Guernsey-based investment advice firm Arc has completed a management buy-out.
The largest shareholder in the company, which was founded in 1995, is now an employee benefit trust.
Arthur Labatt, the Canadian businessman who invested in Arc in 2014 and has been its chairman since then, remains a minority ordinary shareholder to provide continuity.
Graham Harrison, managing director of Arc Group, said the management buy-out was a "fantastic result".
He said: "The involvement of Arthur Labatt a few years ago has allowed Arc to expand its operations internationally and to invest in ongoing software development.
"His support has allowed us to establish a firm foundation for future expansion."
Arc has operations in Guensey, Jersey and the UK.
It provides investment advice to more than 100 families with combined assets of more than $15bn (£10.6bn).
It also provides investment consulting, manager research and performance reporting to charities, family offices and professional trustees.
Mr Labatt was the founder of Trimark Investment Management, which was one of the largest fund houses in Canada before its sale to Invesco.
He said: "During my period of involvement I became convinced that Arc's businesses and its standards of service to its clients would be considerably enhanced if there were substantial employee ownership.
"With a solid financial base and sustainable revenue growth across multiple jurisdictions, the time is now right for the broad enfranchisement of senior management to provide stability and security for both Arc employees and Arc clients."
damian.fantato@ft.com
