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ARC set to become subsidiary of Caribbean firm in North American push
by James Phillipps on Jan 20, 2014 at 15:25
ARC Group is set to be acquired by an 'affiliate' of the Labatt family, which would see it become a subsidiary of the firm and establish operations in North America and the Caribbean.
Negotiations with the 'affiliate' are at an advanced stage and ARC group managing director Graham Harrison (pictured) said his employees would retain a ‘significant’ shareholding in the firm following any deal.
Arthur Labatt, who co-founded Canadian mutual fund company Trimark, said: ‘I am absolutely delighted to be able to help ARC expand its services into the North American market.
‘Wealthy families on both sides of the Atlantic desperately need the independent advice and practical guidance on their investment affairs that ARC consistently delivers.’
Harrison added: ‘This represents an extremely exciting development for ARC, providing a secure capital base to underpin our ambitious expansion plans without compromising our independence, which we know is essential for our clients.’
ARC, which was founded in 1995, has around 50 staff in Guernsey and Jersey and its private client indices reached their tenth anniversary in December last year.
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