Guernsey-based PRAXISIFM has acquired Nerine Trust, one of
Guernsey's largest independent fiduciary businesses.
It is the fourth acquisition in two years for Channel
Islands-based PraxisIFM, which has seen it grow from employing
300 staff a year ago to 520 following completion of the
acquisition.
Nerine Trust was established in 1997 and provides private client
and corporate administration services to an international client
base. The majority of its 92 staff are employed in Guernsey.
PraxisIFM's Chief Executive Officer, Simon Thornton, said
the deal would bring together like-minded teams.
"In a world where so many of our competitors are owned by
private equity houses or large institutions our continued
independence and majority staff ownership model is highly
valued," said Dr Thornton. "We have known the team at
Nerine for many years and we're delighted they're joining
us. Nerine will take our international office network to 15 and
increase the depth of our
