First Names Group Buys Again

Ben Newman, Cengiz Somay and Jason Cowleard

Ben Newman, Cengiz Somay and Jason Cowleard

First Names Group, an independent provider of trust, fund and corporate services has continued its acquisitive run.

The firm has agreed terms to acquire trust and corporate services provider Nautilus Trust Company. This latest acquisition First Names claims, will significantly expand the groups presence in Jersey, Hong Kong and London.

Nautilus was originally founded in 1999 as Beachside Trust Company by shareholders of BBA Chartered Accountants; the company rebranded to Nautilus Trust Company in 2000. In 2006 Nautilus welcomed Jason Cowleard as Chief Executive Officer. He, along with his co-directors, has driven the company’s growth since then.

Hong Kong Boost

This transaction will considerably strengthen First Names Group’s existing international presence and service offering particularly in Jersey, increasing its headcount to over 300 ‘First Names’ in the island.

It will also boost their existing private client offering in Hong Kong and London. Following the completion of the transaction, the trust and corporate services business will be integrated into the Private Client and Corporate service lines, thereby positioning First Names as one of the largest independent providers in the world.

Rapid Expansion

«Once the acquisition of Nautilus completes, the group will have nearly 800 First Names across 14 strategic locations. This is a fantastic achievement considering three years ago we were in just seven locations with 250 First Names,» said Cengiz Somay, Chief Executive Officer at First Names Group.

The latest acquisition is subject to regulatory approval.

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