Oak includes three existing businesses – the Oak Trust Group in Guernsey, Jersey-based Consortia and Kreston IOM.
Headquartered in Guernsey, Oak employs 160 people across the five jurisdictions with Stuart Platt-Ransom as the chief executive officer. Previously chief executive of the Legis Group in Guernsey, Mr Platt-Ransom has more than 25 years’ experience in the financial services sector.
Oak is backed by the Financial Services Opportunities Investment Fund, a Guernsey-based, closed-ended investment vehicle supported by Channel Island investors and listed on the International Stock Exchange. The fund’s investment objective is to attain long-term capital growth and income streams by investing in a diversified portfolio, principally financial services businesses based in offshore financial centres.
‘Oak’s innovative business model is a welcome alternative to the more common leveraged private equity-backed deal,’ Mr Platt-Ransom said.
‘Our approach, which is management-owned and backed by a local investment fund, offers the opportunity for the continued involvement of the original principals from each of the companies acquired and for employees to obtain an interest in the business.
‘We think it’s hugely beneficial for Oak’s long-term success to have the ongoing support of the principals for client relationships, continuity of operations and the buy-in of our employees for the future development of the business.’
Mr Platt-Ransom said that they were aiming to become the trusted provider of financial solutions that exceed the expectations of institutional and private clients around the world.
With clients in 50 countries, the Oak group has assets under administration of £20billion.
