First Names acquires Nautilus

Thursday 21 July 2016

First Names Group is to acquire independent trust and corporate services provider Nautilus Trust Company (Nautilus) in Jersey, Hong Kong and London.

the Group says that all the conditions of the deal have been agreed and the transaction concluded, with regulatory approval.

Nautilus was originally founded in 1999 as Beachside Trust Company by shareholders of BBA Chartered Accountants; the company rebranded to Nautilus Trust Company in 2000. In 2006 Nautilus welcomed Jason Cowleard as Chief Executive Officer who, along with his Co-Directors, has driven the company’s growth.

The acquisition of Nautilus is the latest strategic move by the Group, in a transaction that will cement its position as the largest independent provider of trust and corporate services. The addition of Nautilus will complement the Group’s existing offering, as it continues to deliver on its long-term expansion strategy.

The deal will further strengthen the Group’s existing international presence and service offering particularly in Jersey, increasing its headcount to over 300 ‘First Names’ in the island. It will also add to the Group’s existing private client offering in Hong Kong and London.

Once Nautilus is integrated and rebranded, First Names Group will have nearly 800 employees operating across its network of 14 global offices.

Mark Pesco, Group Managing Director – Private Clients at First Names Group commented:

“The acquisition of Nautilus is a significant milestone for the Group. We are highly ambitious and have delivered exceptional growth over the last few years which would not have been possible without the hard work and dedication of our First Names.  I am really proud of what we have achieved so far both in terms of economies of scale and increased market share.”

Ben Newman, Managing Director of First Names (Jersey) Limited commented:

“Nautilus is a great fit for us both commercially and culturally and I am really pleased to welcome the team to First Names Group. The acquisition will further strengthen our Jersey operation and I am excited about driving the business forward. ”