First Names Group, one of the world’s leading trust, corporate and fund administration service providers, has appointed Cengiz Somay as Group Chief Executive Officer (CEO). Current CEO Morgan Jubb will take on the role of Group Executive Chairman. The appointments are effective immediately.
These changes reflect the evolving needs of the business, which is concluding an intensive period of acquisitions and structural change. The Group is now turning its attention to consolidating its position and continuing to drive its organic growth strategy.
Cengiz originally joined the Group in June 2014 as Group Managing Director of Operations and was responsible for the Group’s Finance, HR, IT, Change and Treasury Teams. As CEO, Cengiz will oversee the day-to-day management and leadership of the business, incorporating its key service lines: private client, corporate, funds and leisure services. Cengiz has enjoyed a very successful career in financial services – since arriving in Jersey in 2005 he has held leadership roles in EMEA and Asia for a number of international professional services providers, namely Mourant, State Street and Standard Bank.
Morgan will assume the leadership of the Board and be responsible for corporate development and the Group’s strategy. Morgan, whose career has been largely centred within the mergers and acquisitions industry, joined First Names Group as the MBO from IFG completed in July 2012.
Declan Kenny, the current Executive Chairman, will remain a key member of the leadership team as Group Executive Director with a primary focus on the organisation’s expansion into Asia and its Leisure Division.
Speaking about his new role Cengiz said:
“First Names Group is a unique organisation, where the emphasis on its clients and people is evident in everything it does and I feel extremely lucky to be part of such an extraordinary global team. The Group is coming to the end of a period of unprecedented inorganic growth and structural change which has provided it with a significant presence and expertise in each of its 14 locations. Our investment in our global network and in our people puts the Group in an excellent position to capitalise on its proven business development initiatives. It is certainly a very exciting time for me to take over the reins and I am very much looking forward to ensuring that the Group continues to progress and flourish.”
Morgan further commented:
“I have been really impressed with Cengiz since he joined us. He has a real passion for the Group and its people. He is a very talented businessman and I have every confidence he will take on this role with his usual calm approach, which has made him so well liked already. He really is a pleasure to work with and I could not think of anyone who is more suited to lead the Group as it harnesses the advantages offered by its expanded network to ensure strength in depth and long-term prosperity.”
Photo - (left to right) of Morgan Jubb and Cengiz Somay.
