Summit Group, a provider of fiduciary, administrative and advisory services, has announced the acquisition of R&H Jersey, a well-established Jersey-based provider of trust, corporate and fund administration services.
The acquisition – subject to regulatory approval by the Jersey Financial Services Commission – expands Summit Group's presence in the Channel Islands as it bids to broaden its international service capabilities. The combined portfolio will encompass private wealth services, corporate services, fund administration, and support for Jersey and UK tax matters.
Both businesses will benefit from increased scale and the complementary strengths created through this acquisition, the company said in a statement announcing the deal.
The acquisition of R&H Jersey, which was established in 1972, also expands Summit Group’s service offering to include R&H Jersey’s expertise in fund administration and Jersey tax services. With the addition of R&H Jersey, Summit Group will comprise a global team of over 370 professionals, with offices in Jersey, Guernsey, Switzerland, the UAE, the Cayman Islands, and the UK.
Matt Claxton, CEO of Summit Group, said: "The Channel Islands are a key pillar of our international strategy, and this acquisition reinforces our commitment to growth both regionally and globally. R&H Jersey shares our client-first ethos, strong cultural values and reputation for service excellence. Together, we will create a platform that supports our clients’ evolving needs and unlocks exciting growth opportunities for our people.’
Jen Geddes, Managing Partner at R&H Jersey, added: "Joining Summit Group allows us to combine our local expertise with Summit’s international scale and resources. Importantly, our clients will continue to work with the same trusted team whilst benefiting from the broad suite of services and jurisdictional access that Summit has to offer. We are looking forward to working with the Summit team and excited about the future’.
