Vistra, a provider of trust, fiduciary and fund administration services, has acquired Total Solutions Middle East (TSME), for an undisclosed sum.

The takeover will give Vistra a presence in Abu Dhabi, where TSME set up an office in 2016.

The deal will also enhance Vistra’s footprint in Dubai, where TSME launched its office in 2004. Togetehr with its presence in Dubai’s International Financial Centre and Abu Dhabi’s Abu Dhabi Global Markets, TSME offers governance, risk, compliance as well as human resources services.

TSME’s 26-member team will join Vistra as part of the deal, with TSME CEO Jurry de Vries becoming managing director for the Middle East at Vistra.

“We strongly believe that joining the Vistra family will not only offer our clients a broader network of services and geographical locations, but will also offer our staff additional career development opportunities whilst accelerating the regional expansion we have envisaged,” de Vries stated.

Vistra group managing director of the corporate and private clients division Arjan Schaapman said: “TSME’s expertise will complement, and enhance our existing corporate and private client service portfolio in the region. We predict that by strengthening our presence in the UAE we can also begin laying the foundations for further expansion in the Middle East.”

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By GlobalData