Regulators have approved a management buyout at Boston Multi Family Office and this has now taken place. The buy-out was led by Katherine Ellis, who has become Chief Executive Officer, and Alex McNee, who remains in his post as Managing Director (both pictured).

The MBO was financed with support from high-net-worth investors through Rockpool Investments LLP. Announcing the regulatory approval, Katherine Ellis said that the MBO was a significant milestone for the Boston business: “The new investment through our partners at Rockpool will fuel our strategic organic and acquisition growth plans for the future. This includes bringing new clients and new business to our Isle of Man headquarters, generating more European business through our Malta office and also developing our newest office in the Dubai International Financial Centre.

“We also have the additional opportunity to look for strategic acquisitions, in both our home jurisdictions and further afield, in order to broaden our service offering which will remain focused on private client and family office services.”

Boston Multi Family Office was founded in 2002 as a single family office and grew under private ownership to become one of the Isle of Man’s most famous trust and fiduciary companies.

Although it has remained “very much business as usual” during the MBO transition, Boston has already recruited more staff to stock its compliance, central finance and sales functions.

Commenting on the support from Rockpool, Mrs Ellis said the partnership was a natural fit for Boston: “Rockpool and Boston both offer a bespoke, customer-centric offering for private families and corporates, meaning we understand Rockpool’s investors and Rockpool’s investors understand us. We are looking forward to a mutually rewarding partnership for both businesses.”