The company, which has stepped up its activity in recent months, has bought Luxembourg based financial administration company Citadel Services PSF.
Established almost 30 years ago, Citadel offers corporate services from consultancy to accounting and covers aspects of international tax planning, company and trust formation, and on-going administration for all associated structures.
In July, First Names Group bought trust and corporate services provider Basel and in January it acquired international fund business Moore. At the time of the Basel acquisition, the company claimed it had become one the largest in the offshore corporate services sector.
With this latest acquisition, First Names Group’s headcount increases to more than 450 and means it has a presence in nine jurisdictions including the Isle of Man, Jersey, Cyprus, Switzerland, Luxembourg, Ireland, the UK, the British Virgin Islands and Japan.
On the Citadel acquisition, First Names Group chief executive Morgan Jubb said: “We have achieved a great deal in the last 12 months and our expansion into Luxembourg is a natural progression as we have been keen to gain a strategic presence there for some time.
“Citadel is a first step towards us gaining a significant presence in Luxembourg to enable us to provide trust, fund and corporate administration services out of this jurisdiction. The Citadel team are fantastic and I am very much looking forward to working with them.”
