TrustQuay, a technology provider to the trust, corporate and funds services sector, and Viewpoint, a wealth management solution provider, have agreed to join forces to accelerate automation and digitalisation across trust, corporate and funds services.
The combined group will bring together 270 people across 12 offices and will enable further product innovation and combined services to customers across Europe and Asia for the first time, TrustQuay said in a statement on 20 February.
TrustQuay has offices in locations including Australia, Guernsey, Jersey, Luxembourg, Singapore and the UK with more than 360 customers and a user base of more than 26,000 in over 30 jurisdictions.
It said the transaction would enable the two businesses to scale up their R&D, professional services, customer services and business development. As a result, the combined group would enable further acceleration in automation and digitalisation to benefit both existing customers and help modernise the industry as a whole.
TrustQuay is focused on entity management, client accounting, practice management, compliance and workflow software for trust, corporate and funds service providers around the world.
With more than 20,000 users from more than 300 clients in over 80 jurisdictions, Viewpoint is a holistic entity governance and administration solution for the combined needs of both commercial entity management service providers such as trust and corporate service providers, and the needs of governance professionals in the PLC, family office, unit trust and law and accounting sectors.
The transaction is subject to regulatory approval, expected to close by mid-2023, after which Keith Hale will become group CEO, and Rolf Heemskerk will become chief information officer.
Hale said: "This is extremely exciting news for both Viewpoint and TrustQuay. Both businesses have distinct strengths and together we bring a ‘best of both worlds', enabling us to better serve customers globally, with a stronger footprint across Europe and Asia Pacific, and to further accelerate automation and digitalisation globally.
"Our greater scale will not only significantly benefit our customers, but also the wider trust, corporate and fund services sector and indeed the wider corporate sector as a whole. I'm particularly looking forward to working with Rolf, given his tremendous experience in both our sector and technology, enabling us to leverage the best of our combined teams."
Rolf Heemskerk, Viewpoint CEO, said: "Working together with TrustQuay as a singly focused, client centric, global solution and service provider, the merger creates an amazing opportunity to optimise the unique organisational and team strengths.
"Our combined team brings together the exceptional talents of two already very aligned organisations. In doing so, I believe that we will build a stronger and a more sustainable business that, through digitalisation, will deliver even more innovative and client centric solutions that will continue to greatly benefit the operations, productivity and efficiency of our clients."
