Intertrust Group Holding S.A. (“Intertrust”) announces it has reached agreement with Walkers Global on the acquisition of its subsidiary Walkers Management Services (“WMS”), a leading provider of corporate, company secretarial and fiduciary services.
Walkers Management Services provides corporate, fiduciary and company secretarial services from the world’s leading financial centres – the Cayman Islands, Delaware (USA), Dubai, Dublin (Ireland), Hong Kong and the British Virgin Islands. Headquartered in George Town, Cayman Islands, WMS currently generates annual sales in excess of US$ 50 million. WMS management is committed to stay with Intertrust Group post integration.
Intertrust is a recognized global quality leader in the trust and corporate services sector, providing a broad range of commercial, legal, tax and administrative services to multinational corporations and high net worth individuals. As a combined group, Intertrust will operate with more than 1,100 people from 30 offices in 21 countries. Intertrust combines global reach with local knowledge and cultural understanding to serve international clients from every corner of the world. The acquisition of WMS reinforces Intertrust’s successful acquisition strategy, aimed at extending its expertise and global capabilities in light of ongoing globalization and clients’ increasingly complex needs.
Commenting on the transaction, David de Buck, CEO of Intertrust Group, said:
‘Walkers Management Services has a strong international position in the corporate services industry; providing high quality services to top-tier clients that will benefit from Intertrust’s capabilities to service them across the globe. Through the acquisition we gain a market leading position in the Cayman Islands, one of the most important financial centres in the world, and we further expand our global network by adding offices in Dubai, Delaware and the British Virgin Islands. Walkers’ quality, experience, heritage and ambitious approach to servicing clients mirror the Intertrust culture. We look forward to working with the Walkers Management Services team and enjoying further success based on our joint capabilities.’
Nancy Lewis, CEO of WMS, added:
‘We very much look forward to joining Intertrust Group. We share a drive for quality and experience in working for the world’s most sophisticated clients. Our combined network of offices will deliver a strong foundation for further growth of our business; bringing us a sound position in all key international business locations across Asia, Europe and the Americas. This platform will allow us to provide even greater global solutions for our clients.'
The acquisition is subject to regulatory approval and is expected to be completed in the coming months. Financial details of the transaction are not being disclosed.
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