Apex has completed its £1.5bn acquisition of Sanne Group in a move that will add 500 employees to the Group in the Channel Islands.
Apex now services nearly $3trn in assets across administration, depositary, custody and under management.
The addition of Sanne brings more than 2,500 people into the Group - 390 in Jersey and 150 in Guernsey - and adds six new locations in Denmark, Japan, Serbia, South Africa, Spain and Sweden.
"With today's announcement we have reached an inflection point in Apex Group's story, as we become one of the largest providers in our space," founder and CEO of Apex Group Peter Hughes commented. Our M&A strategy is not simply about growth, it's about expanding our capabilities and experience to be the best possible service partner to our clients."
He continued: "Bringing Sanne into the Group enables us to offer increased product depth, and a wider geographic footprint. We acknowledge the complementary strengths of each business and are excited to leverage this combined offering to drive the next stage of our evolution."
Martin Schnaier, Sanne Group CEO, added: "The strong performance in the first half of 2022 is testament to Sanne's strengths and market reputation as we have seen record levels of new business wins and organic growth return to our targeted double-digit levels. It also reflects the qualities recognised by Apex Group in acquiring the business and it should ensure that this transformational combination creates a leading, end-to-end service provider to the alternative assets market, with unmatched capabilities and scale. As we now look forward to joining Apex Group, we are confident in the benefits that this deal should bring for our clients and our people across the globe."
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