A major European player in investor services is acquiring an Asian based peer strengthening its presence in the region while adding to its existing Hong Kong operations.
SGG Group, a leading European independent investor services provider, has announced the acquisition of Cim Global Business (CIM). The transaction is expected to complete in Q2 2017 and is subject to regulatory and shareholder approval.
CIM, with assets under administration in excess of $150 billon, has a workforce of more than 250 people across its 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.
Rebranding to Follow
SGG Group is headquartered in Luxembourg and offers administrative and accounting solutions for investment funds, multinational corporations and family offices. The Company has over 550 employees across more than 20 countries.
To ensure the seamless integration of Cim Global Business, the company will be rebranded as part of SGG, allowing the combined group to pursue its business development strategy by expanding its range of services and geographies.
«We are extremely pleased to join forces with SGG Group as it will enable our clients to get access to products and services in over 20 jurisdictions. Our Asian clients shall now have the option of Singapore or Hong Kong as we will have operational offices in both of these financial nerve centers of Asia,» said Udit Gambhir, Managing Director of Cim Global Business Singapore.
