Intertrust NV

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Intertrust is a publicly-traded international trust and corporate management company based in Amsterdam, Netherlands. The company is best known for its fiduciary services, which includes tax, trust, business management and outsourcing processes. It is the largest trust office in the Netherlands, measured by number of shell corporations managed — some 40,000 "entities",ref nominally housed at its Dutch offices.ref

Flag-Tax-Haven-v2.svg Most of the company's revenue stems from a small number of tax havens.ref The company's operational offices are in the Netherlands, Luxembourg, the Cayman Islands, Jersey and Guernsey.ref It has other locations in North America, South America, Europe, Asia and the Middle East, totaling 40 offices in 29 countries.ref, Dec.2018

Intertrust's clients include 60% of the Top 10 of the Fortune Global 500, and 30 out of the world's 50 largest private equity funds. It does not disclose which companies these are.ref

Company

Shareholders

Source: MarketScreener.svg,  

Corporate Grouping

Timelines

Intertrust

ToDo: Investors, Press Releases
  • Oct.2020: Ironstone Directors, a new sub-brand, a new, boutique, service provider entirely focused on offering premium independent directorship services and governance solutions, was launched.[1]
  • Oct.2020:
    Intertrust-2020-horiz.svg
    Rebrand: Interbrand announced its new logo, and its new partnership with Kiva Microfunds,OpenCorporates-sm.svg a California non-profit.[2] Kiva is a platform which crowd-sources funds to lend out. Kiva makes its money by charging fees to "select field partners"; on the interest earned by funds held; and by foreign exchange gains. Lenders make their money by charging interest and service fees.[3]
  • Aug.2020: Intertrust Law, a new global offshore law firm managed from the Cayman Islands, was launched.[4]
  • mid-2019: Viteos acquisition.
  • May 2017: Blackstone Group, Intertrust's major shareholder, reduced its holding from 34.26% to 23.39%.AR-2017, p.42
  • Feb.2017: Azcona: Intertrust Group acquired Azcona y Asociados de Consultoría Tributaria, Jurídica y Contable SL, a Spanish provider of corporate, funds and capital markets services.AR-2017, p.13 Azcona's 25% stake in Elian was included in the deal.ref
  • Sept.2016:
    Elian-Group-2014.svgDeals-Arrow-Left.svg
    § Elian Group: the Jersey-based firm was acquired from Electra Private Equity plc / Electra Partners LLP. ref, ref Elian's operations were rebranded as Intertrust, and hived up.ref A 75% stake in SFM Spain was included as part of the acquisition, with the remaining 25% held by Azcona.ref
  • Oct.2015: IPO:
    Intertrust-2015.svgEuronext-Stock-Exchange-2014.svg
    Intertrust became a publicly quoted company, listed on the Euronext Amsterdam stock exchange.ref
  • Aug.2015: CorpNordic Holding A/S, a corporate services provider in Sweden, Denmark, Norway and Finland, was acquired by Intertrust (Denmark) A/S.refref
  • Sept.2014: Intertrust NV was incorporated in the Netherlands. OpenCorporates-sm.svg
  • 2014: Corporate Risk Solutions Ltd, a Guernsey-based provider of risk management services, was acquired.ref,ref, p13 Renamed as "Intertrust Risk Solutions Ltd" (?ref?)
  • Dec.2013: ATC Group BV: ATC Midco Sàrl was acquired from HgCapital LLP by Intertrust Group Holding SA; ref,ref,ref, p.13 ATC provided fiduciary, management, trustee, domiciliation, administration, and reporting services. †
  • Apr.2013: Blackstone Group acquired Intertrust Group from Waterland Private Equity Investments BV.refref
  • Jun.2012: Walkers Global Holdings Ltd, a Cayman Islands trust, was acquired from law firm Walkers Global, part of the Lex Mundi https://www.lexmundi.com/ network]. WMS provided corporate, fiduciary and company secretarial services from the Cayman Islands, Delaware, Dubai, Dublin, Hong Kong and the British Virgin Islands.ref,ref
  • Jun.2011: Close Brothers Cayman, a Cayman Islands trust comprising Close Brothers (Cayman) Ltd and Close Bank (Cayman) Ltd, was acquired from Close Brothers Group plc by Intertrust Holding (Cayman) Ltd.ref, p.13
  • Jun.2009: Intertrust Group: Fortis Intertrust was rebranded again. It was sold to Waterland Private Equity Investments, owned by Dutch investor Rob Thielen.ref
  • 2006: Fortis Intertrust: the company adopted its owner's name and rebranded as Fortis Intertrust.ref During its time as a Fortis subsidiary, Intertrust was involved in dubious transactions surrounding FIFA officials, though this only became known after the Panama Papers leak of 2016.ref
  • 2005: Fortis Meespierson: changed its name again.
  • 2002: MeesPierson Intertrust: MeesPierson acquired Holland Intertrust Corporation, and rebranded.
  • 1997: Fortis NV/SA acquired MeesPierson from ABN AMRO. ref
  • 1993: MeesPierson NV: Pierson, Heldring & Pierson and Mees & Hope Bank were merged to form private bank MeesPiersonWikipedia-W.svg. The trust and corporate management services activities were branded as "MeesPierson Trust".ref
  • 1991: ABN AMRO Bank NV: ABN Bank and AMRO bank were merged to create ABN AMRO.
  • 1975: AMRO Bank acquired Pierson, Heldring & Pierson; and ABN Bank acquired Mees & Hope Bankers.
  • 1952: NV Trust Corporation Pierson, Heldring & Pierson was incorporated in Curaçao by Pierson, Heldring & Pierson.
ToDo: Re Elian, see: PR Newswire, and Ogier
Additional Sources:
Prospectus: Initial Public Offering. Intertrust NV, Oct.05.2015.

