Sanne Group is a provider of

asset management Asset management is a systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings ...

services. It was listed on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

and was a constituent of the

FTSE 250 Index The FTSE 250 Index ( "Footsie") is a capitalisation-weighted index consisting of the 101st to the 350th largest companies listed on the London Stock Exchange. Promotions and demotions to and from the index occur quarterly in March, June, Septemb ...

until it was acquired by Apex Group in August 2022.

History

Established in

Jersey Jersey ( , ; nrf, Jèrri, label=Jèrriais ), officially the Bailiwick of Jersey (french: Bailliage de Jersey, links=no; Jèrriais: ), is an island country and self-governing Crown Dependencies, Crown Dependency near the coast of north-west F ...

in 1988 to provide fiduciary services to private clients, Sanne started to work with corporate customers in 2003. Inflexion Private Equity supported Sanne's acquisition of

State Street State Street may refer to: Streets and locations *State Street (Chicago), Illinois * State Street (Portland, Maine) *State Street (Boston), Massachusetts *State Street (Ann Arbor), Michigan * State Street (Albany), New York *State Street (Manhatta ...

's corporate administration business and took a significant stake in Sanne in return for providing the funds in January 2013. Sanne was then the subject of an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

on the

in March 2015. However, it attracted some criticism because it secretly signed up shareholders before announcing the floatation. There was also some criticism that the company spent £11 million on the floatation. The company acquired Chartered Corporate Services, a

Dublin Dublin (; , or ) is the capital and largest city of Republic of Ireland, Ireland. On a bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, bordered on the south by the Dublin Mountains, a part of th ...

-based business, in February 2016 and, more significantly, International Financial Services, a

Mauritius Mauritius ( ; french: Maurice, link=no ; mfe, label=Mauritian Creole, Moris ), officially the Republic of Mauritius, is an island nation in the Indian Ocean about off the southeast coast of the African continent, east of Madagascar. It incl ...

-based business with $82 billion of assets under management, in December 2016. Then in September 2017, it bought Luxembourg Investment Solutions and Compliance Partners on an earn-out basis. The rising volume of regulation also drove expansion. Following these acquisitions and some subsequent organic expansion, the company's growth rate was described by ''

Investors Chronicle The ''Investors Chronicle'' is a weekly magazine in the United Kingdom for private investors and is published by the ''Financial Times'' Group. The magazine publishes articles about global markets and sectors, and news on corporate actions such ...

'' in March 2018 as "explosive". The succession planning arrangements attracted some criticism when the departure of Dean Godwin as Chief Executive was announced in January 2019 just 12 months after Spencer Daley left his post as chief financial officer; the news unsettled the market, as Godwin and Daley had led the initial public offering, and the share price fell 18% in a day. The company sold its private client business to

JTC plc JTC plc is a provider of fund administration services. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. History The company was established as Jersey Trust Company in Jersey in 1987 to provide fund management ...

in March 2020. In the wake of the

Covid 19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...

, the company has benefited from customers focusing on the management of existing portfolios rather than new fund raising. Commentators suggested that the fact that the pandemic has so far had a minimal impact on client delivery made the company a "rare prospect of earnings resilience". In August 2021, the

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-based company, Apex Group, made an offer to acquire the company at a price per share which valued the company at £1.5 billion.

Operations

The company had approximately £500 billion of assets under administration as at 31 December 2021.

References

External links

Official site
{{Authority control Financial services companies established in 1988 Companies of Jersey 2015 initial public offerings Companies listed on the London Stock Exchange