TMF Group, a leading global provider of compliance and administrative services, today announced the acquisition of the corporate services business in South Africa of the Stonehage Fleming Group, a leading international Multi-Family Office.
Two entities were acquired — Stonehage Fleming Corporate Services Pty Ltd and Stonehage Fleming Trustees Pty Ltd, together forming Stonehage Fleming Corporate Services South Africa ("SFCS South Africa"). These businesses provide a range of fiduciary and agency, governance and secretarial, and financial management services predominantly to industries and clients active in South African capital markets.
This acquisition is crucial to expand our presence in South Africa and enrich our local and global portfolio with great clients and new talent. It will also allow SFCS South Africa to become part of a global platform with increased career opportunities and large global clients and capabilities.
Stewart Adams,TMF Group's Head of Middle East and Africa
This deal is a significant step for our growth in the country. We are delighted to welcome SFCS South Africa employees and clients to our team!
Nick Clarke,TMF Group's Country Leader for South Africa
Brendan Harmse, Director of Stonehage Fleming and Head of Corporate Services for South Africa, added: "We are proud to be joining the team at TMF Group. We are sure that the combined new business will benefit our clients through broader corporate services capabilities and provide our professional team with excellent career opportunities."
Stonehage Fleming will continue to provide corporate services to its core audience of families and wealth creators in jurisdictions outside South Africa. South Africa will remain a core market for its Family Office and Investment Management services.