# Intertrust Group

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{{Short description|Dutch corporate management service company}}
{{Infobox company
| name = Intertrust Group
| logo = Intertrust Group logo.svg
| logo_size = 
| type =  [Subsidiary](/source/Subsidiary)
| foundation = {{start date and age|1952}}
| location = [Amsterdam](/source/Amsterdam), [Netherlands](/source/Netherlands)
| key_people = Shankar Iyer ([CEO](/source/CEO)),<ref>{{cite web |title=Intertrust announces the nomination of Shankar Iyer as CEO |url=https://www.intertrustgroup.com/investors/press-releases/pr-story?ResultPageURL=https://www.globenewswire.com/HexMLItem/Content/FullText/Attachments/All/Identifier/2140212/language/en| publisher=www.intertrustgroup.com | date=7 December 2020}}</ref> Rogier van Wijk ([CFO](/source/CFO)), Hélène Vletter-van Dort (Chairperson Supervisory Board)
| industry = [Professional services](/source/Professional_services)
| num_employees = 3,500<ref name="winst">{{cite news |title=Intertrust sluit roerig 2017 af met winst- en omzetgroei |url=https://www.telegraaf.nl/financieel/1643745/intertrust-sluit-roerig-2017-af-met-winst-en-omzetgroei|newspaper=[Telegraaf](/source/Telegraaf)|language=Dutch}}</ref>
| net_income_year = 2017
| profit = €139.5 million{{r|winst}}
| revenue_year = 2017
| revenue = €485.2 million{{r|winst}}
| locations = 41
| parent = [Corporation Service Company](/source/Corporation_Service_Company)
| website ={{url|intertrustgroup.com}}
}}

'''Intertrust''' (formerly '''Intertrust N.V.''')<ref>{{Cite news
| url = https://www.reuters.com/article/netherlands-intertrust-ipo-idUSL8N12F1BD20151015
| title = Intertrust begins trading at 15.50 euros
| date = 2015-10-15
| newspaper = Reuters
| access-date = 2016-02-26
}}</ref> is an international [trust](/source/Trust_law) and corporate management company based in [Amsterdam](/source/Amsterdam), [Netherlands](/source/Netherlands). In November 2022, it was acquired by [Corporation Service Company](/source/Corporation_Service_Company). The company is best known for its fiduciary services, which includes tax, trust, business management and outsourcing processes.<ref>{{cite book | url=https://books.google.com/books?id=HkTwok8DHuwC&q=intertrust+group+1952&pg=PA100 | title=Worldwide Business Tax Facts 2010/11 | publisher=CCH Australia Limited | year=2010| isbn=9781921593864 }}</ref> It is the largest trust office in the Netherlands.

Intertrust's origins date back to the incorporation of NV Trust Corporation Pierson, Heldring & Pierson in 1952.<ref name=historisch/> Shankar Iyer has been the company's acting chief executive officer since December 2020.<ref>{{cite web |title=Intertrust announces the nomination of Shankar Iyer as CEO |url=https://www.intertrustgroup.com/investors/press-releases/pr-story?ResultPageURL=https://www.globenewswire.com/HexMLItem/Content/FullText/Attachments/All/Identifier/2140212/language/en| publisher=www.intertrustgroup.com | date=7 December 2020}}</ref>

Intertrust has locations in North America, South America, Europe, Asia and the Middle East,<ref>{{cite web | url=http://www.hedgeweek.com/2012/03/07/163222/intertrust-acquires-walkers-management-services | title=Intertrust acquires Walkers Management Services | publisher=Hedge Week | date=3 July 2012 | accessdate=19 April 2016}}</ref>
but most of its revenue stems from a small number of [tax haven](/source/tax_haven)s.<ref name="waarom">{{cite news |title=Waarom het gesloten Intertrust nu de ramen openzet |newspaper=NRC Handelsblad |date=14 October 2015 |url=https://www.nrc.nl/nieuws/2015/10/14/gesloten-intertrust-moest-de-ramen-nu-wel-openzet-1547679-a1148719}}</ref>
The company is listed on [Euronext](/source/Euronext) [Amsterdam Stock Exchange](/source/Amsterdam_Stock_Exchange).<ref name="euronext.com">{{Cite web
| url = https://www.euronext.com/nl/news/euronext-amsterdam-welcomes-intertrust
| title = Euronext Amsterdam welcomes Intertrust {{!}} Euronext
| website = www.euronext.com
| access-date = 2016-02-26
}}{{Dead link|date=September 2024 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> As of 2015 Intertrust's clients include 6 out of the top 10 of the [Fortune Global 500](/source/Fortune_Global_500), as well as thirty out of the world's fifty largest [private equity fund](/source/private_equity_fund)s. It does not disclose which companies these are.{{r|waarom}}

