Alpadis Group acquires Louvre Fiduciary (HK) Limited in Hong Kong, growing customer and employee base and expanding into new sectors and markets
HONG KONG, 2 October 2018 – Alpadis Group, the provider of multi-jurisdictional corporate and bespoke fiduciary services, announces today the purchase of Louvre Fiduciary (HK) Limited in Hong Kong, with all operations, employees and customers integrating into Alpadis Group. The acquisition is pending regulatory approval. The expansion allows the firm to increase its services in Hong Kong and expand into new sectors and follows the recent appointment of Samy Reeb as Managing Director of Alpadis Trust (HK) Limited, who leads the trust and wealth planning segment of Alpadis Group in Hong Kong.
“Hong Kong is one of the biggest growth areas for Alpadis Group and we have enjoyed significant interest in corporate and wealth preservation services in what is one of Asia’s biggest financial services hubs” says Alain Esseiva, CEO of Alpadis Group, adding “That is why our acquisition of Louvre Fiduciary (HK) Limited is a perfect fit for us. We will be able to provide a range of wealth and corporate services to more firms, family offices and individuals, and also expand into newer sectors such as insurance with the new capabilities that we have. Last year we expanded in Singapore through an add-on acquisition, and this year we are continuing our growth in Hong Kong, and I look forward to continuing our Hong Kong success”.
Alpadis Group will take on Louvre Fiduciary (HK) Limited’s customer base, which includes local firms, international multi-national companies, and individuals. Furthermore, the partnership with Louvre Group – the Guernsey-based parent of Louvre Fiduciary (HK) Limited – will allow Alpadis Group to handle clients referred to from Louvre Group’s international offices, and vice versa.
“The Louvre Group has decided to focus its business strategy on the provision of Family Office, Fiduciary and Fund Services to Private and Corporate clients through its operations in Guernsey, Geneva and the UAE” says Derek Baudains, CEO of Louvre Group, adding “We are delighted with Alpadis Group’s purchase of our operation in Hong Kong, as this will allow great choice for our clients, and allow each of us to focus on our core jurisdictional strengths in a spirit of international cooperation”
Hong Kong’s economy has grown faster than expected over the past few years, growing 3.8% in 2017, and has grown by 4.7% in the first quarter of 2018. Continued interest in the Special Administrative Region (SAR) from international businesses due to it pro-business environment and stability, and interest from wealthy individuals thanks to its concentration of financial and support services has helped sustain this progress. “Alpadis Group’s latest acquisition will allow us to take advantage of Hong Kong’s economic growth and position us to continue our exceptional level of high quality fiduciary and wealth preservation services, as well as tap Louvre Group’s own domain expertise and global network” adds Dominik Heer, COO of Alpadis Group, continuing “Louvre Fiduciary (HK) Limited have exceptional knowledge and expertise in the insurance sector, and we all look forward to welcoming our new colleagues and working with them to service this industry. These are exciting times for Alpadis Group and we are looking forward to the opportunities that this acquisition will bring”.