First Names Group Enters Luxembourg With Citadel Acquisition

Fund services provider First Names group has completed its acquisition of Citadel Services in Luxembourg.
By Janet Du Chenne(59204)
Fund services provider First Names group has completed its acquisition of Citadel Services in Luxembourg.

Thirty-year old Citadel is an administration organization offering corporate services from consultancy to accounting and, covers aspects of international tax planning, company and trust formation, and on-going administration for all associated structures.

The acquisition of Citadel is the First Names Group’s third acquisition this year and will provide the Group with a much sought after presence in Luxembourg. Earlier this year the Group bought international fund business Moore and trust and corporate service provider Basel, providing the Group with a greater global presence and increased headcount to 460 across nine strategic locations.

Citadel and its team will begin operating under the new brand in the second quarter of 2014.

Managing Director of Citadel, Simon Baker says the acquisition “will integrate the business in to a much larger Group and present mutually beneficial opportunities for the future.”

Morgan Jubb, CEO at First Names Group further comments; “Citadel is a first step towards us gaining a significant presence in Luxembourg to enable us to provide trust, fund and corporate administration services out of this jurisdiction.”

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