A fiduciary, corporate, and fund administration business with an office in the island, has completed the acquisition of a firm in the Caribbean.

Under the new private ownership of Opera Limited, the Oak Group, which has an office on Victoria Road in Douglas, has taken over Amber Trust Ltd, a Bahamian fiduciary business.

A spokesperson for the company said: ‘The acquisition underscores Opera’s ambition to grow its ultra-high-net-worth client portfolio and build a dedicated service offering.

‘This strategic move aligns with Opera’s broader plan for sustainable growth through acquisitions, operational efficiencies, and innovation.’

Opera is backed by Pula, the family office of Stephen Lansdown, co-founder of Hargreaves Lansdown, along with shareholders such as Sealyham, the family office of Tom Scott.

With a focus on people, process, technology, and data, and a commitment to embracing innovation to meet the needs of an evolving global market, Opera aims to become a world-class portfolio of businesses renowned for exceptional client service and employee experience.

Amber, which is based in Nassau, is a well-established trust company that offers proactive fiduciary services and concierge-level service to ultra-high-net-worth individuals and families.

Amber’s asset structuring services support families with a global asset base seeking long-term wealth succession.

Their service portfolio also includes family governance advice and assistance with establishing and operating single-family offices.

The business is led by managing director Katie Booth, who has a background in managing the assets of some of the world’s wealthiest entrepreneurs.

Amber will operate under the Oak brand, which aside from Douglas has offices in Guernsey, Jersey and Mauritius.

Group chief executive Kim Sgarlata said: ‘This acquisition is an exciting opportunity to enhance our global reach and provide deeper, more focused services to our ultra-high-net-worth clients.

‘We believe that Amber’s expertise and strong client relationships, combined with Oak’s resources and technology, will create a powerhouse of bespoke services for our clients across the globe.’

Managing director of Amber Katie Booth added: ‘We are thrilled to be joining the Opera family under the Oak brand.

‘Their strong commitment to delivering personalised, high-quality services to ultra-high-net-worth clients aligns perfectly with our approach at Amber.

‘I look forward to contributing to Opera’s ambitious plans for the future.’

The Oak Group say for Amber’s clients, there will be no change to the high-quality service they currently receive.

The integration will begin immediately, ensuring continuity and an enhanced service offering through access to Oak’s resources and expertise.

This acquisition is part of Project Overture, Opera’s five-year strategic plan focused on platform optimisation, organic growth, and inorganic growth.

By 2029, Opera hopes to have a significantly larger portfolio of businesses, expanded its geographic reach, and accelerated revenue and value growth.

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