Directors, advisers and staff at expat advisory firm Abbey Wealth have completed a management buyout of the business for an undisclosed sum.
The process was led by chief executive Victor France, who was formerly sales director at Skandia International.
Abbey Wealth was established in 2007 by founders Adrian Grove, Calvin Thomas and Liam Speake to offer retirement planning, investment advice and financial planning for international clients, primarily in Europe.
The business has over £750m ($1bn, €890m) assets under advice, more than 3,500 clients, and offices in Ireland, Spain and Switzerland.
Grove said: “We spent 15 years growing Abbey Wealth into the finest client-focussed, pan-European specialist financial advice firm and none of this would have been achievable without the dedication and commitment of absolutely everybody involved.
“Now the right team is in place, Calvin and I feel the time is right to explore new horizons. Abbey has always been a people-oriented business that puts clients first and has a deep understanding of their specialist expatriate needs.
“Since he joined Abbey Wealth seven years ago, Victor has successfully grown, evolved and professionalised the business, and Abbey will continue to flourish under his leadership and direction”.
France added: “This buyout secures Abbey Wealth’s long-term future in an exciting and dynamic marketplace, and provides the momentum for executing new growth strategies.
“I am delighted to have the continued support of our experienced management team and our talented expatriate financial services experts in Ireland, Spain and Switzerland.
“All of us are incredibly grateful to Adrian, Calvin and Liam for their entrepreneurialism and support as the business matured and consolidated. We wish Adrian and Calvin every success in the future”.