ZEDRA has acquired AlleyBe, a leading Maltese corporate service provider, trustee and Virtual Financial Asset (VFA) Agent to grow its operations in Malta. 

In a statement on 8 June, ZEDRA said the deal marked "a step change for ZEDRA's Maltese business, by adding scale, expertise and additional support for corporate clients and high net worth individuals across a wide spectrum of services". 

These include private wealth solutions, accounting and financial reporting services, tax compliance, asset protection and estate planning, fintech services as well as advisory services for marine and aviation structures.

Founded in 2015, AlleyBe's suite of services includes assisting with the setting up, managing and administering companies, trusts and foundations in Malta as well as providing VFA agent services, accounting, tax compliance and regulatory services. 

The acquisition adds 25 new team members to ZEDRA Malta.

Ivo Hemelraad, CEO of ZEDRA, said: "Under the leadership and the entrepreneurial spirit of its founder, Rudolph Psaila, AlleyBe's team managed to develop a successful and compliance-oriented business model over the past seven years. We are delighted to welcome the clients and team members of AlleyBe, which benefit from an unrivalled reputation and an enviable expertise.

"The recent regulations for CSPs issued by the Malta Financial Services Authority  upped the ante for doing business on the island, mapping out Malta as a key market in Europe and a highly attractive business environment for our industry. We look forward to exploring new growth opportunities within the region". 

Rudolph Psaila, CEO of AlleyBe, said: "Driven by our commitment to exceed clients' expectations we have, since inception, focused on ensuring through our dedicated team of professionals and our consistent quality service that clients are continually served instantly and in a comprehensive and professional manner.

"We found in ZEDRA the same ‘client obsessed' focus and values and being part of this international group will enable us to continue offering an unmatched value proposition to assist our clients with international bespoke solutions."

ZEDRA further stated that "in the coming months", the AlleyBe business will be fully integrated within the ZEDRA brand.