Maitland sets up in Guernsey citing Brexit

Maitland, a global fund administration and advisory firm has established itself in Guernsey after acquiring R&H Fund Services.

R&H is spinning out of its parent business Rawlinson & Hunter and its six-person team will join Maitland.

The larger firm said the acquisition served as an added “post-Brexit alternative to Maitland’s existing capabilities in Luxembourg, Dublin and Malta.”

It is the second deal struck between the two businesses this year. The Scottish fund services business R&H Edinburgh changed hands in May.

It is also the third acquisition in the fund administration market in recent weeks. Estera established a presence in Luxembourg after purchasing Headstart, while Gentoo was sold to TMF Group.

Consolidation has been a constant theme since last year, when Zedra, Northern Trust and Sanne, which made five acquisitions, expanded their businesses.