Jon Ravenscroft, Group Chief Executive Officer of Ravenscroft, and Andrew Vartan, Chief Executive Officer of Vartan Ravenscroft, are old school friends and the two companies have had a close working relationship since Ravenscroft was established in 2005.
"Andrew and I have known each other since school and we have a very similar approach to the stockbroking business. We also share the same fundamental values. The team based in Peterborough have also built up strong working relationships with our team in the Channel Islands over the past few years," said Mr Ravenscroft.
"Andrew and I felt that the two businesses were stronger together as it offered real opportunities, for both Ravenscroft and Vartan Ravenscroft to further develop our enterprises, I am delighted that the boards of both companies also felt that this alignment would add value."
Ravenscroft, which is the only locally-owned independent stockbroking and investment management company in the Channel Islands, will continue to operate under its present name with A Vartan Limited rebranding to Vartan Ravenscroft.
Mr Vartan will become chief executive officer of Vartan Ravenscroft with Mr Ravenscroft remaining in his role as Group Chief Executive Officer and supported by the 50-strong team across Guernsey and Jersey.
Mr Vartan, who co-founded the business with his father John Vartan, said that the resulting group would allow the family business to expand its offering.
"A Vartan Limited has built up a strong reputation for providing high quality advisory and discretionary stockbroking services, as well as portfolio management. However, we recognised that in order to offer greater investment opportunities to our clients, the support of a larger group would add value," he said.
"Both companies have a very strong family feel about them and I know that those principles would really appeal to our client base. Both Jon and I want to ensure that we continue to provide the very best service to our clients and the best investment strategies, whilst maintaining our own independence, with a simple but effective investment philosophy."
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.
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