Friday, August 5, 2011
The Jersey arm of Vistra Group, a leading independent provider of trust, fiduciary, corporate and fund services, has announced the acquisition of Herald Fund Services limited. Existing clients and Herald's fund administration have been transferred to Vistra Jersey.
Robert Sharp, Group Finance Director of the Herald Group, said, “This transaction allows the Herald Group to focus on its traditional private client business and enables us to release capital to invest in this area. We are delighted to have brought this transaction to a conclusion with Vistra and ensure continuity for our clients and staff”.
Chris Burton, CEO and Managing Director of Vistra Jersey said, “The Vistra Group, which has 20 offices in 18 jurisdictions, has a strong commitment to the fund business in Jersey and across our wider global network. This transaction will accelerate our growth and build additional critical mass in Jersey. I am happy that we have been able to finalise this deal with minimal disruption to the fund clients and staff of Herald”.