The deal, originally announced in July, has been approved by the Jersey Financial Services Commission.
Helm has now begun trading as SMP Helm Trust Company Limited (SMP Helm), as part of a staged integration process that will see SMP’s existing Jersey office merge with the acquired business.
Lewis Buckley, who has been a Director of Helm since 2011, has moved into the position of Managing Director of SMP Helm, providing continuity of leadership. He has also joined the board of SMP Group, alongside fellow Helm Director, Claire Machin.
Buckley commented: “This is an incredibly exciting time for staff and clients of SMP Helm alike. Joining the group means significant, rapid, and targeted investment into our business, allowing us to drive improvements and modernisation across the board. We are also eager to act on the many opportunities for our clients resulting from an expanded service suite and office network.”
Andy Lees, Partner at Palatine Private Equity, said: “We completed the MBO of SMP in June and have quickly followed that with a very significant acquisition in Helm. The Group now has real scale in the Isle of Man, Jersey and the Caribbean. With additional international reach, SMP can offer its clients a truly global service.”