The latest mergers, acquisitions and other corporate actions in the wealth management sector.

ZEDRA, which specializes in providing wealth, corporate services and fund services, joined forces with Gryphon, an Ohio-headquartered fund administrator, providing accounting, administration, and tax preparation and advisory services to the private fund ecosystem.

ZEDRA said this development will enhance its fund service offerings and its US fund administration business, doubling its size.

As part of its international growth strategy, New York-based buyout firm Corsair and BCI are majority and minority investors in ZEDRA, in 2018 and 2023, respectively. (BCI is British Columbia Investment Management Corporation.)

French move
In a separate announcement this week, ZEDRA also invested into French firm RBB Business, which delivers accounting, HR and tax services to domestic and international clients.

Following the investment stake – the financial size and scope of which wasn’t disclosed – 33 RBB Business staff in Paris and Auray will join ZEDRA, taking the latter firm’s total headcount to more than 1,200 people in 17 countries. 

“The combined extensive experience and knowledge will be a great asset as we look to further grow our footprint in France and expand our capabilities within the corporate and global expansion space,” Ivo Hemelraad, CEO at ZEDRA, said.

RBB Business was founded in Paris in 1982.