SGG Group has agreed to acquire First Names Group, a Jersey-based provider of private client, corporate and fund services, from AnaCap Financial Partners.
The deal, which is subject to regulatory nod, expands SGG’s reach in Jersey, Guernsey, the Isle of Man, Switzerland and Cyprus. It will also make SGG the world’s 4th largest provider of trust, corporate and fund services, by revenue.
The merged entity will operate across 23 jurisdictions. It will employ more than 1500 people and offer services to ultra-high net worth families, corporates and fund clients.
SGG group CEO said: “First Names Group complements our offering and jurisdictional capabilities in our key client segments. Beside their impressive leadership and client base, First Names Group has a similar history and shares our values.”
First Names Group CEO Mark Pesco added: “We have built a great business with the active backing and support of AnaCap. As part of SGG Group we have an extremely bright future and this deal positions us to take this business to its full potential.”