The latest developments in financial products and investments from around the world.

Suntera Global, the provider of corporate, fund and private wealth services, has made its second Luxembourg acquisition, signing an agreement to buy NeoTrust Fiduciary Luxembourg SARL.

The agreement comes after Suntera Global bought Reference Financial Services (Luxembourg) in August. 

NeoTrust is based in Luxembourg and was founded in 2017 by Hubert and Julien Guillaume. The firm, which has a team of 14 staff, serves private equity and real estate firms, institutional clients, large and medium-sized companies and high net worth individuals.

The team will add to Suntera Global's office in Luxembourg and the firm's network of offices in Jersey, Cayman, the Bahamas, the Isle of Man, Malta, Hong Kong and Switzerland.

“Our second acquisition in recent months is a signal of our intent to significantly grow our European fund and corporate services proposition. As well as broadening our client base and bolstering our platform in the EU, a market where we see real opportunity for growth, this move adds considerable depth to our existing global network and capabilities,” David Hudson (pictured), group CEO of Suntera Global, said.

Suntera isn’t the only organisation of this type making M&A deals. In March this year, for example, ZEDRA, the corporate services, funds and wealth services firm, bought BFCS, the fund and corporate services arm of Banque Internationale à Luxembourg.

There has been plenty of M&A activity in the funds, administration and corporate services space in recent years. Last year JTC, the international provider of fund, corporate and private client services, agreed to acquire NES Financial, a US-based fund administration services business. The deal comes about a fortnight after JTC bought a private client business in Jersey. In March last year, JTC acquired Sanne’s private client business.

In 2019, SMP Group of Companies, a global professional and financial services group based in the Isle of Man, bought Jersey-based trust and corporate services provider Helm Trust Company. A number of banks, such as Investec, ABN AMRO and Barclays have spun off trusts and associated businesses. In December 2017, investor services firm SGG Group bought Jersey-based First Names Group from AnaCap Financial Services, the private equity organisation, and ZEDRA bought the Barclays UK trusts business, completing that deal in April 2016. More recently, ZEDRA purchased BNP Paribas Singapore Trust Corporation. The last decade has marked a steady flow of deals consolidating the sector.