First Names Group acquires Mercator

Friday 04 April 2014

First Names Group has become the largest trust, funds and corporate services provider in the Channel Islands after buying Mercator in Guernsey.

This is the sixth acquisition for the group since its management buyout in July 2012 and rebrand early last year. The group now has operations in 12 locations across the world.

Mercator is an independently-owned business providing professional services for private clients, corporate clients, fund services and managed trust companies and employing 59 people. It is a well-established company, with a history going back 30 years when the fiduciary business of Chandlers Chartered Accountants expanded and developed independently, becoming Mercator in the 1990s.

David Preston will continue as the Managing Director of the trust and corporate business and director Mark Douglas will remain in charge of the fund services business.

The Chief Executive Officer at First Names Group, Morgan Jubb, said: “We have been very interested in acquiring in Guernsey for some time and Mercator is perfect for us, both commercially and culturally. I am naturally delighted with the success achieved so far in our acquisition strategy, in terms of economies of scale and increased market share."

Caption: From left to right: Morgan Jubb, David Preston and Mark Pesco