IAG JOINS OAK GROUP

INSIGHT | 04.02.2019

IAG JOINS OAK GROUP

IAG is delighted to announce it has agreed terms, subject to formalities, to join Oak Group Limited (“Oak”), a newly-formed fund administration, corporate fiduciary and private client group.  Oak brings together four existing businesses – IAG’s fund administration business and Oak Trust headquartered in Guernsey, Consortia in Jersey and Kreston in the Isle of Man.

IAG will provide Oak with its first substantial fund administration operation and become the centre of fund expertise within the whole of the Oak business.

Oak has its headquarters in Guernsey and will employ nearly 200 people across Guernsey, Jersey, Isle of Man, Luxembourg, Mauritius and Malta.  Oak is majority-owned by the TISE-listed Financial Services Opportunities Investment Fund Limited (“FSOIF”) https://www.ravenscroftgroup.com/invest/specialist-funds/ci/#FSO-Investment-Fund.  As a permanent capital vehicle, FSOIF has a long term commitment to the financial services industry, including through its investment in Oak.

IAG recognised some time ago that in order to capitalise fully on our growing reputation in the market we should seek a partner who can provide us with a larger platform and complementary skills to help us achieve our goals.

Recognising the needs of clients and staff, we entered into discussions with selected interested parties and concluded that Oak provided the most attractive option, the key benefits being:

  • An excellent cultural fit with other group members and principals, who share IAG’s core belief in the importance of the personal director-led approach to client service
  • Significant opportunities in new jurisdictions for IAG as the only full-service fund operation within the Oak Group
  • The opportunity for members of staff to acquire an interest in the business, thereby aligning their personal interests with the long term success of the Group

Oak made the continued involvement of IAG’s Guernsey-based directors as shareholders and directors in Oak a condition for them to conclude the deal. Each of the Guernsey-based principals, has agreed to this and they will be making a long term commitment by becoming shareholders in the combined group, ensuring the continuity of all aspects of client service delivery.

What does this mean for IAG’s clients:

  • Your existing client director remains your primary contact
  • There will be no changes to your team at IAG who will continue to deliver our customary excellent service
  • Guernsey will remain the centre of operations for IAG’s fund administration services
  • IAG will be able to offer its clients a broader range of services and solutions in Guernsey and elsewhere

In summary, IAG’s clients can be sure that it will be business as usual, with no disruption to the existing business model and operations.

If you have any questions on any of the above, please contact any of the usual client directors:

Alison Simpson, CEO, +44 (0)1481 737910

Mark Woodall, Managing Director, +44 (0)1481 737911

Martin Scott, Director, +44 (0)1481 752969

ALISON SIMPSON

Contributor

ALISON SIMPSON

Alison is the Chief Executive Officer and co-founded IAG. She oversees IAG’s operations and its client services team as well as managing a number of international clients, including property companies, distressed debt funds and funds that specialise in emerging markets.

“I have worked alongside IAG for the last four years advising MedicX Fund. They have provided a consistent, well-organised team who are always available at short notice to help us get deals done."
ALAN PENNELL

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