Suntera Global has acquired specialist fiduciary services provider, Nedgroup Trust Limited.
Nedgroup Trust has 70 staff across the Channel Islands, with 50 of those based in Guernsey, a new jurisdiction for Suntera.
Currently owned by Nedbank Private Wealth Limited, Nedgroup Trust provides fiduciary services to high-net worth individuals, ultra-high-net worth individuals, family offices and owner managed businesses.
“This acquisition will strengthen our current service offering, enhance our Channel Islands’ capability and expand our reach to an additional jurisdiction," David Hudson, Group CEO of Suntera Global, said.
"Nedgroup Trust combines strong operational expertise with building lasting relationships and providing a personal, flexible and tailored service – attributes that align perfectly with our own emphasis on creating a high-quality international business established on a strong platform delivering sustainable, responsible growth.
"I am delighted to welcome the Nedgroup Trust team and have no doubt their expertise will contribute considerably to the capabilities and growth of Suntera Global.”
Daniel Bisson, Managing Director of Nedgroup Trust, added: “Over more than 30 years, Nedgroup Trust has instilled its private and corporate clients with the confidence needed to support their ambitions. As a well-respected and established Channel Islands based fiduciary service provider, I am delighted to be taking this next step in our journey, which means we can offer the consistency of service our clients expect from our team, but with an enhanced offer as a result of this transaction.
“We believe becoming part of the Suntera Global family will allow us to broaden and internationalise our client service offering and in doing so give our people opportunities for growth and development that are so important in today’s market.”
Pictured: Teams from Appleby assisted with the acquisition.
Appleby advised Suntera on the acquisition, which remains subject to regulatory approval.
The Appleby team was led by Jersey Corporate Partner Andrew Weaver, with the Jersey Corporate and Regulatory support from Senior Associates Chris Smedley, Gemma Whale and Associate Stephen Parnell.
Group Partner Niall MacDonald, Senior Associate Lara von Wildenrath (both Dispute Resolution) and Group Partner John Bisson (Property) also assisted.
The Appleby Guernsey team was led by Corporate and Regulatory Partner Stuart Tyler, with Guernsey Corporate support from Oratile Jonas and further Jersey and Guernsey law assistance by Group Partner Richard Sheldon (Employment) and Partner Richard Field (Data Protection).
“We are thrilled to have once again provided cross-jurisdictional assistance to the Suntera group on another acquisition to support their continuing and exciting growth strategy," Mr Weaver said. "Our multi-disciplinary team of experts was perfectly placed to add value to the transaction and get the deal over the line.”
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