The directors and senior leadership of Stenham Trustees Limited and Cannon Asset Management Limited have announced the successful completion of a management buy-out.
The buy-out has created the Stenham Cannon Group a new, fully independent business with operations in Guernsey and Alderney.
The Group’s operating Companies are licensed by the Guernsey Financial Services Commission and across the Group can conduct fiduciary and investment businesses including fund administration.
Stenham Trustees has been operating in Alderney for 35 years and Cannon Asset Management is celebrating its 25th anniversary in Guernsey.
With over 80 employees in the Group based across the Bailiwick, it is now one of the largest privately-owned employers in Alderney. Prior to the successful purchase, both companies were owned by Peregrine Financial Services, a South African Company.
The Group business is led by Richard van Vliet, who commented, “We are delighted to confirm the success of the buy-out and formation of the Stenham Cannon Group. By combining a wealth of experience with private, independent ownership we will be able to fly the flag for the Bailiwick as a jurisdiction of excellence, with the ability to concentrate on bringing new business to the Islands.
“The move also opens up opportunities to enhance employee participation in ownership whilst providing bespoke expert solutions for trust and company administration, fund administration and wealth management.
“The Stenham Cannon Group will prioritise maintaining excellent client relationships and further developing its core services including boutique fund administration, which focuses on the set-up and incubation of tailored funds. On-Island decision making will allow the Group to be nimble and fast-moving.
“The move out of Peregrine Financial Services, previously South African listed but now a private equity company, will also create further opportunities for the Group to offer international, individual and corporate clients a bespoke, flexible approach to offshore services, bringing attention to the service capability of the jurisdiction.
“The Stenham Cannon Group will continue to work with its partners and peers to deliver excellence in fiduciary, financial and investment fund services whilst providing independent consideration of specific client requirements on a focused and personal level.”
The main picture shows (left to right) John Rivers-Moore, Chris van Vliet, Adaliz Lavarello and Richard van Vliet.