These two acquisitions are important parts of SGG’s expansion plans in Luxembourg, South Africa and South-East Asia.
The acquisition of LuxGlobal Trust Services (LGTS), which is subject to CSSF approval, helps strengthen SGG’s capacity to service entrepreneurs and ultra-high-net-worth families in Luxembourg and abroad.
Founded in Luxembourg in 2009 by Claude Zimmer, LGTS is a professional of the financial sector (PFS), an independent group of companies providing corporate & trust services, wealth planning and fund services for entrepreneurs and ultra-high-net-worth families.
Serge Krancenblum, the SGG's Group CEO, said, "This is a very important step for the development of our private-clients offering, in Luxembourg and beyond. We have clearly stated our growth objectives in this core segment and strive to complement our offering and capabilities with local well-established players."
Another move made by SGG in June is the merger with Cim Global Business, a leading Mauritian-based corporate, trust and fund administrator with offices in South Africa and Singapore. Together with Cim Global Business, SGG Group forms a leading investor services platform with over 800 staff and state of the art technology.
With the deal, the SGG Group will establish a strong presence in the attractive African and South-East Asian markets which have experienced significant growth.
Managing Director of Cim Global Business, Graham Sheward, said " In partnership with SGG, Cim Global Business will further develop our focus on fund administration and servicing corporates and investors in the exciting African and Asian markets.”
These acquisitions will provide lots of positive synergies, for example, SGG will offer LGTS and Cim Global Business clients an international platform that can support them globally, and in return, SGG will benefit from the larger scale of the business, resulting efficiencies and investment in the highest quality staff and top-tier funds software platforms.
The SGG Group is a European leader of investor services which include administrative and accounting solutions to investment funds, multinational corporations and family offices.