HK Vistra establishes presence in Australia by acquisition

Vistra, one of the world’s leading corporate service providers of international incorporations, trust, fiduciary, private office, and fund administration services, has announced the acquisition of the compliance division of Foster Raffan, a boutique chartered accounting firm based in Sydney, Australia.
Commencing business under the current owners in 1995, Foster Raffan provides accounting and tax, audit, and wealth management services. The firm commenced business under the founding partners in the 1970’s. Their compliance division in particular has grown in the past 20 years as one of the leading business units within the firm, providing accounting, business planning and monitoring, payroll and company secretarial services, superannuation administration and tax compliance.
The team of 17 staff at Foster Raffan’s compliance division, led by partner, Vivien Tang, will join Vistra where Vivien will remain responsible for her team, whilst taking up the role of Head of International Expansion in Australia within Vistra.
Commenting on the acquisition, Martin Crawford, CEO of Vistra, said: “Australia is one of the largest recipients of FDI globally, ranking 14th in 2015. Building a presence in Australia is an important step to enhance our international expansion network and service offerings. Since the Foster Raffan brand came to fruition in 1995, the partners have created a history of success and collaboration, evident through their longstanding client relationships. This acquisition will continue to nurture and develop the partnership which was first started with Vistra UK 10 years ago, and we are excited to welcome Vivien and her team to the Vistra family.”
Vivien Tang, Partner at Foster Raffan, added: “We are delighted that our team has been so instrumental in the expansion of Vistra into Australia, and we are equally excited to formally become part of their global network. Through Vistra’s wide range of clients we will be able to create a niche position for ourselves in the region for companies looking to expand their businesses into this market, not only in the high-tech industry which is a growing segment in Australia but also clients active in other segments as they look to expand into Australia. We are also seeing growing demand for Australian companies requiring assistance as they expand overseas and it is excellent that we can now access the broader Vistra network to satisfy their requirements. Obviously we will also remain focused on the local Australian market and our long-term clients. This marks a milestone for all of us and we look forward to continuing our path of growth with Vistra.”