Maitland Group

Maitland

Company type	Privately owned, independent company
Key people	Michael Solomon (Chairman), Steven Georgala (Chief Executive Officer)
Services	Fund administration, fiduciary, and investment consulting services.
Number of employees	1200+
Website	www.maitlandgroup.com

Maitland is a global provider of fund administration, multi-jurisdictional legal, tax, fiduciary and investment advisory services. The firm has in excess of US $280 billion assets under administration and is privately owned by management and staff, with services from 15 offices in the British Virgin Islands, Canada, Cayman Islands, Ireland, Isle of Man, Luxembourg, Malta, Mauritius, Monaco, South Africa (Cape Town and Johannesburg), United Kingdom and United States (Miami and Virginia).

History

Steven Georgala, CEO of the Maitland group since 2006.

Maitland was founded in 1976 in Luxembourg ] by Eric Pfaff, a South African lawyer. The group provided legal and tax expertise to South African corporates, including Anglo American plc and De Beers. In due course the executives of those corporates asked for private client services and they started offering offshore services. In 1982 Maitland acquired a fiduciary business in Geneva.

In 2002, the firm converted from a law firm partnership to adopt the form of a company. In 2006, Steve Georgala was appointed as CEO. Through the acquisition of FinSource, a fund administration company based in Cape Town, South Africa, the firm further developed its international Fund Services business, which led to the adoption of the international SunGard administration platform in 2005.

Investment services were further developed post-2000 with the development of discretionary portfolio management and consulting and a suite of multi-asset class products in the Constantia brand.

In July 2012, the firm acquired a management company InterOcean Management Services in Mauritius. In November 2012, the firm acquired Admiral Administration, a specialist hedge fund administrator in the Cayman Islands, along with its hedge fund technology platform "Advent". In 2015 the firm acquired Phoenix Fund Services to offer fund oversight and administration to investment trusts, Ucits, Nurs, QIS, hedge, private equity, real estate and VCT structures across Europe.

Operations

Maitland’s holding company, Maitland International Holdings, is registered in Malta. The firm has associated law firms in England and Wales, the Isle of Man, Luxembourg and South Africa, as well as licensed trust, wealth management, and fund administration entities registered in various jurisdictions . Maitland’s fund administration hub is based in the lower-cost jurisdiction of South Africa.

Management

The Chairman of the Board is Michael Solomon,; the Chief Executive Officer is Steven Georgala

Notable deals

1999. Advised in respect of the migration of Anglo American Limited and Minorco SA from South Africa to the UK.

2001. Advised in respect of the $19 billion transaction to take De Beers private.

2002. Advised in respect of the disposal by Anglo American of its investment in ZCCM Investments Holdings to the Copperbelt Development Foundation.

2011. Advised Brait SE on the largest non-bank capital raising in the history of South Africa

2012. Advised NYSE-listed Flagstone Reinsurance on its cross-border merger with Validus

2012. Advised the Oppenheimer family in respect of the $5.1 billion disposal of the family’s 40% interest in De Beers to Anglo American plc for $5.1 billion.

Awards and rankings

2015. Best administrator – under $30bn client service in the HFMWeek US Hedge Fund Services Awards, HFM Awards

2015. Finalist for Multi-Family Office Team of the Year, STEP

2015. Most innovative fund administrator under $30 bn, HFM Awards

2015. Best administrator – under $30bn single manager, HFM Awards

2015. Best Fund Administration Team, Investment Week Fund Services Awards

2015. Best European Hedge Fund Administrator, Hedgeweek Awards

2015. 1st in the archetype "Internationally Wealthy Family", Business Day Investors Monthly Top Private Bank & Wealth Manager Awards

2014. 1st in the archetype “wealthy executive” and 2nd in the archetype “internationally wealthy family”, Business Day Investors Monthly Top Private Bank & Wealth Manager Awards

2014. Best administrator – under $30bn overall, HFM Awards

2014. Best Fund Service Provider, Investment Week Fund Services Awards

2013. Best administrator under $30bn overall in the HFM Week US Hedge Fund Services Awards.

2013. Best North American Hedge Fund Administrator 2013.

2013. Maitland is ranked in Chambers UK.

2013. Iris Harvey and Anthony Markham, both partners at Maitland, have been recognised by Citywealth Leaders List.

2013. Maitland was named 2013 South African Funds Firm of the Year in the Finance Monthly Global Awards.

Corporate social responsibility

Nelson Mandela Children’s Fund. Maitland is a Lifetime Founder Club Member of the Nelson Mandela Children’s Fund. In 1996 Maitland set up the UK affiliate for the fund which it provides financial and legal support, office space and infrastructure services.

Ditikeni Trust. The Ditikeni Trust owns 10% of Maitland’s South African fund services business. The financial benefits of this trust flow to 22 non-profit beneficiary organisations operating in South African rural communities.

Enlighten Education Trust. Maitland supports the Enlighten Education Trust, an integrated educational training and entrepreneurial development centre near Cape Town, South Africa.

TSiBA. Maitland supports TSiBA, a private, not for profit business school that helps people who cannot access opportunities to jump ahead in life.