Vistra acquires tax driven family office boutique, HVK Family Office Services
Vistra has announced the acquisition of HVK Family Office Services, part of the consultancy firm HVK in the Netherlands. With this acquisition, Vistra strengthens its recently launched Family Office Services Division.
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.
The acquisition will fall under the responsibility of Sjaak ten Hove (pictured), Global Head of Family Office Services at Vistra. Sjaak joined Vistra after it acquired the Monterey Group, a fiduciary business which Sjaak co-founded and which had become firmly established in the Netherlands. Monterey Group was ranked eleventh in the Dutch marketplace at the time of its acquisition by Vistra. At the beginning of 2013 Sjaak joined the OV Group Executive Committee and was recently appointed as Global Head of Family Office Services.
Jac Veeger, Director of HVK FOS, said, “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.”