TMF Group, a global leader in compliance and administrative services, has announced the acquisition of Stonehage Fleming Corporate Services in South Africa, marking a significant step in its expansion across the African continent.
The deal involves the acquisition of two entities—Stonehage Fleming Corporate Services Pty Ltd and Stonehage Fleming Trustees Pty Ltd—collectively known as Stonehage Fleming Corporate Services South Africa (SFCS South Africa). These businesses offer fiduciary and agency services, governance and secretarial functions, tax and acountancy services, and financial management support, primarily for industries and clients engaged in South Africa’s capital markets.
Stewart Adams, TMF Group’s Head of Middle East and Africa, described the acquisition as a critical move for the company’s regional growth strategy. “This acquisition strengthens our presence in South Africa, adds to our global portfolio, and brings in both high-calibre clients and talent. SFCS South Africa’s integration into TMF Group’s global platform will create new opportunities for career development and access to a broader client base.”
Nick Clarke, TMF Group’s Country Leader for South Africa, echoed these sentiments, stating, “This acquisition marks an important milestone for our growth in South Africa. We are thrilled to welcome the employees and clients of SFCS South Africa to TMF Group and look forward to continuing our success together.”
Brendan Harmse, Director of Stonehage Fleming and Head of Corporate Services for South Africa, said the move would provide clients with access to expanded services. “We are proud to be joining TMF Group. The combined business will offer enhanced corporate services capabilities for our clients and create exciting career prospects for our professional team.”
Despite the acquisition, Stonehage Fleming will continue to offer corporate services to its primary audience of families and wealth creators in jurisdictions outside South Africa. The country remains a core market for its Family Office and Investment Management services.
TMF Group, which operates in 87 jurisdictions with 125 offices globally, supports clients across various sectors, including capital markets, private equity, real estate, pharmaceuticals, energy, and technology. With 11,000 experts worldwide, the company provides essential services such as accounting, tax, payroll, compliance, and fund administration. TMF Group works with 60% of the Fortune Global 500 and FTSE 100, as well as nearly half of the top 300 private equity firms.
