First Names Group is delighted to announce that we have received regulatory approval to acquire independent trust and corporate services provider Nautilus Trust Company in Jersey, Hong Kong and London. All the conditions of the deal have been agreed and the transaction concluded.
Nautilus was originally founded in 1999 as Beachside Trust Company by shareholders of BBA Chartered Accountants; the company rebranded to Nautilus Trust Company in 2000. In 2006 Nautilus welcomed Jason Cowleard as Chief Executive Officer who, along with his co-directors, has driven the company’s growth.
The acquisition of Nautilus is our latest strategic move and will cement our position as the largest independent provider of trust and corporate services. The addition of Nautilus will complement our existing offering, as we continue to deliver on our long-term expansion strategy.
The deal will further strengthen our existing international presence and service offering, particularly in Jersey, where our headcount will increase to over 300. It will also add to our existing private client offering in Hong Kong and London.
Once Nautilus is integrated and rebranded, First Names Group will have nearly 800 ‘First Names’ operating across our network of 14 global offices.
Mark Pesco, Group Managing Director of our Private Client service line, comments:
“The acquisition of Nautilus is a significant milestone for the Group. We are highly ambitious and have delivered exceptional growth over the last few years, which would not have been possible without the hard work and dedication of our First Names. I am really proud of what we have achieved so far both in terms of economies of scale and increased market share.”
Ben Newman, Managing Director of First Names (Jersey) Limited, comments:
“Nautilus is a great fit for us both commercially and culturally and I am pleased to welcome the team to First Names Group. The acquisition will further strengthen our Jersey operation and I am excited about driving the business forward.”