Acquisition of TSME strengthens Vistra's existing Dubai office whilst establishing a presence in Abu Dhabi
Contributed by Vistra Group
11 September, 2017
Vistra, one of the world's leading corporate service providers of international incorporations, trust, fiduciary, private client services, and fund administration, has announced the acquisition of Total Solutions Middle East Ltd ("TSME"). TSME operates within Dubai's International Financial Centre ("DIFC") and Abu Dhabi's Abu Dhabi Global Markets ("ADGM") providing Governance, Risk, Compliance and Human Resources services.
TSME, founded by Robi Dattatreya, who until now has played an active role as board member in the development of the company, has over a decade of experience in the UAE, building an excellent reputation since opening their first office in Dubai in 2004. It did not take long before TSME became the service provider of choice for both MNCs and financial service providers in the region. Following this success, TSME opened another office in 2016 in the UAE capital, Abu Dhabi, to expand its business in the wider region.
Commenting on the acquisition, Arjan Schaapman, Group Managing Director of the Corporate & Private Clients Division at Vistra, said "Our presence in the UAE is in its 7th year and watching it grow has been reminiscent of what we experienced in Asia growing corporate and private wealth which brings with it an increased need for wealth structuring amongst HNWIs, and therefore an upward demand for corporate services. TSME's expertise will complement, and enhance our existing corporate and private client service portfolio in the region. We predict that by strengthening our presence in the UAE we can also begin laying the foundations for further expansion in the Middle East."
The team of 26 at TSME is led by CEO, Jurry de Vries, based in Dubai with Nico van Bockstal, Partner and Director leading the Governance, Risk and Compliance Division and Stewart Adams, Managing Partner, running the office in Abu Dhabi. This team will continue within Vistra with Jurry assuming the role of Managing Director Vistra for the Middle East. This will further strengthen the capabilities of the current Vistra Dubai team led by Barbara Neuerburg, Managing Director, Country Manager GCC.
Jurry de Vries, CEO at TSME, added "Since 2008 we have developed from a single product company in a single jurisdiction into a leading multiple product service provider. In 2014 we implemented a strategy to become a leading service provider in Governance, Risk, Compliance and HR services active in multiple industries and jurisdictions whereby opening our office in Abu Dhabi was a first step in our international expansion strategy. We strongly believe that joining the Vistra family will not only offer our clients a broader network of services and geographical locations, but will also offer our staff additional career development opportunities whilst accelerating the regional expansion we have envisaged."
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