Following a strategic review of its operations, Ansbacher is focussing on its core business activities namely, Private Banking, Investment Management and Fiduciary.
Hugh Titcomb, Ansbacher's Group Chief Executive Officer commented:
"Following our strategic review, it became apparent that the private equity fund administration business did not fit into the overall objectives of the Group. That said, the team has built the foundations for a sound business with a prestigious client base, a sound reputation and proven high quality of service. We were eager to find a way for this business to continue in its chosen sector and to facilitate the teams desire to go independent. By working together with the Fund Services' management team and the client base, we have found a solution to enable all concerned to achieve their objectives."
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Ansbacher Group announces MBO of Ansbacher Fund Services
- United Kingdom: Thursday, August 10 - 2006 at 09:54
- PRESS RELEASE
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Ansbacher is pleased to announce the successful Management Buy Out of Ansbacher Fund Services. Going forward the new business will be known as Augentius Fund Administration LLP (AFA) and will provide outsourced accounting and administration services to private equity fund groups, both onshore and offshore, from its offices in London and the Channel Islands.
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Posted by Anne-Birte Stensgaard, Senior News EditorThursday, August 10 - 2006 at 09:54 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
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The Ansbacher Group provides tailored financial solutions to high net worth individuals and institutional clients worldwide. The group's services span private and specialist banking, wealth management, investment advice, and fiduciary. The Ansbacher Group operates from the United Kingdom, the Channel Islands, the Bahamas, Switzerland, Qatar and Dubai. In November 2004, Ansbacher became a wholly owned subsidiary of Qatar National Bank (QNB). QNB is the pre-eminent bank in the state of Qatar, listed on the Doha stock market with 50% of its shares held by the Qatar Government.
This information has been approved by Ansbacher & Co Limited, which is authorised and regulated in the UK for deposit taking and investment business.
For further information, please contact:
Mairi Doyle - Head of Communications
Ansbacher & Co Limited
Two London Bridge
London SE1 9RA
United Kingdom
Tel: +44 (0) 20 7089 4700
Direct: +44 (0) 20 7089 4705
Fax: +44 (0) 20 7089 4959
Ralph Jackson / Andy Smith - Account Directors
Lansons Communications
24a St John Street
London EC1M 4AY
Tel: +44 (0) 20 7490 8828
Fax: +44 (0) 20 7490 5460
www.lansons.com
This information has been approved by Ansbacher & Co Limited, which is authorised and regulated in the UK for deposit taking and investment business.
For further information, please contact:
Mairi Doyle - Head of Communications
Ansbacher & Co Limited
Two London Bridge
London SE1 9RA
United Kingdom
Tel: +44 (0) 20 7089 4700
Direct: +44 (0) 20 7089 4705
Fax: +44 (0) 20 7089 4959
Ralph Jackson / Andy Smith - Account Directors
Lansons Communications
24a St John Street
London EC1M 4AY
Tel: +44 (0) 20 7490 8828
Fax: +44 (0) 20 7490 5460
www.lansons.com
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