The deal is backed by independent private equity fund manager Electra Partners on behalf of its major client who has agreed to invest £83 million of equity in the transaction. Completion is subject to certain conditions including regulatory approvals.
Significant additional funding resulting from the deal will be invested in business growth plans, key systems and infrastructure.
Paul Willing will continue in the role of CEO, supported by the current executive team. There will also be no change to the current client service and relationship teams. Ogier Fiduciary Services will employ 450 people across ten jurisdictions, as the business grows over the next five years, building on 13 years of consecutive growth, underpinned by services provided through Ogier Capital Services, Ogier Corporate Services, Ogier Fund Services and Ogier Private Wealth.
Ogier Legal will remain an independent, partner-led law firm with Nick Kershaw as CEO supported by the Legal Executive Board. Ogier Legal will employ 350 people providing legal advice in the BVI, Cayman, Guernsey and Jersey as well as Luxembourg, and will continue to provide offshore legal advice with a strong footprint in Asia through offices in Hong Kong, Shanghai and Tokyo.
Although the Ogier Group will be splitting into two independent businesses, it is anticipated that Ogier Legal and Ogier Fiduciary Services will continue to benefit from a close relationship. They will continue to share premises and facilities, and Ogier Fiduciary Services will continue to use the Ogier brand for a period to help ensure a smooth transition.