MeesPierson


  • Today the group has chosen to market its private banking services under the brand name "MeesPierson, the Private Bankers of Fortis", and Trust & Corporate services under the brand name "MeesPierson Intertrust".
  • 2002: Intertrust Group was acquired. / With the acquisition of the , MeesPierson has become the leading trust services company of Europe.
  • ?date?: Beta Capital, Spanish specialists, was acquired, rounding out the Fortis Group's offering in private banking.
  • 2000: Banque Générale du Luxembourg, Luxembourg's leading bank with extensive private banking operations, was acquired by Fortis.
  • 1997: Fortis acquired MeesPierson to strengthen its private banking business.
  • 1975: Pierson, Heldring & Pierson became a public limited company. Sweeping changes in the Dutch banking industry followed, as Pierson, Heldring & Pierson became a subsidiary of AMRO, and ABN acquired Bank Mees & Hope Bankiers. MeesPierson was created when AMRO and ABN merged.
  • 1962: Mees & Hope Bankiers was formed by the merger of R Mees & Zoonen, and Hope & Co.
  • 1958: Pierson, Heldring & Pierson: Pierson & Co. teamed up with outside partners.
  • 1875: Pierson & Co. was formed by JL Pierson, and began banking operations in Amsterdam. The company was both a stockbroker and a lender to foreign borrowers. Projects funded by Pierson included the Canadian-Pacific Railway, where its contribution was recognised with a station named Pierson.
  • 1762: Hope & Co., owned by the Hope brothers, expanded its Amsterdam-based business from trading in wool, grain and other staple goods. Hope & Co. went on to lend money to merchants, governments and royalty.
  • 1786: R Mees & Zoonen was founded by Rudolf Mees, Gregorius' son. Soon financing civil engineering projects including waterways and the expansion of Rotterdam's harbour.
  • 1720: when Gregorius Mees set up as a broker of bills of exchange and insurance in Rotterdam.
Additional Sources:

History. MeesPierson - a banking tradition dating back to the early 18th century. MeesPierson. Original archived on Jun.23.2004.

Elian Group

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Elian specialised in offshore capital market solutions; private equity, real estate and fund administration; corporate services; and private client solutions. The firm worked with global law and accountancy firms, multi-national corporations, financial institutions, fund managers, and high net worth individuals.

Elian's network of 15 offices included Amsterdam, Bahrain, the British Virgin Islands, the Cayman Islands, Dublin, Frankfurt, Guernsey, Hong Kong, Jersey, Lisbon, London, Luxembourg, Madrid, Milan, New York, and Tokyo.


