The purchase represents a “significant milestone” in the development of Ocorian’s growing international portfolio of financial services, the firm said.
Through the acquisition, Ocorian will gain access to over 80 in-country experts in Luxembourg, extend its capabilities in regulated and unregulated funds and alternative investments, including AIFMD (Alternative Investment Fund Managers Directive) depository services and provide a full range of corporate and domicile services.
Established in 2003, MAS brings a diverse client base (private equity, financial institutions, listed companies) as well as a specialised professionals of financial sector (PSF) license for fund administration activities in Luxembourg.
In turn, MAS clients will benefit from an enhanced range of specialist financial services offered by Ocorian’s existing global team across a greater choice of international jurisdictions, including a full family office and private client offering.
Commenting on the merger, Nick Cawley, chief executive of Ocorian, said: “This is a hugely exciting development for us. In addition to an expansion of our Luxembourg capability, across both regulated and non-regulated funds, our clients will now be able to access an enhanced range of services across our alternative investment and corporate services business.”
Stewart Kam-Cheong, formerly chief executive at MAS International, added: “Joining Ocorian allows us to offer our clients a greater range of specialist financial services across a more diverse range of jurisdictions – including Asia. We’re delighted that the regulators in Luxembourg and Mauritius have approved the acquisition and we look forward to working with our new Ocorian colleagues.”