The trust, fund and corporate service provider First Names Group has purchased Citadel Services PSF Sàrl in Luxembourg—its third acquisition of the year.
The acquisition will provide the group with a sought after presence in Luxembourg.
Earlier this year First Names bought international fund business Moore and trust and corporate service provider Basel.
Citadel is an administration organisation offering corporate services from consultancy to accounting and, covers aspects of international tax planning, company and trust formation, and on-going administration for all associated structures.
Citadel and its team will begin operating under the new brand in the second quarter of 2014.
Managing director of Citadel, Simon Baker, said that the acquisition will integrate the business in to a much larger group and present mutually beneficial opportunities for the future.
Morgan Jubb, CEO at First Names Group, said: “We have achieved a great deal in the last 12 months and our expansion into Luxembourg is a natural progression as we have been keen to gain a strategic presence there for some time. Citadel is a first step towards us gaining a significant presence in Luxembourg to enable us to provide trust, fund and corporate administration services out of this jurisdiction. The Citadel team are fantastic and I am very much looking forward to working with them.”
