SGG Group, a leading global investor services firm, providing trust, corporate and fund services, has acquired Iyer Practice, a family-run business, offering a number of advisory and compliance solutions to corporates and private clients in Singapore and Hong Kong.
SGG Group has grown rapidly over the past two years through an ambitious buy-and-build strategy to reinforce its presence in key markets. Following the completion of the acquisition of First Names Group (which is subject to regulatory approval) and with the acquisition of Iyer Practice, SGG Group will have over 1,700 professionals globally and 130 professionals working for its Asian business through its offices in Hong Kong, Singapore, Japan and India.
Iyer Practice has a strong management team who will, following the acquisition, maintain leadership roles within SGG Asia. When paired with the existing senior management team of SGG Group and First Names Group, this will uniquely position the firm in the market. Shanker Iyer, the founder and Chairman of Iyer Practice, will become the Executive Chairman for SGG Asia.
Serge Krancenblum, SGG Group’s CEO, said:
“I am very pleased that Iyer Practice will join forces with SGG Group. Through this strategic acquisition, we will establish a strong presence in the attractive Asian markets which have experienced significant growth. We have found in Shanker, Sunil and Sanjaya team which has a strong reputation for quality and deep local market expertise that will allow us to further develop our corporate and private clients offering in Asia and I am delighted that the three of them will remain as an integral part of the business in senior management positions.”
Shanker Iyer, Chairman of Iyer Practice commented:
“This deal is a significant step for the Iyer Practice business and presents great opportunities for everyone in it and especially our clients. As part of SGG Group we will be able to offer a greater range of services to our clients and leverage our global reach across 23 jurisdictions. We look forward to building on our success to date with SGG Group.”