Ravenscroft has completed its acquisition of WH Ireland (IoM) following approval from the Isle of Man Financial Services Authority, it was announced this morning.
The acquisition by Ravenscroft Holdings Limited, the parent of the investment services company, of 100% of the issued share capital of WH Ireland (IoM) means Ravenscroft now has a presence in the Isle of Man for the first time with all six of WH Ireland's staff in the island moving across.
"Having an experienced and enthusiastic team on the ground, as we now have in the Isle of Man, will be key to our success. Our new colleagues share our commitment to client service and we are excited about growing our client base, expanding our offering and becoming part of the local community," said Ravenscroft group managing director, Mark Bousfield.
With immediate effect, the company name will be Ravenscroft (IoM) Limited but will trade as Ravenscroft."
"We want to thank the Isle of Man Financial Services Authority for its proactiveness. Their support and the positive response we have had from clients and the wider business community has been very welcome."
With immediate effect, the company name will be Ravenscroft (IoM) Limited but will trade as Ravenscroft. The entire team, who will continue to be headed up by directors Will Corrin and David Bushe, will remain at St George's Tower in Hope Street.
"Since the news was announced we have been working closely with our new colleagues at Ravenscroft's head office in Guernsey to ensure that the service we provide our clients is unaffected. Our new computers and phone systems are set up, we have been liaising with the investment teams to discuss integration of our investment approaches, and working with the marketing team on a launch campaign, which will include advertising and community support. It has been a busy but exciting time," said Corrin.
Bushe added: "It's been fantastic to see how enthusiastic Ravenscroft is about having a presence in the Isle of the Man for the first time and we are all delighted to be part of the group, which has £7.45bn of assets under administration and more than 120 employees across offices in Guernsey, Jersey, the UK and the Isle of Man."