Sanne Group has entered into an agreement to acquire the capital markets corporate administration business of State Street Jersey.
The transaction, expected to be completed by the end of April 2013, will involve the purchase of the capital markets business from State Street, which encompasses 40 specialist staff.
“Sanne’s service platform is centred on specialist capabilities delivered by experienced and bespoke teams and supported by appropriate technology solutions. State Street’s capital markets corporate business has a strong cultural fit with the Group’s existing portfolio while deepening operational capabilities across key service jurisdictions including Jersey, London and Dublin,” said a release from Sanne.
The transaction was facilitated in partnership with Inflexion, a private equity investment business. The combined group, consisting of three core businesses (corporate and institutional, fund administration and private wealth), will employ approximately 200 people in jurisdictions including the Channel Islands, Luxembourg, London, Dublin, Dubai, Hong Kong and Shanghai.
