Under the new private ownership of Opera Limited, Oak Group, a fiduciary, corporate, and fund administration business, is to expand with the acquisition of Amber Trust Ltd, a Bahamian fiduciary business.
The acquisition underscores Opera’s ambition to grow its ultra-high-net-worth client portfolio and build a dedicated service offering. This strategic move aligns with Opera’s broader plan for sustainable growth through acquisitions, operational efficiencies, and innovation.
Opera is backed by Pula, the family office of Stephen Lansdown, co-founder of Hargreaves Lansdown, along with like-minded shareholders such as Sealyham, the family office of Tom Scott.
The name Opera stands for O for Oak, P for Pula, and E-R-A for a new era in financial services.
Amber is a well-established trust company that offers proactive fiduciary services and concierge-level service to ultra-high-net-worth individuals and families. Amber’s asset structuring services support families with a global asset base seeking long-term wealth succession.
Their service portfolio also includes family governance advice and assistance with establishing and operating single-family offices. The business is led by managing director Katie Booth, a highly experienced professional with a background in managing the assets of some of the world’s wealthiest entrepreneurs.
Amber will operate under the Oak brand, leveraging Oak’s resources and technology to deliver even greater value to clients. Oak Group, the first business within Opera’s portfolio, has a rich heritage dating back to 1999 and operates from offices in Guernsey, Jersey, Isle of Man, and Mauritius.
“This acquisition is an exciting opportunity to enhance our global reach and provide deeper, more focused services to our ultra-high-net-worth clients,” said Kim Sgarlata, group chief executive officer. “We believe that Amber’s expertise and strong client relationships, combined with Oak’s resources and technology, will create a powerhouse of bespoke services for our clients across the globe.”
Booth said: “We are thrilled to be joining the Opera family under the Oak brand. Their strong commitment to delivering personalised, high-quality services to ultra-high-net-worth clients aligns perfectly with our approach at Amber. I look forward to contributing to Opera’s ambitious plans for the future.”
For Amber’s clients, there will be no change to the high-quality service they currently receive. The integration will begin immediately, ensuring continuity and an enhanced service offering through access to Oak’s resources and expertise.
This acquisition is part of Project Overture, Opera’s five-year strategic plan focused on platform optimisation, organic growth, and inorganic growth. By 2029, Opera will have a significantly larger portfolio of businesses, expanded its geographic reach, and accelerated revenue and value growth, all while maintaining a client-first ethos.
