Consortia, an independent trust company based in Jersey, has been acquired by Oak as they launch a new private client, corporate services and fund administration group in the Channel Islands.
Oak is the consolidation of three existing businesses - Oak Trust Group, Consortia and Kreston IOM - which have offices in Guernsey, Jersey, the Isle of Man, Malta and Mauritius.
It will be headquartered in Guernsey, with Stuart Platt-Ransom (pictured) as its Chief Executive Officer.
Nicola Gott, managing director of Oak’s Jersey office, said: “Consortia has built a strong reputation in the market for its integrity and client focus. We’re proud to have lasting relationships with our clients and their advisors and to provide them with innovative and competitive solutions. These values are shared by Oak which makes this consolidation a great fit for our business, our employees and our clients.”
Mr Platt-Ransom added: “Oak’s innovative business model is a welcome alternative to the more common leveraged private equity-backed deal. Our approach, which is management-owned and backed by a local investment fund, offers the opportunity for the continued involvement of the original principals from each of the companies acquired and for employees to obtain an interest in the business.
“Our objective is to become the trusted provider of financial solutions that exceed the expectations of institutional and private clients around the world."
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