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IFG buys Isle of Man services firm

Financial services company IFG Group has announced the acquisition of Northern Trust International Fund Administration Services (Isle of Man) Limited.

The deal, worth €4.7m, was completed by IFG Holdings, which is a subsidiary of IFG.

NTIoM, which was part of the Northern Trust Corporation, deals in fund administration and provides company administration and personal trust services.

The firm recorded a total turnover of over £3m sterling last year.