Maitland, the Luxembourg-founded global advisory and fund administration firm, has acquired the Edinburgh-based R&H Fund Services Limited* business, a subsidiary of R&H Fund Services (Jersey) Limited, thereby accessing the investment trust sector.
The latest acquisition follows that of UK-based Phoenix Fund Services and the opening of offices in Miami and New York. The investment trust assets under administration of some £2bn (€2.3bn) take total global AUA of Maitland to more than £220bn (€258bn) for the firm.
The R&H Edinburgh staff will remain in place, and there will be no changes to the way clients are served, apart from looking to take advantage of the global resources that stem from the business becoming part of the broader Maitland group, particularly in the areas of ACD and AIFM solutions.
Steve Georgala, CEO of Maitland, said: “Given its importance as a regional financial centre, Edinburgh presented itself as a logical next step in our ambitious global growth programme. The excellent track record of R&H Fund Services’ Scottish business, make it a perfect fit for us, and an ideal base from which to bring the wider Maitland offering to the Scottish market. We believe that our combined strengths will open up significant opportunities for growth.”
*Note: The previous version of this article contained an error, now amended to specify that it is the Edinburgh-based R&H Fund Services Limited that has been acquired by Maitland, not R&H Fund Services (Jersey) Limited.