Gentoo Fund Services has expanded into Europe with the acquisition of SHRM Financial Services (Luxembourg) S.A., a Luxembourg-based provider of fund administration and domiciliation services.
Having gained regulatory approval, the 13-strong Luxembourg team will continue to serve existing clients, supported by Gentoo’s 29 employees based in Guernsey. The company will be renamed Gentoo Financial Services (Luxembourg) S.A.
The acquisition increases the group’s assets under administration to US$15bn.
Managing Director of Gentoo, Christine Whitehorne commented: "By acquiring SHRM in Luxembourg, we have added strength to the services and the skills we offer our clients. Our Luxembourg office’s business focus will include fund administration, domiciliation and fiduciary services."