Hawksford, the independent trust company, continues its expansion with the acquisition of Trustcorp Jersey Limited (Trustcorp), a Jersey based trust and corporate services provider, to become the largest independent trust company in Jersey. This is the eleventh acquisition made by a Dunedin backed business in the last twelve months and is a prime example of Dunedin’s buy and build strategy of backing businesses with international growth opportunities.
The acquisition foms a significant part of the company’s growth strategy and follows recent expansion into the Middle East and Switzerland. Hawksford opened its Dubai office in June 2011 and acquired L-S&S GmbH, a Zurich boutique private wealth law firm, in August 2011. The acquisition of Trustcorp will boost Hawksford’s capacity and increase headcount by 30, to over 150 staff.
Dunedin Managing Director Shaun Middleton, who sits on Hawksford’s board, commented: “Dunedin is focused on driving growth through international expansion. This is being achieved through pursuing an active buy and build strategy and by strengthening Hawksford’s geographic footprint.”
Since its management buyout in October 2008, Hawksford has gone from strength-to-strength. It was crowned Trust Company of the Year at the 2011 Citywealth Magic Circle Awards and has been recognised as a Top 25 Trust Company by Private Client Practitioner for the second year running. Last year Hawksford was awarded the title of Independent Trust Company Team of the Year for 2010/2011 at the STEP Private Client Awards.
Dunedin’s Shaun Middleton and Oli Bevan worked with the Hawksford team on the acquisitions.