Tricor, part of Bank of East Asia Group, has bought Aldbridge Group’s corporate services practice. This will be the firm’s debut in the UK and is the start of its expansion across the continent.
The acquired business, which offers accounting and corporate administration services, will now trade as Tricor Aldbridge.
The deal will benefit Tricor’s Asian clients by providing them with services in the UK, but will also give companies in Europe access to its network in Asia, especially in Greater China.
Tricor chief executive Johnny Ng said the deal expands the firm’s network to 18 cities. “There will be no major changes to existing operations in the UK because we want to ensure continuity of the services it offers its existing clients.”
The London office will be led by former Aldbridge directors Richard Tozer and Stephen Page, who will spearhead Tricor’s expansion in Europe.
“It is expected that Tricor Aldbridge will expand rapidly through organic growth and further acquisitions,” Ng added. “Tozer and Page will explore diversifying the range of services offered from the core of accounting, outsourcing company secretarial services and payroll to encompass share registration.”
Tricor offers services such as corporate governance, executive search and selection, IPO work and trust administration. The firm was established in 2000 and today has more than 1,400 staff across ten countries. It has offices in Hong Kong, China, Malaysia, Singapore, Thailand and the Caribbean.