SGG Group is pleased to announce that regulatory approval has been received and the transaction to acquire First Names Group has successfully completed.
This acquisition considerably strengthens SGG Group’s reach and capabilities in key markets such as Jersey, Guernsey, the Isle of Man, Switzerland, Cyprus and Ireland with the Group becoming a significant force in the provision of investor services to ultra-high-net-worth families, corporates and fund clients worldwide. As a result of this transaction the newly combined business has become the world’s fourth largest independent investor services firm, now employing over 1,700 people across 22 jurisdictions.
A comprehensive review of the combined group’s brands is currently underway and until this review is completed all businesses will continue to operate under their existing brand names.
Commenting on the acquisition, Serge Krancenblum, our Group CEO, said:
"This acquisition represents a key milestone for SGG Group as we continue with our international expansion. First Names Group perfectly complements our existing client offering and grows our jurisdictional capabilities, giving us a truly global footprint while still allowing us to maintain personal relationships with our clients. Beyond this, First Names Group appealed to us because of its experienced team and client base – which are highly complementary to ours – its similar history and shared vision for the future. We are very proud of this acquisition and excited to work together with the First Names Group team to take our combined business to new heights.”
Our new Group Segment Leader for Private Clients, formerly First Names Group’s CEO, Mark Pesco, commented:
”At First Names Group we’ve been highly ambitious and delivered exceptional growth over the last few years. Joining forces with SGG Group is a hugely exciting opportunity as it brings a wealth of new opportunities for us as a combined business, for our people and especially for our clients. We have built a strong business, and now it’s time to embark upon the next stage of our business journey. I believe we have an extremely bright future ahead of us as part of SGG Group and look forward to working with the SGG Group management team in driving our now greatly expanded group towards even greater success in the future.”