London-based asset management consultancy, MJ Hudson, has contracted to acquire the Jersey administrator, Anglo Saxon Trust (‘AST’), subject to Jersey Financial Services Commission regulatory approval and certain other conditions.
AST is an established provider of company and trust formation, registrar and administration services and is regulated by the Jersey Financial Services Commission.
The acquisition follows the purchase by MJ Hudson of the Dutch ESG business of Spring Associates in July and US/UK benchmarking and analytics business Amaces at the end of 2018. It adds to MJ Hudson’s existing operations in Jersey and helps consolidate a growing pan-Channel Islands business for MJ Hudson.
AST was founded in 2005 by three senior chartered accountants and has a robust reporting and compliance infrastructure with over 300 clients, (companies, trusts and private individuals). All existing staff will transition to MJ Hudson. The business will trade initially under the MJ Hudson Anglo Saxon Trust brand.
The acquisition separates AST from its sister company, Jackson Fox, a chartered accountancy practice. Two of the founders of AST, Gordon Angus and Nick Walker, will exit AST and concentrate on running Jackson Fox. Although Jackson Fox will now be separate, AST will continue to work closely with the firm. The third co-founder, Roger King will remain running the AST administration business with MJ Hudson.
Matthew Hudson, CEO, MJ Hudson, commented:
“We have been talking to the team at AST for some time and we are delighted that they have decided to join our group. AST is a well-established trust and company services business with a strong reputation and a highly experienced team. We are already present in Jersey as a law practice and listing sponsor, and in Guernsey also in administration and law. For our group, therefore, AST represents a valuable and timely cornerstone in our Channel Islands operations. In particular, the success of the legal and administration services we already have in Guernsey encourages us that we can scale the AST business initially in its core offering and then later through the addition of wider MJ Hudson group services. More generally, we can offer AST the benefits of our London presence, alternatives focus and proven marketing expertise. “
Roger King, co-founder AST, commented:
“MJ Hudson is a compelling partner in AST’s next phase of growth. We look forward to helping them to build out their Channel Islands offer. There will be no immediate changes to the way we service clients or the teams involved.”