Punter Southall Governance Services (PSGS) and 20-20 Trustees have announced they are merging to form Vidett.

The newly formed Vidett will have a team of 120 and 475 clients and, according to the merger announcement, be the UK’s largest professional trustee and pension governance firm by number of clients.

The business will be jointly led by co-chief executives Naomi L’Estrange (former managing director of 20-20 Trustees) and Wayne Phelan (former chief executive officer of PSGS), and they will be supported by a leadership team drawn from across the predecessor businesses.

Commenting on the merger, L’Estrange and Phelan said: “We both independently concluded our businesses were complementary and combining them would add significant impetus to accelerate our growth plans.

“20-20 and PSGS had different attributes but similar ambition and cultures, based on collaborative teamwork, sharing knowledge to drive progress for our clients and embracing innovation.

“As both firms have always been committed to delivering the best client service, this will be a key measure of Vidett’s success in the future.”

The co-chief executives stated that they believed this merger will be a “significant boost” for both teams and that they will be part of a “strong, confident business” intent on leading the way in professional trusteeship and pension governance.

Vidett’s leaders also said that they hoped this will make them “the employer of choice” in the market.

“The way we’ve worked so well together over the past months to create Vidett demonstrates how well aligned our teams are, how strong our vision for the business is and how quickly we can integrate”, they continued.

“Importantly, these are clear messages to both our clients and the professional advisers we work with about the seriousness of our offering and commitment to the market and the cohesion of Vidett.”

Vidett is a privately owned, independent business that currently looks after 475 clients with total assets in excess of £142bn and over 2.5 million scheme members.

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