MJ Hudson, an asset management consultancy headquartered in London, has agreed to buy Jersey administrator Anglo Saxon Trust (AST) for an undisclosed sum.

The transaction is pending regulatory approvals.

Set up by three senior chartered accountants in 2005, AST currently has a client base of over 300. Its clientele includes companies, trusts and private individuals.

Post deal completion, the acquired entity will initially operate as MJ Hudson Anglo Saxon Trust.

MJ Hudson will absorb all AST employees. AST founders Gordon Angus and Nick Walker will leave AST and manage its sister company Jackson Fox.

Roger King, AST co-founder, will lead the AST administration business with MJ Hudson.

MJ Hudson CEO Matthew Hudson said: “AST is a well-established trust and company services business with a strong reputation and a highly experienced team. We are already present in Jersey as a law practice and listing sponsor, and in Guernsey also in administration and law. For our group, therefore, AST represents a valuable and timely cornerstone in our Channel Islands operations.

“More generally, we can offer AST the benefits of our London presence, alternatives focus and proven marketing expertise. “

MJ Hudson acquired Spring Associates Responsible Investment Service based in Amsterdam this July.

In January this year, MJ Hudson opened a new office in Milan, Italy.