The Guernsey-headquartered Bachmann Group has announced a partial management buyout of its principal operations.
The deal was finalised on 1 April 2010 and means that now 40% of its shares are owned by the 35-strong senior management team and the remaining 60% will be retained by founder Peter Bachmann.
"The success of Bachmann can be attributed to the talented, driven and committed attitude of the senior management team and their staff," said Gerry Williams, the Chief Executive of the Bachmann Group.
"The MBO recognises this dedication and enables them to further reap the rewards that their skills will inevitably create."
Founder Peter Bachmann said that he was delighted with the deal, which marks the next stage of growth for Bachmann. This could include potential acquisitions and new employment opportunities within the group.
The Bachmann Group, which employs 120 staff, was established in 1974. It is one of the largest independent fiduciary services organisations in the Channel Islands and also has a fund administration arm to the business.
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.
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