SGG Group, a leading European independent investor services provider, has acquired Cim Global Business, a provider of fund, trust and corporate administration services, with AUM of more than USD150 billion.
The firm has a dedicated workforce of more than 250 people across offices in Mauritius, Singapore and South Africa.
The Singapore office is part of the transaction and through this acquisition, SGG will strengthen its presence in Asia in addition to its Hong Kong operations.
SGG Group is headquartered in Luxembourg and offers administrative and accounting solutions for investment funds, multi-national corporations and family offices.
It has over 550 employees and offers a comprehensive range of value-added services to customers across more than 20 countries.
This strategic acquisition will enable SGG Group to establish a strong presence in the attractive African and South-east Asian markets.
The transaction is expected to complete in the second quarter of 2017, subject to regulatory and shareholder approval.
To ensure the seamless integration of Cim Global Business, the company will be rebranded as part of SGG.
Last year, Cim Global Business appointed Udit Gambir from Standard Chartered as managing director for Singapore and business head for Asia. Gambhir led initiatives for investors and intermediaries at Standard Chartered.
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