Zedra, a provider of independent trust, fiduciary, corporate and fund services, has completed the acquisition of Allied Corporate Services, a Netherlands-based provider of independent corporate services, following the approval of the Dutch central bank.
Following the completion of the deal, which was first announced in July this year, Allied will be merged into ZEDRA’s international network.
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In its press statement, ZEDRA revealed plans to double the size of its Dutch business over the next two to three years.
“The merger will add value to Allied's existing clients through ZEDRA's global outreach, extensive network and broad range of services,” the statement read.
Allied’s current management, which comprises of Ramon Zuketto and Peter Luc Oei, will remain on board.
The acquisition coincides with ZEDRA opening its new offices based at the World Trade Center, Schiphol.
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By GlobalDataZEDRA group CEO Niels Nielsen said: "We are delighted to have received approval for this acquisition. It is an important step in executing ZEDRA's strategy and fits in perfectly with our aim to develop our business in carefully selected jurisdictions.
“Further expansion of our network in the Netherlands has been a key priority. The combination of being a member of the European Union and having concluded tax treaties with a large number of countries, makes the Netherlands a particularly attractive base for domiciling international business operations."
The latest acquisition forms part of the growth plan of Zedra, which recently snapped up Azure Trust Jersey and also launched an office in Hong Kong.
