Zedra (the “Group”), the global independent specialist in trust, fiduciary, corporate and fund services, announces that it has agreed the acquisition of Netherlands-based Allied Corporate Services (“Allied”).
The acquisition is subject to regulatory approval from the Dutch Central Bank. Terms were not disclosed.
Allied, an independent corporate services provider based in Amsterdam, will be merged into ZEDRA’s growing international network[1], further strengthening its corporate and family business services across the region, with plans to double the size of the Dutch business over the next two to three years.
The acquisition is the latest phase of ZEDRA’s growth plan, following the recent acquisition of Azure Trust Jersey and its entry into Hong Kong earlier this year. ZEDRA has embarked on an ambitious programme of expansion, seeking to build on its tradition in private client markets to deliver a broader and stronger range of corporate and fund services, addressing the growing needs of institutional, family owned businesses and entrepreneurs.
The acquisition will add value to Allied’s existing clients through ZEDRA’s global outreach, extensive network and broad range of services. Now with more than 300 people serving clients globally in nine jurisdictions, - ZEDRA has offices in Jersey, Guernsey, the Isle of Man, the Cayman Islands, New Zealand, Hong Kong, Singapore, the UK and Switzerland.
The current Management of Allied, composed of Ramon Zuketto and Peter Luc Oei, will remain on board. They bring to ZEDRA extensive experience within the Dutch market, to strategically build the Group’s Netherlands capabilities further in the future.
Niels Nielsen, Group Chief Executive Officer, ZEDRA, commented:
“This acquisition is an important step in executing ZEDRA’s strategy and fits in perfectly with our aim to develop our business in carefully selected jurisdictions. ZEDRA is expanding its existing international network with the addition of operations in the Netherlands. The combination of being a member of the European Union and having concluded tax treaties with a large number of countries, makes the Netherlands a particularly attractive base for domiciling international business operations. Allied has a strong and solid track record in the market, with a well-earned reputation for seamless delivery and client service. We are confident that Allied’s team will add considerable value to our operations both here in the Netherlands and across ZEDRA’s global network, and will reinforce our capabilities in the corporate trust sector, in particular.”
Ramon Zuketto and Peter Luc Oei, Allied Corporate Services, conclude:
"We are very excited to join ZEDRA and we believe that becoming a part of ZEDRA is an excellent step forward. This marriage of our growing and entrepreneurial firms is characterised by our shared expertise and passion to service clients and we look forward to building the business together going forward."