Salamanca Group, a London-based operational risk management and merchant banking firm, has completed the acquisition of Investec Trust Group from Investec Bank after obtaining the necessary regulatory approvals on 31 January.

Salamanca Group, a London-based operational risk management and merchant banking firm, has completed the acquisition of Investec Trust Group from Investec Bank after obtaining the necessary regulatory approvals on 31 January.

The business, which has currently over £4.5 billion ($7.3 billion) in assets under administration, will be run as a stand-alone trust and fiduciary business unit of Salamanca Group.  

"Salamanca Group can now build on a solid foundation of assisting clients to structure, and protect their assets as well as opening up new territories and services to include wealth preservation and succession planning," said Martin Bellamy, chief executive of Salamanca Group.

London-headquartered Investec Trust currently has offices in Jersey, Switzerland, South Africa and Mauritius and employs around 100 people, serving clients such as high net worth individuals and entrepreneurs, financial and professional intermediaries, family offices and corporate entities.

Salamanca Group Trust Services offers vanilla trusts, foundations and company structures, provide multi-family office services, financial and non-financial assets holding and entrepreneurial, as well as philanthropic advice.