Financial advisory firm Jordan Park Group has secured key approval for the acquisition of Perspecta Trust, a New Hampshire-based non-depository trust company.
The transaction received the green light from the New Hampshire Banking Department (NHBD).
Formed in 2007, Perspecta Trust focuses on providing fiduciary, investment management and wealth transfer planning services to ultra-high net worth families. Paul Montrone and Paul Meister are the company’s co-founders.
The company also works with families to develop and manage family trust companies.
Once the transaction completes, Perspecta will be rebranded as Jordan Park Trust Company.
However, there will be no change in the company’s operations and will continue to run as a New Hampshire state-chartered trust company. Meister will also continue as one of the members of its board.
The deal is expected to enable both the companies to provide an expanded suite of services to their respective client bases, which primarily includes ultra-high-net-worth individuals and families.
Established in 2017 by Frank Ghali, Jordan Park Group is an independent financial advisory firm. Ghali formed the company after working with Goldman Sachs for nearly two decades.
The company offers investment management and financial advisory services to individuals, families and institutions.
Jordan Park Group has two offices in San Francisco and New York.