Guernsey Press

Oak and Fairway plan merger

Guernsey-headquartered Oak Group and Jersey-based Fairway Group are planning to merge to create a consolidated business with a global network.

Published
Fairway Group's Louise Bracken-Smith with Stuart Platt-Ransom of Oak. (25401934)

Oak, a private client, corporate services and fund administration business, launched in March this year. The group has offices in Guernsey, the Isle of Man, Jersey, Luxembourg, Malta and Mauritius with more than 200 employees.

Fairway Group is an owner-managed fiduciary business with more than 100 employees offering trust, corporate, fund administration and pension services in Jersey.

Stuart Platt-Ransom, chief executive officer of Oak, said: ‘Fairway Group has excelled in Jersey creating sustained client growth and building a well-known brand primarily through its pensions and trusts offering. It is seen as the market leader in the pension business and is already making a significant impact with international products in the Middle East.’

He added: ‘At Oak, our aim is to deliver financial solutions that exceed the expectations of our institutional and private clients worldwide. Fairway Group shares our ambitions and growth strategy so this potential consolidation is a good strategic fit for both businesses and I’m excited to work together to incorporate the team into Oak’s multi-jurisdictional business.’

Louise Bracken-Smith, his counterpart at Fairway Group, said the two firms shared the same ethos.

‘Expanding into multiple jurisdictions has been Fairway Group’s strategy for some time so a potential consolidation with Oak fast-tracks these plans and will make us a more significant player,’ she said.

‘This wouldn’t be a leveraged private equity-style deal that has been common in our sector in recent years. The merger will ensure the continued involvement of the original principals of Fairway Group and there is also the potential for employees to acquire an interest in the business thereby aligning their personal interests with the long-term success of the group.’

The consolidation is subject to a process of due diligence and regulatory approvals.

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