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PraxisIFM has announced the acquisition of Cavendish Corporate Investments PCC Limited.
PraxisIFM, one of the largest independent and owner-managed financial services groups headquartered in the Channel Islands, made the acquisition to enhance its pension services offering.
Simon Thornton, CEO of PraxisIFM, said: "Cavendish’s products are extremely complementary to the pension business of PraxisIFM. PraxisIFM has administered Cavendish since its formation in 2008 and its clients and products are well known to the group. We’re delighted that Mike Dewsnap will remain on the board of Cavendish and will continue to provide technical support to the company going forwards."
Mike Dewsnap, Cavendish technical director, commented: "PraxisIFM was a natural home for our business as they have been so closely involved with us since Cavendish’s formation and we are delighted to be joining them and sharing our knowledge and experience."
The acquisition means PraxisIFM now has assets under administration in excess of $42billion and revenues of over £30million.
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