Management Buyout Complete For Ogier's Fiduciary Arm
by Jason Gorringe, Lowtax.net, London
25 June, 2014
The management buyout of Ogier Fiduciary Services from the Ogier Group is complete following the receipt of regulatory approval. Ogier Fiduciary Services and Ogier have now become two independent businesses.
Ogier Fiduciary Services was jointly bought by Electra Private Equity PLC and by the company's management team. The management buyout is a first in the sector, and the deal is one of the most significant transactions within the international financial center this year.
There will be no change to client services, relationship teams, or contact details, and Ogier Fiduciary Services and Ogier Legal will continue to share offices and facilities.
Paul Willing, CEO of Ogier Fiduciary Services, said: "The significant investment made available to us as a result of Electra Partners's backing will help us achieve our growth plans. We will invest in our key systems and infrastructure to underpin our high levels of client service and will take advantage of market opportunities as they arise."
"We are very grateful to the Ogier partners for helping us achieve the size and scale that we enjoy today. Although we have benefited from the Ogier brand, we are now looking forward to building a new identity for ourselves which we plan to launch towards the end of the year. This will differentiate our new business and will enable us to grow and develop independently from the Ogier brand."
Alex Fortescue, Chief Investment Partner of Electra Partners, said: "We are delighted this transaction has now completed, and we look forward to working with Paul Willing and his team to continue the development of the business though organic and acquisitive growth."
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