LONDON and LUXEMBOURG, January 12, 2017 /PRNewswire/ --
- New acquisition comes at the end of a year which saw ZEDRA grow rapidly
- The acquisition strengthens ZEDRA's global presence in Europe and is a key move as Luxembourg remains a strategic place in the industry
- ZEDRA's Luxembourg office to provide a platform for trust, corporate and fund services and structuring opportunities
ZEDRA has announced that it has acquired Interconsult, the Luxembourg International Consulting S.A ('Interconsult') in Luxembourg. The acquisition is subject to regulatory approval. Terms were not disclosed.
Interconsult was established in 1992 and as such one of the oldest corporate trust service firms in Luxembourg and is located in the centre of Luxembourg City. A founder member of Luxembourg International Management Services Association asbl, Interconsult is an internationally renowned service provider, providing corporate, administrative and fiduciary services to both corporate and private clients. Interconsult is also a member of Luxembourg Private Equity & Venture Capital Association asbl, a non-profit association created in 2010 to represent, promote and protect the interests of the Luxembourg private equity and venture capital industry.
Interconsult will be fully integrated into ZEDRA's growing network of offices. The acquisition will increase ZEDRA's size to nearly 380 staff worldwide.
The acquisition is part of ZEDRA's growth plan to expand its business in carefully selected jurisdictions and adds to other recent acquisitions in the UK and the Netherlands. It will take ZEDRA's global presence to 11 jurisdictions.
The merger will add value to Interconsult's existing clients through ZEDRA's global business offering and network.
Interconsult's Managing Director, Federigo Cannizzaro di Belmontino will remain in his current position after the acquisition and he will continue to be supported by 20 local staff.
Federigo Cannizzaro di Belmontino has extensive knowledge and understanding of the Luxembourg market. ZEDRA can build on Federigo's wealth of experience to strategically grow its service offerings in Luxembourg going forward.
Further strengthening Federigo's team is Frank Walenta, who has recently joined Interconsult as its Commercial Director.
Frank Walenta, was previously responsible for corporate services in Luxembourg and then in Germany for an international corporate service provider. In his previous role he advised and managed SPVs and the German inbound business of in particular international corporate clients, private equity & venture capital funds, family offices and HNWIs. Frank has been a board member to many leading international companies and private equity funds.
"As we grow our offices and develop our operations, we need to be where our clients want to do business," says Niels Nielsen, Group Chief Executive Officer, ZEDRA, "Luxembourg is that place and therefore constitutes a natural extension for us. It will be a key part of our global network and an important hub for us to provide trust, corporate and fund trust services to our clients, irrespective of their domicile."
Frank Walenta, ZEDRA Commercial Director in Luxembourg added, "It's terrific to be back in Luxembourg. It's absolutely the place for us to be in order to help our clients to achieve more. The service offering of ZEDRA is of the highest quality and Interconsult is a great match for ZEDRA. We differentiate ourselves by our personal relations and our customisation."
Federigo Cannizzaro di Belmontino, ZEDRA Managing Director concluded, "We are delighted to be joining the ZEDRA Group with its established global network. The merger will strengthen ZEDRA's presence in the market and we look forward to being a part of ZEDRA as it continues to grow. We are confident that our long standing industry experience in Luxembourg is a perfect fit with ZEDRA's service offering in strategic places across the world."
For further information, please visit http://www.zedra.com
ZEDRA is an independent, global specialist in trust, corporate and fund services. The company was acquired from Barclays in January 2016 by an independent investor group, with an ambitious plan to grow the company, expanding and strengthening the services it offers to clients around the world. It currently has global offices in 10 jurisdictions, including Jersey, Guernsey, the Isle of Man, the Cayman Islands, New Zealand, Hong Kong, Netherlands, Singapore, the UK and Switzerland.
Based in offices across ten key jurisdictions, its 360-strong team of industry experts is dedicated to creating and delivering bespoke solutions for clients. The business is focused on the strong commitment of an experienced team, fostering an entrepreneurial approach to delivering exceptional client services.
ZEDRA has a diverse client base including high-net-worth individuals and their families, international corporations, institutional investors and entrepreneurs. Under the ownership of a private independent investor group, ZEDRA have the flexibility, boldness and expertise to respond to complex needs whilst maintaining the highest standards of corporate governance in an ever-evolving regulatory environment.