Guernsey-based PraxisIFM has made its fifth acquisition in
10 months with the purchase of Jeffcote Donnison's (JD) trust
and corporate administration business.
The deal adds the Isle of Man to the independent financial
services Group's list of global jurisdictions and also extends
its existing operations in London and Hong Kong. The acquisition of
JD's UK corporate administration, bookkeeping, VAT preparation
and payroll compliance business includes 19 staff across the three
locations who will all transfer to PraxisIFM.
PraxisIFM Group Chief Executive Officer, Simon Thornton said
that the deal was a natural fit for both parties.
He said: "I'm delighted that we will be able to build
on our UK onshore presence which has already exceeded our
expectations for the first six months of business. The acquisition
also gives us a presence in the Isle of Man, expanding our global
reach further. PraxisIFM and JD have worked together to provide
corporate services to mutual
