Maitland lands in Scotland with Edinburgh acquisition

Global advisory and fund administration firm Maitland has announced the acquisition of the Edinburgh-based R&H Fund Services Limited from Jersey-based fund administrator R&H Fund Services.

The move is the latest chapter in a period of global expansion for Maitland, following the acquisition of UK-based Phoenix Fund Services and the opening of offices in Miami and New York.

R&H’s Edinburgh office is primarily focused on the Investment Trust sector and currently service eight funds, representing a total Assets under Administration of approximately £2bn (bringing Maitland’s total AuA worldwide to over £220bn).

The deal will allow the business to draw on Maitland’s considerable size, resources and global expertise - including its market-leading ACD and AIFM solutions - while providing Maitland with a foothold in the UK’s second largest financial centre.

There will be no disruption to the R&H Edinburgh team. Its existing staff - who are widely known and respected locally and internationally, for their skill and expertise - will continue in their current roles. From a client perspective, it will be business as usual with additional opportunities and resources that result from being part of the wider Maitland firm.

CEO of Maitland, Steve Georgala, said: “Given its importance as a regional financial centre, Edinburgh presented itself as a logical next step in our ambitious global growth programme. The excellent track record of R&H Fund Services’ Scottish business, make it a perfect fit for us, and an ideal base from which to bring the wider Maitland offering to the Scottish market. We believe that our combined strengths will open up significant opportunities for growth.”

Martin Cassels, director of R&H’s Edinburgh business, added: “Since we started our Scottish operation in 2011 we have prided ourselves on the quality of service we provide, which has been borne out by the reputation we have acquired. Our commitment to our clients remains as strong as ever, and by joining the wider Maitland firm we will be able to draw on its size and resource to enhance our offering in a number of key areas, particularly ACD and AIFM solutions. We look forward to a bright future together.”