==History==
In 1952, NV Trust Corporation Pierson, Heldring & Pierson was incorporated in [Curaçao](/source/Cura%C3%A7ao) by Pierson, Heldring & Pierson. In 1975, [AMRO Bank](/source/AMRO_Bank) acquired Pierson, Heldring & Pierson and [ABN Bank](/source/Algemene_Bank_Nederland(old_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](/source/Hope_%26_Co.) Bank were merged into [MeesPierson](/source/MeesPierson) in 1993. The trust and corporate management services activities were branded as MeesPierson Trust.<ref name=historisch>{{cite book | url=https://www.abnamro.com/en/images/Documents/010_About_ABN_AMRO/History/Mees_Pierson_UK.pdf | title=Historisch Archief | publisher=ABN AMRO}}</ref>

In 1997, MeesPierson was acquired by [Fortis](/source/Fortis_(finance)).<ref>{{cite web | url=https://www.wsj.com/articles/SB851288174210864000 | title=Fortis Acquires MeesPierson For $1.43 Billion from Amro | publisher=Wall Street Journal | date=23 December 1996 | accessdate=19 April 2016 | author=Du Bois, Martin}}</ref> In 2002, MeesPierson acquired Holland Intertrust Corporation and rebranded as MeesPierson Intertrust. The company adopted its owner's name in 2006 and rebranded as Fortis Intertrust.<ref>{{cite web | url=http://www.iomtoday.co.im/news/business/meespierson-adopts-fortis-intertrust-name-1-1757900 | archive-url=https://web.archive.org/web/20160427052346/http://www.iomtoday.co.im/news/business/meespierson-adopts-fortis-intertrust-name-1-1757900 | url-status=dead | archive-date=April 27, 2016 | title=Meespierson Adopts Fortis Intertrust Name | publisher=IOM Today | date=22 May 2006 | accessdate=19 April 2016 }}</ref> 

In June 2009, Fortis Intertrust was rebranded as Intertrust. It was sold to Dutch investor, [Rob Thielen](/source/Rob_Thielen)'s, Waterland Private Equity Investments<ref>{{cite web |website=[Quote](/source/Quote_(magazine)) |title=Rob Thielen (Waterland) koopt Fortis Intertrust |date=4 September 2009 |url=http://www.quotenet.nl/Nieuws/Rob-Thielen-Waterland-koopt-Fortis-Intertrust-27721}}</ref> for a reported price of either €210 million{{r|volkskrant}} or €250 million.<ref name="koopje">{{cite web |first=Henk Willem |last=Smits |title=Fortis Intertrust was een koopje voor Waterland |website=[Quote](/source/Quote_(magazine)) |url=http://www.quotenet.nl/Nieuws/Fortis-Intertrust-was-een-koopje-voor-Waterland-27719|language=Dutch}}</ref>

In December 2012, [Blackstone Group](/source/Blackstone_Group) announced that it would acquire Intertrust from Waterland Private Equity Investments, which was completed in April 2013.<ref>{{cite news |newspaper=Reuters |title=Blackstone buys Dutch trust firm Intertrust |date=5 December 2012 |url=https://www.reuters.com/article/us-blackstone-intertrust-idUSBRE8B40BE20121205}}</ref><ref name="gesloten">{{cite news |url=https://www.nrc.nl/handelsblad/2015/10/14/gesloten-intertrust-moet-deramen-nu-wel-openzetten-1547699 |title=Gesloten Intertrust moet de ramen nu wel openzetten |trans-title=Closed Intertrust must now open its windows |first1=Teri van der |last1=Heijden |first2=Menno |last2=Tamminga |date=14 October 2015 |newspaper=NRC Handelsblad|language=Dutch}}</ref> Reports stated that Blackstone paid €675 million for Intertrust.<ref name="volkskrant">{{Cite news |title=Blackstone neemt Intertrust over |newspaper=[de Volkskrant](/source/de_Volkskrant) |date=8 December 2012 |url=http://www.volkskrant.nl/dossier-archief/blackstone-neemt-intertrust-over~a3360048/|language=Dutch}}</ref>

