GSX acquires Grant Thornton Funds Administration and GT Fiduciary Services

GSX acquires Grant Thornton Funds Administration and GT Fiduciary Services

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The Gibraltar Stock Exchange today announces another significant development within the group. Yesterday (30th November), GSX acquired Grant Thornton Fund Administration Limited, the largest fund administrator in Gibraltar, and GT Fiduciary Services Limited, a fiduciary and corporate services provider.

The acquisition of these companies will allow the GSX to develop its product offering within financial services and the fin-tech ecosystem. The Grant Thornton companies will change their names to "Juno" and will form part of the Juno Services Group.

Nick Cowan, CEO of the GSX Group welcomed the move:

“I am very excited for this new stage in our development; we can begin offering a full range of services to our clients within the GSX and GBX ecosystem. In addition, Adrian Hogg, who has served on the board of the Gibraltar Stock Exchange since licensing, will bring additional expertise to our fast-growing group of companies."

As part of the GSX Group's expansion plans, which included the recent launch of the Gibraltar Blockchain Exchange, this acquisition has happened before the distributed ledger technology regulations come in to effect in Gibraltar, on the 1st January 2018.

The new principle-based regulations will regulate businesses that utilise blockchain technology for storing and transmitting value belonging to others. The GBX will come under the scope of these new regulations, which Nick believes is a huge strength to Gibraltar and the GSX Group:

“Gibraltar is leading the way in terms of regulation within this space and the GSX Group will be a forerunner in the market.”

Adrian Hogg, Managing Director of the Juno Services Group and Chairman of the Gibraltar Funds and Investment Association, member of the Finance Centre Council and a partner at Grant Thornton for 10 years added:

“We are delighted to join the GSX Group and look forward to being part of the GSX Group's global offering. We believe that we can achieve significant growth and that joining the GSX Group will open up new opportunities for our clients and new clients alike.”

Adrian Hogg and Freddie White, the owners of Grant Thornton Fund Administration Limited and GT Fiduciary Services, sold to the GSX Group for an undisclosed amount. Part of the consideration was shares in the GSX Group such that Adrian and Freddie are invested, as shareholders, in the ongoing success of GSX, GBX and the Juno Services group.

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