ZEDRA, a provider of independent trust, fiduciary, corporate and fund services, has agreed to acquire Interconsult, Luxembourg International Consulting, for an undisclosed sum.

Founded in 1992, Luxembourg-based Interconsult is a founder member of Luxembourg International Management Services Association, and offers corporate, administrative and fiduciary services to corporate as well as private clients.

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ZEDRA said that the deal will expand its global footprint to 11 jurisdictions and its workforce to about 380 worldwide.

Interconsult will be fully integrated into ZEDRA's network of office after completion of the deal, which is subject to regulatory nod.

ZEDRA group CEO Niels Nielsen said: "As we grow our offices and develop our operations, we need to be where our clients want to do business.

"Luxembourg is that place and therefore constitutes a natural extension for us. It will be a key part of our global network and an important hub for us to provide trust, corporate and fund trust services to our clients, irrespective of their domicile."

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Interconsult managing director Federigo Cannizzaro di Belmontino will retain his existing role after the takeover and will continue to be supported by 20 local staff. Frank Walenta, who recently joined Interconsult as its commercial director, will also remain at the firm.

ZEDRA managing director Federigo Cannizzaro di Belmontino said: “The merger will strengthen ZEDRA's presence in the market and we look forward to being a part of ZEDRA as it continues to grow. We are confident that our long standing industry experience in Luxembourg is a perfect fit with ZEDRA's service offering in strategic places across the world."