An acquisition spree has seen Guernsey-headquartered financial services firm Oak create a private client, corporate services and fund administration group with offices in the Isle of Man, Jersey, Malta and Mauritius.
The three businesses that were bought were:
- Oak Trust Group based in Guernsey, Malta and Mauritius, which was founded in 1999 as a trust and corporate services provider with South African connections and a focus on long-term client relationships;
- Consortia, which was established in 2004, and is a Jersey-based trust company providing fiduciary, fund and corporate services to global clients; and,
- Kreston, formed in 1998 and based in the Isle of Man, which establishes and administers solutions for international corporations and private clients.
The group employs 160 people across the five jurisdictions.
Oak is backed by the Financial Services Opportunities Investment Fund; a Guernsey-based, International Stock Exchange listed, closed-ended investment vehicle supported by Channel Island investors.
Exceed expectations
Stuart Platt-Ransom has been named chief executive of Oak, he was previously chief executive of financial services firm Legis Group.
Platt-Ransom has more than 25 years’ experience in the financial services sector.
He said: “Our approach, which is management-owned and backed by a local investment fund, offers the opportunity for the continued involvement of the original principals from each of the companies acquired and for employees to obtain an interest in the business.
“We think it’s hugely beneficial for Oak’s long-term success to have the ongoing support of the principals for client relationships, continuity of operations and the buy-in of our employees for the future development of the business.
“Our objective is to become the trusted provider of financial solutions that exceed the expectations of institutional and private clients around the world.”
