SGG Group announces successful completion of the Cim Global Business acquisition
SGG Group is pleased to announce that it has successfully completed today the acquisition of Cim Global Business, a leading Mauritian-based corporate, trust and fund administrator with offices in South Africa and Singapore.
As previously announced, through this strategic acquisition, SGG Group will establish a strong presence in the attractive African and South-East Asian markets which have experienced significant growth.
Together with Cim Global Business, SGG Group forms a leading investor services platform with over 800 staff and state of the art technology.
375 of the Group employees are dedicated to servicing funds. SGG Group’s fund manager clients benefit from the scale of the business and resulting efficiencies and investment in the highest quality staff and top tier funds software platforms.
To ensure the seamless integration of Cim Global Business, the company will be rebranded as part of SGG, allowing the combined group to pursue its business development strategy by expanding its range of services and geographies. The rebranding process will be completed within a period of 6 months.
Graham Sheward, Managing Director of Cim Global Business, said "We are pleased to be joining forces with such a renowned international group. We look forward to bringing our expertise and platforms together with the SGG Group and to combining our existing range of services, outstanding teams and geographical footprint. In partnership with SGG, Cim Global Business will be able to expand its servicing capabilities, allowing us to better serve our growing base of clients and further develop our focus on fund administration and servicing corporates and investors in the exciting African and Asian markets.”
Serge Krancenblum, SGG’s Group CEO continued, "We are very excited to find in Cim Global Business a team of professionals that are highly praised by their clients and the market for their level of expertise across a broad range of services. We add to our group impressive platforms in Mauritius, Singapore and South Africa that will further strengthen our servicing capacities and reinforce the focus on fund administration. Cim Global Business management team share our growth ambitions and are equally passionate about supporting the needs of our clients."