Summit Group, a leading independent provider of fiduciary and administrative services, announced that Dubai-based Sanctuary is joining the group, with support from Sovereign Capital Partners.
The Middle East is a high-growth market for fiduciary services, and the addition of Sanctuary represents a strategic move to capitalise on the burgeoning opportunities within the region, the company said in a media statement.
Sanctuary is a market-leading provider of services to entrepreneurs and families in the UAE, offering a comprehensive range of fiduciary, tax and advisory services.
The joining of Sanctuary will help Summit Group to broaden its range of services to clients, besides increasing the number of international locations to serve them from.
“This is another important milestone on Summit Group’s journey to build a selectively global fiduciary group. The addition of Sanctuary gives us a presence in Dubai, Abu Dhabi and Saudi Arabia in addition to the Cayman Islands, Jersey, Guernsey, Switzerland and the United Kingdom,” the company statement said.
Matt Claxton, CEO, Summit Group, said Summit and Sanctuary share a passion for helping clients achieve success and navigate an increasingly complex world.
“The combination of our businesses is going to bring benefits to our clients and provide more opportunities for members of both teams,” he added.
Deepak Malhotra, CEO of Sanctuary, said becoming a member of Summit Group, with its steadfast professionalism, strong financial backing and growing international footprint, will help the company to provide a more extensive range of services globally to our clients and create opportunities for our people. I look forward to working with Matt and all the Summit Group team.”
Alex Hay, Partner, Sovereign Capital Partners, said the addition of Sanctuary to the Summit Group marks a significant step in its goal to create a selectively global leader in the fiduciary sector.
“This strategic move enhances Summit’s capabilities and extends its reach to key locations in the fast-growing Middle East market,” he said.
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