Elian has agreed terms to buy SFM Europe, a provider of corporate services with more than EUR1 trillion of assets under administration.
Elian sees the acquisition ‘as an outstanding strategic fit for Elian as SFM Europe has a long established reputation for providing the highest level of client service, coupled with industry expertise and an outstanding portfolio of clients.”
According Paul Willing (pictured), chief executive officer of Elian: “This deal complements our corporate services business and extends the group’s geographic reach in the key European financial markets of Amsterdam, Frankfurt, Lisbon, Madrid and Milan.”
Established in 1999, and spanning nine jurisdictions in Europe, SFM Europe provides corporate services for the management of securitisations, structured finance and asset finance to global banks, investment managers and blue chip corporates.
On completion of the deal, which is subject to regulatory approvals, Elian will employ over 640 people across 16 jurisdictions covering all major time zones and key financial markets, with a significantly enhanced presence in continental Europe. SFM Europe will operate as its own division of Elian, and the existing management team will continue to run the business on a day to day basis with Robert Berry, SFM Europe's CEO, joining the Elian executive team.