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Merger Creates Guernsey Fund Administration Powerhouse

Monday, September 26, 2011

Two Guernsey firms have announced that they are to merge to create the largest independent fund administration business in the island.

In the 50:50 deal, described as a merger of equals, Anson Fund Managers Limited and Bordeaux Services (Guernsey) Limited will join forces and trade under the Anson name.

Peter Radford, of Bordeaux, who will be the Chief Executive Officer of the merged entity, said that the move will provide critical mass and, importantly, enable the business to remain independent. Anson Principal, John Le Prevost, will become a Senior Director and Professor Richard Conder will become the new Chairman of Anson Group Limited.

Radford noted that there are a number of synergies and very little overlap between the two businesses, whose amalgamation will mean a new headcount of around 45. Bordeaux specialises in private-equity fund administration and open- and closed-ended funds, while Anson has a reputation for closed-ended work, including London-listed investment companies, limited partnerships, and property and securitisation vehicles.

Anson’s team includes a number of highly-qualified staff based in the UK who visit Guernsey regularly.

Radford said: “We have both been in the business for around fourtteen years and we have grown as much as we can as individual businesses. We would rather be consolidators than consolidated. It’s possible that there are too many fund administrators in the marketplace and, to develop to the next level, size is important.”

Le Prevost said that it was important to him that Anson remained independent of any large financial institution but had the critical mass to drive the business forward.

“The world we now compete in requires firms to have stature and substance. The merger ticks both boxes brilliantly. It accelerates the combined new Anson Group to become the largest independent fund administration company in Guernsey, however measured,” he said.

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Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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