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Intertrust Group

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Intertrust Group

Intertrust Group
Type Private
Industry Professional services
Founded 1952
Headquarters Amsterdam, Netherlands
Key people David de Buck (CEO), Ernesto Traulsen (CFO), Henk Pieter (HP) van Asselt (CCO), Angelica Thijssen (CHRO), Madelein Smit (CIO)
Owners The Blackstone Group
Employees Over 1,500(August 2013) in 33 offices

Intertrust Group is one of the largest providers of Trust and Corporate Services in the world.[1] Intertrust operates with more than 1,500 employees worldwide in from 33 offices in 24 countries. The company specializes in tax avoidance.[2]

History

Historically, Intertrust is strongly linked to the banking industry, roots which date from the early 18th century. In 1952, NV Trust Corporation Pierson, Heldring & Pierson was incorporated in Curaçao by Pierson, Heldring & Pierson. In 1975, AMRO Bank acquired Pierson, Heldring & Pierson and ABN Bank acquired Mees & Hope Bankers. After the merger of ABN Bank and AMRO bank into ABN AMRO in 1991, Pierson, Heldring & Pierson and Mees & Hope Bank were merged into MeesPierson in 1993. The trust and corporate management services activities were branded as MeesPierson Trust.

In 1997, MeesPierson was acquired by Fortis. As a result of the subsequent acquisition of Intertrust Group in 2002, the newly formed MeesPierson Intertrust became one of the world’s largest trust and corporate management services firms. The acquisition of Intertrust Group was followed by several smaller acquisitions and disposals. In 2006, MeesPierson Intertrust was rebranded into Fortis Intertrust. In 2007, a consortium of financial institutions (Fortis, The Royal Bank of Scotland, and Banco Santander) acquired ABN AMRO, with the purpose to split the ABN AMRO activities between the consortium partners. It was the intention that Fortis would acquire the Dutch operations of ABN AMRO. In 2008, the worldwide economic downturn also affected Fortis, which resulted in the agreement by the governments of Belgium, Luxembourg, and the Netherlands to acquire a 49% interest in Fortis in September 2008. This commitment was overhauled one week later, when the Dutch government nationalised the Dutch operations of Fortis and the stake in ABN AMRO. The remaining operations (Belgium and Luxembourg) were acquired by the Belgium and Luxembourg governments and BNP Paribas. In summary, the Dutch operations of Fortis were rebranded into Fortis Bank Nederland (FBN), the Belgium operations were rebranded into Fortis Bank Belgium and the Luxembourg operations of Fortis were rebranded into Banque Générale du Luxembourg (BGL). The shares in Fortis Intertrust Group Holding were indirectly held by FBN (75%) and BGL (25%).

In June 2009, front running a potential divestment Fortis Intertrust was rebranded into Intertrust and by the end of 2009 the Intertrust Group was sold to a Dutch investor, Waterland Private Equity Investments Waterland press release

On 3 December 2012, Blackstone, one of the world’s largest private equity firms, announced that it had agreed to acquire Intertrust Group from Waterland Private Equity Investments. Closing of this transaction took place on 1 April 2013. On 3 June 2013, Intertrust Group announced that it had reached agreement to acquire ATC Group. After obtaining the required legal approvals, Intertrust Group completed this transaction on 9 August 2013, and completed integrating ATC in Intertrust by 2 December 2013.

Services

Corporate services

  • Formation and implementation
  • Domiciliation and management
  • Legal administration
  • Accounting and reporting
  • Escrow solutions
  • Intellectual property
  • Treasury management services

Fund services

  • Fiduciary services
  • Legal administration
  • Accounting and reporting
  • Depositary services

Capital markets services

  • SPV & Trustee Services
  • Portfolio administration
  • Calculation and payment agency services
  • Investor reporting

Private wealth services

  • Structuring and administration
  • Intellectual property

References

  1. ^ http://www.seo.nl/binaries/publicaties/rapporten/2008/2008_25.pdf
  2. ^ "Blackstone buys Dutch trust firm Intertrust". Reuters. 5 December 2012. 

External links

  • Intertrust Group website
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