Palatine backed Suntera continues strategic growth journey
Suntera Global has made a a key acquisition, further enhancing its presence in the Channel Islands.
The acquisition of specialist fiduciary services provider, Nedgroup Trust Limited, which is subject to regulatory approvals, will strengthen Suntera Global’s offering as well as extending its reach into an additional tier one jurisdiction in Guernsey.
Nedgroup Trust Limited has a 70 strong team of staff across the Channel Islands, with 50 of those based in Guernsey, a new jurisdiction for Suntera, and supports a significant international client base including a substantial proportion based in South Africa.
Currently owned by Nedbank Private Wealth Limited, Nedgroup Trust provides a full suite of fiduciary services to high-net worth individuals, ultra-high-net worth individuals, family offices and owner managed businesses.
David Hudson, Group CEO of Suntera Global, added: “This acquisition will strengthen our current service offering, enhance our Channel Islands’ capability and expand our reach to an additional jurisdiction. Nedgroup Trust combines strong operational expertise with building lasting relationships and providing a personal, flexible and tailored service – attributes that align perfectly with our own emphasis on creating a high-quality international business established on a strong platform delivering sustainable, responsible growth.
“I am delighted to welcome the Nedgroup Trust team and have no doubt their expertise will contribute considerably to the capabilities and growth of Suntera Global.”
Andy Lees, Palatine Partner, added: “This is the sixth strategic acquisition for Suntera Global since we first invested in the business in 2019, and it’s great to maintain the positive momentum we saw in 2021 with this transaction which brings an experienced and well-respected team of 70 professionals and an international client base into the group.
“Given the strength of the financial services sector in the Channel Islands we are also pleased to add a presence in Guernsey to the Suntera Group. We look forward to continuing to support this global company with its ambitious growth plan.”
The Nedgroup Trust team will add complementary expertise to Suntera Global’s existing office in Jersey and the firm’s wider international footprint in Cayman, the Bahamas, the Isle of Man, Luxembourg, Malta, Hong Kong and Switzerland.