Elian has agreed terms to buy SFM Europe, a leading provider of
corporate services with more than €1 trillion of assets under
administration.
The purchase of SFM Europe will increase Elian's head count
by 115, to 640 employees, significantly expanding the company's
European footprint and enhancing its corporate services and
structured finance offering. On completion of the deal, which is
subject to regulatory approvals, SFM Europe will operate as a
separate division of Elian.
Announcing the deal today, Elian's CEO, Paul Willing, said
SFM Europe was an outstanding strategic fit for Elian.
"SFM Europe has a long established reputation for providing
the highest level of client service, coupled with industry
expertise and an excellent client base. This deal will complement
Elian's corporate services business and extend the group's
geographic reach in the key European financial markets of
Amsterdam, Frankfurt, Lisbon, Madrid, and Milan," said Mr
Willing.
