Sovereign Group acquires STM Fidecs Management in Gibraltar

Sovereign Group, the Gibraltar-based independent provider of corporate, private client and retirement planning services, has acquired STM Fidecs Management Limited (FML), the Gibraltar-based trust and company management arm of STM Group. Sovereign Group acquired the trust and company services business and the tax compliance business of STM Group for £2.45m. Under the terms of the deal, 18 of FML's existing staff will be relocating to the new offices of Sovereign Trust and the company will be rebranded as Sovereign Fiduciary Services Limited. The rebranded entity will trade alongsid...