Boston Multi Family Office, a trust and fiduciary services firm based in the Isle of Man, has announced a management buyout.

The decision is pending regulatory nod.

The firm will now prioritise both organic growth as well as strategic acquisitions. It will retain its Isle of Man base.

As part of the buyout, former group director of business development Katherine Ellis will assume the role of CEO.

“The creation and preservation of family wealth remains our overriding mission and I am looking forward to working with the team to implement our strategy for future growth,” Ellis said.

Alex McNee will serve as the managing director under the new structure.

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McNee stated: “We have responded to demand from intermediaries and other wealthy families to broaden our services over the past two decades and establish a multi-jurisdictional presence.

“The ability to offer services across both non-EU-offshore and EU-onshore jurisdictions provides an enormous amount of opportunity and gives us maximum flexibility for structuring assets globally.”

Set up in 2002, Boston started as a single family office and later became a commercial multi-family office.

Apart from the Isle of Man, the firm also has presence in Malta and the Dubai International Financial Centre.