The new name and brand has been announced following the recent merger of the two companies.
TrustQuay provides technology to the trust and corporate services market, serving more than 450 clients and 15,000 users in more than 30 jurisdictions. It has nine offices worldwide and an established physical presence in key markets including Australia, Guernsey, Jersey, Luxembourg, Singapore and the UK.
Since the first announcement of the merger in November last year, the two original businesses have been fully integrated into a single global organisation under the TrustQuay brand.
During this time, the combined business has also signed two major agreements and started executing on global rollouts with major industry consolidators IQ-EQ and Ocorian. In addition, TrustQuay has signed six deals with specialist providers including DTOS, Schindlers and Isles of Knight.
‘I see a once-in-a-generation change in the corporate services, trust and alternative fund administration market, with the industry players either growing by consolidation or specialising in niche areas. Both drivers will act as a catalyst for a period of rapid digitalisation and the need for automation across the industry,’ said Keith Hale, executive chairman of TrustQuay.
‘We expect to see the biggest upheaval the sector has seen in the past 25 years and our prediction is that in the next five years the industry will shrink from thousands of players to hundreds, coalescing around a group of global players, surrounded by smaller specialist firms.’
He added: ‘In tandem, the corporate services, trust and alternative fund administration market has started to shift from a relatively sedentary industry from a technology perspective to one that is now being pushed to change by their clients and regulators alike, as well as rapidly changing business models.’