Investor services firm SGG Group has completed the previously announced acquisition of First Names Group after procuring regulatory approvals.
The acquisition of First Names, a Jersey-based private client, corporate and fund services provider, was announced in December last year.
The deal bolsters SGG’s footprint in various key regions including Jersey, Guernsey, the Isle of Man, Switzerland, Cyprus and Ireland.
The combined business is said to be the fourth largest investor services firm globally in terms of revenue with presence across 22 jurisdictions.
SGG CEO Serge Krancenblum said: “First Names Group perfectly complements our existing client offering and grows our jurisdictional capabilities, giving us a truly global footprint while still allowing us to maintain personal relationships with our clients.
“Beyond this, First Names Group appealed to us because of its highly experienced team and client base which are highly complementary to ours, its similar history and shared vision for the future.”
Currently, a full review of the merged business is underway. The businesses will retain their existing brands until the completion of the review.
First Names ex- CEO Mark Pesco said: “At First Names Group we’ve been highly ambitious and delivered exceptional growth over the last few years. Joining forces with SGG Group is a hugely exciting opportunity as it brings a wealth of new opportunities for us as a combined business, for our people and especially for our clients.
“We have built a strong business, and now it’s time to embark upon the next stage of our business journey.”