Pointon York Group Limited

April 04, 2011 03:00 ET

Acquisition of two SIPP companies from EFG Private Bank

4th April 2011           Pointon York Group Limited

Pointon York acquires SIPP companies from EFG Private Bank

Today, Pointon York SIPP Solutions Limited, a wholly owned subsidiary of Pointon York Group
Limited, announced the acquisition of two SIPP companies from EFG Private Bank.  The deal will see
the Swiss-based bank retain an active interest in their clients as part of a partnership

Pointon York, independent specialists in self-invested personal pensions ("SIPPs"), acquires
Bridgewater Pension Trustees Limited and Halcyon Financial Services Limited, two wholly-owned
subsidiaries of EFG Private Bank. The two companies currently administer approximately 600 SIPP

The transaction will enable Pension scheme members to retain their current financial advisers and
investment managers whilst Pointon York SIPP Solutions will provide technical information and
administration of the SIPP schemes being transferred.

Jo French, Managing Director of Pointon York SIPP Solutions, said:
"Pointon York is delighted to have been chosen by EFG Private Bank to work in partnership with
their clients. There are more than one hundred SIPP administration providers in the UK and we have
been chosen following a stringent due diligence process. This highlighted the quality of our risk
management procedures, our market leading reputation and the longevity of our client

"We are committed to ensuring a successful migration of these SIPPs over the next few months and
look forward to building upon the close working relationship that we have developed with EFG
Private Bank."

Peter London, Chairman of EFG Independent Financial Advisers, said:"Pointon York is our partner of
choice, reflecting its capabilities and the high regard in which it is held in the SIPPs market.
EFG will be able to focus on its relationships with clients, while benefiting from the experience
and technical expertise of Pointon York when it comes to administering SIPPs. It is a real
partnership, as evidenced by the fact that EFG will have two directors on the operating board of
the transferred business for the first year."

Geoffrey Pointon, Chairman and Group Chief Executive of Pointon York SIPP Solutions, commented:
"Today's announcement is a watershed deal for our company.  It marks the start of a strong working
partnership with EFG Private Bank, defined as more than Pointon York simply acquiring specific
assets, but with us significantly adding to the value and quality of service that already exists
between the bank and its customers.

"We are seeing a number of organisations looking to transfer SIPP business to specialist
consolidators like Pointon York. We have the scale and technical expertise to manage these complex
products, and we will continue to offer a more bespoke and beneficial model than many of our

The acquisition has received FSA approval.

The Directors of Pointon York Group Limited accept responsibility for this announcement.

Pointon York Group Ltd
Geoffrey Pointon
Steven Clews                    Tel: 01858 419300

Loeb Aron & Company

Peter Freeman
Jonathan Willis-Richards        Tel: 02076281128

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