Orangefield Group Acquires Guernsey's Legis Fund Services
by Jason Gorringe, Lowtax.net, London
09 December, 2014
Dutch corporate service provider and fund administrator Orangefield Group has purchased Guernsey's Legis Fund Services.
Carey Olsen Senior Associate Tony Lane, legal adviser to the Orangefield, said: "Clients are increasingly looking for fund administrators with capability in multiple jurisdictions to reflect their own global profiles and interests and becoming part of an international group allows a local business to share the significant costs and increasingly globalized nature of regulatory, compliance and reporting requirements."
Carey Olsen reported that the deal was the most recent in a number of significant mergers and acquisitions in the financial services sector including the sale by Anson Group Limited of its fund administration business to JTC Group and the acquisition by First Names Group of Mercator, an independently-owned, private client, corporate, fund and trust management business.
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