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First Names Group completes Basel acquisition

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First Names Group has completed its acquisition of The Basel Group following exchange of contracts and regulatory approval in Jersey and the British Virgin Islands.

This is the group’s second strategic purchase this year. The transaction significantly expands its presence and service offering in Jersey and Switzerland.
 
First Names Group bought Moore Group in January this year which expanded its fund offering both in Jersey and the Far East.
 
Basel will rebrand by the end of the year, positioning First Names Group as one of the world’s largest offshore trust, funds and corporate service providers with over 400 employees operating out of seven strategic locations.
 
Morgan Jubb, recently appointed chief executive of First Names Group, says: “First Names Group has ambitious plans for growth. We are united behind our brand and culture and we will continue to develop and nurture it whilst evolving the business into a truly global operation.”
 
Julie Coward (pictured with Jubb), chief executive of Basel, says: “We did not enter into this agreement lightly; great consideration was given to ensure it was the right fit culturally and that our clients would continue to receive the high level of service they are accustomed to. First Names Group matched all the criteria and we are confident the transition will provide even greater opportunities for our staff and our clients. ”

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