Vistra acquires HVK Family Office Services in the Netherlands
Corporate services group Vistra has acquired HVK Family Office Services (HVK FOS), part of the consultancy firm HVK in the Netherlands.
Founded in 2011 by a group of former PwC professionals, HVK is an independent consultancy firm in the areas of tax advice, tax structuring, family office services, legal & notarial services and financial advisory services.
The acquisition of HVK’s Family Office Services division enhances and supports Vistra’s recently launched family office services division which is focused on advising, implementing and managing group structures for the family offices of high net worth individuals and families. Apart from generating new and additional family office revenues, it is expected that the family office services will generate new revenue streams for the traditional trust services of Vistra.
Sjaak ten Hove, Vistra Netherlands managing director and global head of family office services, says: “We are delighted to welcome the skilled staff and the high profile network of HVK FOS into the Vistra Group. By bringing both companies together, we will be able to further extend our existing specialized service offerings to single and multi-family offices. The existing international network of HVK FOS could also be a logical starting point for a swift international expansion through selective add-on investments in existing family office services practices.”
Jac Veeger, director of HVK FOS, adds: “We will be joining one of Europe’s fastest growing corporate services groups, which will bring benefits and opportunities to our existing clients and staff. Since Vistra is a leading player in the high net worth individuals and families market segment, the combination of both companies will create a strong platform for further growth in the family office services business. Our clients will be able to benefit greatly from the broader range of services and on the ground presence in other key jurisdictions of Vistra. Obviously, our clients will keep their existing contacts to ensure business continuity.”
Veeger will lead the Family Office Services division in the Netherlands, while ten Hove will become global head of family office services, alongside his current role as managing director for Vistra Netherlands.
HVK FOS is expected to be rebranded under the Vistra umbrella during the first quarter of 2014.
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