Isle of Man corporate and trust services provider SMP Group Limited has completed its management buyout (MBO).

First announced in February, the MBO has since secured all necessary regulatory approvals from seven different financial services regulators globally, including the Isle of Man Financial Services Authority.

The deal has been backed by Palatine Private Equity, a UK mid-market private equity house, with additional debt funding from Apera Asset Management.

As part of the MBO, former group business development director David Hudson has become group chief executive. He is supported by an executive board cr...