First Names Group acquires trust company in Jersey

Thursday 02 October 2014

First Names Group is delighted to confirm it has agreed terms to acquire Jersey trust and corporate services provider Seymour Trust Company Limited.

The strategic acquisition of Seymour (which remains subject to regulatory approval) will expand the Group’s presence in Jersey. This is the seventh acquisition for the Group since its management buyout in July 2012 and major rebrand in early 2013.

The overarching strategy of the Group’s expansion plan is to operate on a global scale through a network of strategically located offices servicing the specific needs of individual clients. The acquisition of Seymour complements the Group’s existing offering, as the trust and corporate services business will be integrated into the Group’s Private Client Service Line.

Once the acquisition completes, the Group will have in excess of 650 ‘First Names’ across 14 strategic locations. The Jersey office located in the heart of St Helier’s financial district will house nearly 150 ‘First Names’ when Seymour’s team of 30 move into 37 Esplanade.

Seymour is an independently owned business run by founders Jonathan Scott Warren and Andrew de la Haye and provides professional services for private client, corporate, and managed trust and family office clients. It’s a well-established Group, with a history going back nearly 30 years when Jonathan formed Corniche Trust Company Limited (CTC) which became part of a long established Chartered Accountancy Practice, the Rosscot Group. In 2006 Andrew and his team who manage a large family office joined with Jonathan, and Seymour Trust was subsequently formed in 2007.

Founder and Financial Director of Seymour, Jonathan said: "This is a fantastic opportunity for us and everyone at Seymour is excited at the prospect of being part of much wider network. I have been really impressed with the Group both in terms of commitment to their people and determination to being the industry leader. I am very much looking forward to the integration and working together to ensure we deliver the best possible customer service to our combined portfolio."

Morgan Jubb, Chief Executive Officer at First Names Group, said: "I am delighted to welcome Seymour to First Names Group. We have grown substantially in Jersey both organically and through the previous acquisition of Basel, we are now one of the largest independent trust and corporate services providers in Jersey and indeed the world. However despite our growth we have still managed to retain a boutique culture and are committed to investing in the people, systems and processes needed to support our strategic objectives. However, our people truly are our greatest asset.”