First Names Group is pleased to announce that it has concluded its acquisition of the fiduciary arm of leading Isle of Man law and professional services group, Cains, following receipt of all necessary regulatory approvals.
Cains is one of the Isle of Man’s principal commercial law and professional services providers, with operations in the Isle of Man and London. Part of the Cains Group, Cains Fiduciaries is based primarily in the Isle of Man and provides fiduciary and accounting services to approximately 150 client groups with assets under administration in excess of £10 billion.
The acquisition of Cains Fiduciaries marks the Group’s latest strategic acquisition and further reinforces its position as one of the largest independent providers of trust, corporate, real estate and fund administration services.
The deal will further strengthen First Names Group’s existing presence in the Isle of Man, which is its second biggest worldwide, taking local head count to over 200.
Integration of the two businesses will commence in August. Cains Fiduciaries will be fully rebranded to First Names Group and the team will join their new colleagues in First Names House. Cains law firm will remain as one of the Isle of Man’s pre-eminent providers of corporate and commercial legal services.
Craig Brown, Managing Director of First Names Group in the Isle of Man, commented:
“I am delighted to share the news of our acquisition of Cains Fiduciaries and welcome the team to First Names Group. This deal marks a significant milestone, both in terms of our local operations and our international Group’s long-term strategic growth plans. It also represents the latest stage of a long journey with Cains, with whom we have worked closely for decades to deliver the highest quality of services and solutions to our mutual clients. Our acquisition of Cains’ fiduciary business constitutes a real meeting of minds and I am excited to see what the future holds for First Names Group and for our continuing relationship with Cains the law firm.”
Andrew Corlett OBE, Managing Director of Cains, added:
“The acquisition of Cains Fiduciaries by First Names Group is a highly positive development for Cains Fiduciaries and its clients around the world. First Names Group enjoys an excellent reputation in the industry and I believe this transaction allows our highly skilled fiduciary and accounting professionals to become part of a much larger international team. The relationship between Cains and First Names Group goes back many years, and I am confident it will continue for many more.”
Photo (L-R): Oliver Webster, Director of Cains Fiduciaries, Craig Brown, Managing Director of First Names Group in the Isle of Man, Andrew Corlett OBE, Managing Director of Cains.