Hawksford, an international corporate, private client and funds business, has acquired People & Projects (P&P), a provider of accounting, tax and corporate service solutions, for an undisclosed sum.
P&P employs 140 staff across 10 offices in Hong Kong, Singapore, Shanghai, Guangzhou, Beijing, Changshu, Shenzhen, Tokyo, Milan and Barcelona.
The latest acquisition increases Hawksford’s global headcount to over 400, of which 200 are based in Asia.
As part of the deal, P&P partners Stefano Passarello, Dario Acconci and Giacomo Stoppa will become shareholders in Hawksford and retain senior management roles.
Hawksford group CEO Michel van Leeuwen said: “Hawksford’s acquisition of P&P fits our strategic aim of having a truly pan Asian services platform. Fifty percent of Hawksford’s employees are now based in Asia, demonstrating the importance of the region to our business. We are particularly pleased to have secured our own wholly owned operating capability in China and we believe this will be a major growth driver in coming years. Increasingly, corporate clients want to have access to our services across all of Asia as they look to expand their own businesses throughout the region.
“P&P is run by a team of entrepreneurs and professionals who share Hawksford’s values and strategic goals, and are passionately client-orientated. We look forward to integrating P&P’s staff and services into the Hawksford network.”
Hawksford entered into Asia through the purchase of Singapore-based Janus Corporate Solutions in 2014. The firm also secured a trust licence from the Monetary Authority of Singapore (MAS) last year.