Affinity Private Wealth will soon be acquiring Pinnacle Trustees Limited - an independent provider of corporate, fiduciary and trust services - if the JFSC give their approval.
The combined business will have over 50 experienced professionals, serving in excess of 350 clients globally.
Pinnacle's Managing Director, James Wetherall, will be joining the existing Affinity leadership team - David Stearn, Ben Stott, Justin Thomas, Russell Waite and Julia Warrander - as an Affinity Group Director.
Walkers was lead adviser for Affinity on all Jersey law aspects of corporate, banking, regulatory and employment matters, while KPMG & BDO acted as advisors on financial and tax matters.
Ogier acted as advisers to Pinnacle.
“Despite the challenges of the COVID-19 pandemic, we are proud to have completed this deal," Mr Stearn, Affinity's Chief Executive, commented.
"We are confident the transaction is a win-win for our firms, clients, staff and other key stakeholders. Having established Affinity in 2011, in the midst of the European crisis and the shadow of the 2008/09 Great Recession, we have first-hand experience in successfully navigating challenging environments."
Mr Wetherall added: “In choosing a suitable business to partner with, it was important that there was a strong alignment of culture and values and we sought a firm that would focus on retaining our high service standards, as well as taking good care of staff. All Pinnacle directors and employees will be joining the combined group.”
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