employs nine staff, was established in 2006 by Martyn Crespel and Jean-Paul Le Cocq, both from Jersey.
Brian Morris, Chairman of PraxisIFM, said: “Ampersand’s services are complementary to PraxisIFM’s. They offer a commonsense approach to corporate governance advisory services, especially to Middle East family offices, and they have significant experience working with families in the Gulf who have Sharia requirements.”
According to PraxisFM, the acquisition means it now has assets under administration in excess of $42bn and revenues of more than £28 million.