London-based asset management consultancy MJ Hudson is to acquire the Jersey administrator Anglo Saxon Trust (AST), a provider of company and trust formation, registrar and administration services.
Anglo Saxon Trust was founded in 2005 and now has more than 300 clients within companies and trusts as well as private individuals.
The acquisition follows the purchase by MJ Hudson of the Dutch ESG business of Spring Associates in July and US/UK benchmarking and analytics business Amaces at the end of 2018. It adds to MJ Hudson's existing operations in Jersey and helps consolidate a growing pan-Channel Islands business for MJ Hudson.
AST represents a valuable and timely cornerstone in our Channel Islands operations"
All existing staff will transition to MJ Hudson and the business will trade initially under the MJ Hudson Anglo Saxon Trust brand. The acquisition separates Anglo Saxon Trust from its sister company, Jackson Fox, a chartered accountancy practice.
Matthew Hudson, CEO, MJ Hudson, said: "We have been talking to the team at AST for some time and we are delighted that they have decided to join our group. AST is a well-established trust and company services business with a strong reputation and a highly experienced team. We are already present in Jersey as a law practice and listing sponsor, and in Guernsey also in administration and law.
"For our group, therefore, AST represents a valuable and timely cornerstone in our Channel Islands operations. In particular, the success of the legal and administration services we already have in Guernsey encourages us that we can scale the AST business initially in its core offering and then later through the addition of wider MJ Hudson group services. More generally, we can offer AST the benefits of our London presence, alternatives focus and proven marketing expertise. "
Roger King, co-founder of AST, added: "MJ Hudson is a compelling partner in AST's next phase of growth. We look forward to helping them to build out their Channel Islands offer. There will be no immediate changes to the way we service clients or the teams involved."