Fiduciary services company Elian, with a presence in a number of countries, is undergoing a change in ownership.

London-headquartered Electra Private Equity has agreed to sell Elian to Intertrust, a global trust and corporate services provider, for £435 million ($628 million).

Jersey-headquartered Elian provides corporate, capital market, fund and private wealth services from 15 offices worldwide. The company has been majority owned by Electra since June 2014. Intertrust, which is listed on the Euronext stock exchange in Amsterdam, has 37 offices in 26 jurisdictions across Europe, Asia and the Middle East.

The acquisition will boost Intertrust's capabilities in capital markets and fund administration, while enhancing Elian's geographic reach. Elian will comprise around a quarter of the combined group.

The deal, which is subject to regulatory approvals, is expected to close later this year.

"The addition of Elian's capabilities and geographic presence diversifies and reinforces Intertrust's services in several important jurisdictions, and specifically it brings us the leadership position in Jersey,” said Intertrust's chief executive, David de Buck.

“Our similar cultures and approach to client service and compliance, coupled with increased scale and broader capabilities, means that together with Elian we can offer more to our clients and investors worldwide.”