Mark Pesco, CEO, First Names Group
SGG Group, a leading investor services firm, has acquired First Names Group from AnaCap Financial Partners.
First Names Group is a provider of client corporate and fund services based in Jersey and present in 14 jurisdictions.
With this merger, SGG Group will strengthen its prowess in Jersey, Guernsey, the Isle of Man, Switzerland and Cyprus, which are key markets for the firm. The seller, AnaCap, is Europe’s largest specialist private equity investor in the financial services sector.
The CEO of SGG Group, Serge Krancenblum, said: “This is a key milestone for the SGG Group. First Names Group complements our offering and jurisdictional capabilities in our key client segments. Beside their impressive leadership and client base, First Names Group has a similar history and shares our values. I am certain that there will be an excellent cultural alignment between our two firms and that together we will take our combined group to new heights.”
The deal will see the merged group be a leader in services to ultra-high net worth families, corporates and fund clients. SGG Group will become, by revenue, the 4th largest provider of trust, corporate and fund services in the world.
Employment figures will see the combined group hire 1,500 people in 23 jurisdictions.
The First Names Group CEO, Mark Pesco, commented: “I believe that this is a hugely exciting opportunity as this deal will bring a wealth of new opportunities for our newly-combined businesses, everyone within it and especially for our clients. We have built a great business with the active backing and support of AnaCap. As part of SGG Group we have an extremely bright future and this deal positions us to take this business to its full potential.”