Helvetic Fund Administration has jumped into the fund administration consolidation game, acquiring Capita Financial Administrator's Gibraltar office.
The Rock's first fund administrator said it has completed the integration of Capita's team and £500 million in assets.
"We have now completed the full integration of Capita Financial Administrators (Gibraltar) Ltd into our operations and welcome new staff members to our company," CEO Nicola Smith said. "We are known for our experience, expertise and high service levels in Gibraltar and are pleased that not only have we been able to retain jobs, but we have also accomplished this with zero disruption to clients during the integration process. Adding over £500 million to our assets under administration positions us as clear leaders in our industry in Gibraltar and provides us with a sound basis for the future growth of our business internationally."
Capita Gibraltar's former parent, Capita Financial Group, continued to offer its Gibraltar office outsourced back-office operations until the deal closed.