M and A
Vistra Acquires Middle East Business, Deepens Gulf Presence
The financial terms of the acquisition were not disclosed.
Vistra, a provider of
services such as in international incorporations, trust,
fiduciary and private client services, has acquired Total
Solutions Middle East, a business operating in the Dubai
International Financial Centre and the Abu Dhabi Global Markets
centre.
TSME offers governance, risk, compliance and human resource
services.
Financial terms of the deal, which involve acquiring a team of 26
people, were not disclosed.
TSME, founded by Robi Dattatreya, who until now has played an
active role as board member in the development of the company,
has over a decade of experience in the UAE. It opened its first
office in Dubai in 2004. In 2016 TSME opened an office in 2016 in
the UAE capital, Abu Dhabi.
“TSME’s expertise will complement, and enhance our existing
corporate and private client service portfolio in the region. We
predict that by strengthening our presence in the UAE we can also
begin laying the foundations for further expansion in the Middle
East,” Arjan Schaapman, group managing director of the corporate
and private clients division at Vistra, said.
The TSME team is led by chief executive Jurry de Vries, based in
Dubai with Nico van Bockstal, partner and director leading the
governance, risk and compliance division and Stewart Adams,
managing partner, running the office in Abu Dhabi. This team will
continue within Vistra with Jurry assuming the role of MD Vistra
for the Middle East. This will add to the capabilities of
the Vistra Dubai team led by Barbara Neuerburg, MD, country
manager for GCC.
