The acquisition is subject to regulatory approval from the Dutch Central Bank and terms were not disclosed.
It’s purchase of Amsterdam-based Allied expands its network for the first time into a fully-fledged EU member state.
“The combination of being a member of the European Union and having concluded tax treaties with a large number of countries, makes the Netherlands a particularly attractive base for domiciling international business operations,” said Niels Nielsen, chief executive of Zedra.
The deal is also the latest stage of Zedra’s ambitious growth plan which, as it has previously stated, is to double in size over the next five years.
Zedra was only formally launched January this year when an independent investor group bought an 80% stake in the wealth management arm of Britain's Barclays Bank.
The investment group was led by the wealthy Sarikhani and Nielsen families, which had investments in several financial advisory companies, including the Vista group and the Chiltern Group.
The company is currently eyeing an acquisition in Luxembourg which is expected to be announced shortly. In April the company opened an office in Hong Kong to add to an existing operation in Singapore.
Zedra’s latest acquisition in the Netherlands is an independent corporate services provider which has plans to double the size of its Dutch business over the next two to three years.
“This acquisition is an important step in executing Zedra’s strategy and fits in perfectly with our aim to develop our business in carefully selected jurisdictions," said Nielsen.
Zedra’s goal is to build on the tradition it inherited from the purchase of Barclays Wealth & Investment Management to deliver a broader range of corporate and fund services, addressing the growing needs of institutional, family owned businesses and entrepreneurs.
The acquisition expands Zedra’s global network and range of services which includes more than 300 people serving clients globally in nine jurisdictions. It has offices in Jersey, Guernsey, the Isle of Man, the Cayman Islands, New Zealand, Hong Kong, Singapore, the UK and Switzerland.
Zedra’s client base includes high-net-worth individuals and their families, international corporations, institutional investors and entrepreneurs.
The current management of Allied, composed of Ramon Zuketto and Peter Luc Oei, will remain on board.