  • Jun.2016:
    Intertrust-2015.svgDeals-All-Change.svg
    Intertrust NV purchased Electra Partners LLP's stake in the Elian Group.[5][6]
  • Sept.2015:
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    § Structured Finance Management Europe was 'purchased' from Electra Private Equity LLP.[7]
  • Sept.2014:
    Elian-Group-2014.svg
    Elian: Ogier Fiduciary Services launched its new brand and identity.[8][9]
  • Jun.2014: Management Buyout: Ogier Fiduciary Services LtdOpenCorporates-sm.svg was the subject of an MBO from Ogier LLP, financed by private equity firm Electra Partners LLP, alongside a significant investment by the management team.[10][11] After the divestment, Ogier LLP rebranded and restructured itself to focus solely on law.[12]
  • 1998:
    Elian-Ogier-Fiduciary-Services-1998.svg
    Ogier Fiduciary Services Ltd was established as a trust company business in Jersey by Ogier & Le Masurier, to administer a variety of investment structures and benefit schemes.[13]
  • Feb.1995:
    Elian-Ogier-Le-Masurier-1995.svg
    Ogier & le Masurier: "Ogier & Le Cornu" and "Le Masurier Giffard & Poch" merged.
  • 1922: Ogier & Le Cornu was a loose partnership between Advocate Leonce L'Hermite Ogier and Advocate John Fleury Le Cornu.
  • 1867: Le Masurier Giffard & Poch began when John Francis Giffard commenced practicing law in St Helier.
Additional Sources:
History of Ogier & Le Masurier. Ogier & Le Masurier, Feb.07.2005. Original archived on Feb.07.2005.
Elian: Our HeritageArchive-org-sm.svg

Structured Finance Management Europe

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SFM Europe provides corporate services in 9 European jurisdictions for the management of securitisations, structured finance and asset finance to global banks, investment managers and blue chip corporates.[7]

The company was established in Sept.1999 as "Structured Finance Management Ltd" to "provide directors and other management services to Special Purpose Companies".



  • Mar.26.2016: SFM: the vulture funds’ enforcer that calls in Irish property debts. Special purpose vehicles acting for global clients control debt worth €billions. Structured Finance Management Ireland set up Beltany, an SPV to hold loans bought by Goldman Sachs from the Irish banks and channel the money it makes from them back to the group. Based in Mount Street, Dublin, SFM is the Irish arm of Structured Finance Management Europe, a London-headquartered outfit that provides these services in various financial centres around the world. It was recently taken over by its bigger rival, Elian, which also has a Dublin office. SFM does not only act for Goldman Sachs. In fact, it has set up a raft of SPVs for the investors that have been cashing in on the fallout from the property crash by buying real-estate loans throughout Ireland over the past 3-4 years. Barry O'Halloran, The Irish Times.

Articles

Discretionary trusts are commonly used in UK, Irish and Jersey securitisation transactions to own the shares of a special purpose vehicle (SPV). Excellent "intro" to SPVs and how they work, including diagrams here.

References

  1. ^ Intertrust Group Announces Launch of Ironstone Directors. BusinessWire, Oct.26.2020.
  2. ^ Intertrust Group Announces New Era With Rebrand and Strategic Partnership With Non-Profit Kiva. BusinessWire, Oct.19.2020.
  3. ^ The journey of a Kiva loan. Kiva. Accessed Jan.18.2021.
  4. ^ Intertrust Group Announces Creation of Intertrust Law. BusinessWire, Aug.20.2020.
  5. ^ Electra sells Elian to Intertrust. Electra is to sell its holding in fiduciary services company, Elian, to global high-value trust and corporate services provider, Intertrust, in a GBP435 million deal. Private Equity Wire, Jun.06.2016.
  6. ^ Dutch trust operator Intertrust buys Elian for 435 million pounds. Reuters, Jun.06.2016.
  7. ^ a b Elian to buy SFM Europe. Elian agreed to buy SFM Europe, a provider of corporate services with more than €1trn of assets under administration. After completion, which is subject to regulatory approvals, SFM Europe will operate as a separate division of Elian. Private Equity Wire, Sept.04.2015.
  8. ^ Ogier Fiduciary Services Rebrands As Elian Following MBO. We Are Guernsey, Sept.29.2014.
  9. ^ Ogier Fiduciary Services Re-brands as Elian, following MBO. Suzanne Isaacs, City Wealth Magazine, Sept.30.2014.
  10. ^ Management Buy-Out of Ogier Fiduciary Services. Press Release, The Ogier Group, Feb.03.2014. Original archived on Sept.10.2017.
  11. ^ Epiris’ investment in Elian. Epiris Managers LLP. Original archived on Sept.08.2017.
  12. ^ Ogier launches a rebrand. The firm is looking to differentiate itself from other offshore firms. Mary Heaney, The Global Legal Post, Jun.25.2015.
  13. ^ Ogier Group: Ogier Fiduciary Services. Ogier & Le Masurier, Dec.11.2001. Original archived on Dec.11.2001.