International pensions provider Sovereign Group has completed two acquisitions to bolster its position in Portugal and Gibraltar, respectively.
In Portugal, Sovereign has acquired the business of Klisiaris & Klissiaris Lda, trading as Tax Solutions, for an undisclosed sum.
The firm will relocate, together with two employees, to Sovereign’s office in the Algarve region.
Klisiaris & Klissiaris has been owned and run by Georgete Klissiaris, who will stay on as a consultant for around four months.
In time, the firm will rebrand as K & K Lda, and the business will continue to operate under that name.
Gibraltar
In Gibraltar, Sovereign has acquired the business of First Rock Trustees for an undisclosed sum.
First Rock Trustees was founded 30 years ago with an emphasis on serving private clients.
The firm will continue to trade under its own name and its client portfolio will continue to be managed by Emma Cooper.
Founded in 1987, Sovereign now employs over 100 staff in Gibraltar and serves to organise, create and maintain structures, incorporating trusts, companies, personal and corporate pensions in Gibraltar or any other jurisdiction worldwide, for our clients and their advisers.
Future acquisitions
Gerry Kelly, chief executive of the Sovereign Group, said: “We continue to seek out opportunities for acquisition, be it shares in a company or a book of business.
“Not all enquiries will go through once we look at due diligence, so we need a decent portfolio.
“We are currently looking at acquisition opportunities in many of the jurisdictions in which we operate.”
