PTL taken over by global fund solutions provider

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Trustee firm PTL has been bought by Zedra, a corporate services, active wealth and fund solutions provider based in Switzerland.

The deal in the pensions space follow's Zedra's acquisition of trustee secretarial firm Inside Pensions in February last year.

PTL has been providing defined benefit and defined contribution trusteeship since 1994 and was bought out by its management in 2017, separating it from law firm Pitmans.

Zedra, a global firm with offices based mainly in tax havens like the Cayman Islands, Jersey and more, said the latest acquisition complements its offering of support and governance services to pension trustees. Its pension services arm now consists of five offices in London, Reading, Leeds, Birmingham and St Albans, with 70 employees.

“Over the last 27 years PTL has grown into one of the leading independent professional trustee firms in the UK. We are now excited to be joining a successful global organisation that complements our brand perfectly. Being part of Zedra, who share our cultural values and work ethics, will enable us to continue to offer an even wider range of governance services to our clients," said Richard Butcher, managing director of PTL.

David Rudge, Zedra's head of UK, commented: “The acquisition of PTL reinforces our position as a market leader for outsourced pension services in the UK pension space and allows us to provide even greater service to those who are committed to providing the highest quality pension schemes possible.

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