Basel Group acquired by First Names Group (formerly IFG)

Fiduciary business First Names Group (formerly IFG International) has announced its agreement to acquire Jersey head-quartered trust company Basel Group (“Basel”).   Basel, run by industry veteran Julie Coward, was established in 1996 and currently employs 100 staff across Jersey, Luxembourg and Switzerland, with associated offices in Mauritius and Monaco. 

Private equity house Anacap backed an MBO of IFG International last year.  The team has been busy since then, rebranding the company as First Names Group and acquiring Moore Management, the Jersey fund specialist.   

Post the Basel acquisition, First Names Group will have more than 400 staff across nine jurisdictions, including Jersey, Luxembourg and Switzerland, making it one of the significant multi-national players in a business with relatively few providers of scale.

The transaction remains subject to regulatory approval. 

The combined business plans to relocate shortly to new flagship premises in the new financial quarter of St Helier.