Douglas-based trust and corporate services provided Boston Multi Family Office has acquired Aqua Group, a leading family office business based in Jersey, Malta and the UK.
The latter firm was established in 2012 and has been recognised with a number of industry accolades including Citywealth Gold and Trust Company of the Year awards.
Managing director Jo Luce has also been recognised in Citywealth’s Power Women Awards for female leadership.
Announcing the acquisition, which is subject to regulatory approval, Boston chief executive officer Katherine Ellis said it was an opportunity to bring another like-minded business into Boston.
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She said: ‘Aqua Group has taken a very similar approach to Boston in terms of developing long-term trusted relationships with clients that often require complex asset management arrangements and may span several generations.
‘Both businesses share a similar culture and values around integrity, accountability and trust with the same unwavering commitment to providing outstanding levels of service.
‘Like Boston, Aqua Group has taken pride in developing its people and we are delighted that all the Aqua staff will join us, allowing us to offer a broader range of services to clients across all of our jurisdictions, which will now include Jersey and the UK.’
Aqua Group managing director Jo Luce added: ‘Aqua has always appreciated the inherent dynamism of our industry and the deal with Boston will allow us to offer clients and their advisors greater commercial expertise and relevant experience cross-borders, providing opportunities and managing risk to individual appetites.
‘We have always understood that our families require a wide range of services, beyond that which is offered by the traditional financial service providers, and we look forward to working together with Katherine and the Boston team to develop exciting and mutually beneficial new relationships.’
The acquisition of Aqua Group will be the fourth such deal by Boston Multi Family Office over the past four years following earlier acquisitions of IQE Limited, Fedelta Trust Limited and Turnstone (Isle of Man) Limited’s Fiduciary business in 2023.
The company say it supports its long-term strategy of organic and acquisitive growth put into place after a management buy-out in 2019 and subsequent investment from Horizon Capital in 2023.