Intertrust held its initial public offering in September 2015 in Amsterdam, expecting to raise €475 million.<ref>{{cite web | url=https://www.bloomberg.com/news/articles/2015-09-21/intertrust-expects-to-raise-537-million-in-amsterdam-ipo | title=Blackstone's Intertrust Expects to Raise $537 Million in IPO | publisher=Bloomberg Business | date=21 September 2015 | accessdate=19 April 2016 | author=De Jong, David}}</ref> In October 2015, shares of Intertrust N.V. started trading on the Euronext Amsterdam Stock Exchange at an issue price of €15.50 per share. In total, Intertrust's IPO raised about €486 million.<ref name="euronext.com"/> The company's profits decreased from €6.3 million in 2014 to €2.6 million in 2015 due to increased competition on the Cayman Islands.{{r|winst}}<ref>{{cite news |first=Gerard |last=Reijn |title=Maatregelen tegen belastingontwijking gaan multinationals geld kosten |trans-title=Anti-tax evasion measures will cost multinationals money |url=http://www.volkskrant.nl/economie/-maatregelen-tegen-belastingontwijking-gaan-multinationals-geld-kosten~a4241987/ |newspaper=De Volkskrant |date=10 February 2016|language=Dutch}}</ref>

In November 2022, the US-based [Corporation Service Company](/source/Corporation_Service_Company) (CSC) completed its acquisition of Intertrust for $2&nbsp;billion.<ref>{{cite web |url=https://delawarebusinesstimes.com/news/csc-closes-intertrust/ |title=CSC closes $2B Intertrust acquisition |date=9 November 2022 |last=Owens |first=Jacob |website=Delaware Business Times}}</ref><ref>{{Cite web|url=https://www.cscglobal.com/service/press/csc-finalizing-acquisition-of-intertrust-group/|title=CSC Finalizes Acquisition of Intertrust Group|date=2022-11-07|website=CSC|language=en-US|access-date=2022-11-07}}</ref>

===Acquisitions===
In June 2013, Intertrust announced that it would acquire ATC for $397 million, which was completed in December 2013.<ref>{{cite web | url=http://www.internationallawoffice.com/Deals/2013-06-03/Intertrust-Group-Holding-SA-to-acquire-ATC-Group-BV | title=Intertrust Group Holding SA to acquire ATC Group BV | publisher=International Law Office | accessdate=19 April 2016 | archive-date=2016-07-29 | archive-url=https://web.archive.org/web/20160729200638/http://www.internationallawoffice.com/Deals/2013-06-03/Intertrust-Group-Holding-SA-to-acquire-ATC-Group-BV | url-status=dead }}</ref> In June 2015, Intertrust announced that it would acquire CorpNordic, which was finalised in August 2015.<ref>{{cite web | url=http://eubankers.net/article/32301/intertrust-completes-acquisition-of-corpnordic | title=Intertrust completes acquisition of CorpNordic | publisher=EU Bankers | accessdate=19 April 2016 | archive-date=5 March 2017 | archive-url=https://web.archive.org/web/20170305031128/http://eubankers.net/article/32301/intertrust-completes-acquisition-of-corpnordic | url-status=dead }}</ref> In 2016, the company announced that it would acquire Elian for $625 million in cash, shares and debt.<ref>{{cite web|url=https://www.reuters.com/article/us-elian-intertrust-m-a-idUSKCN0YS0HE|title=Dutch Trust Operator Intertrust Buys Elian for 435 Million Pounds|publisher=Reuters |first=Toby |last=Sterling|date=6 June 2016|access-date=22 July 2016}}</ref>

In June 2019, Intertrust announced the acquisition of technology solutions provider Viteos.<ref>{{Cite web|url=https://www.financialexpress.com/industry/intertrust-acquires-tech-solutions-provider-viteos-for-330-million/1613562/|title=Intertrust acquires tech solutions provider Viteos for $330 million|date=2019-06-20|website=The Financial Express|language=en-US|access-date=2019-06-25}}</ref>

==Activities==
Intertrust is headquartered in Amsterdam, Netherlands. The company's operational offices are in the [Netherlands](/source/Netherlands), [Luxembourg](/source/Luxembourg), the [Cayman Islands](/source/Cayman_Islands), [Jersey](/source/Jersey) and [Guernsey](/source/Guernsey).{{r|gesloten}} It has other locations in North America, South America, Europe, Asia and the Middle East, totaling 41 offices in 30 countries.<ref>{{cite web|url=https://uk.finance.yahoo.com/news/intertrust-announces-rebranding-elian-061602490.html |title=Intertrust announces rebranding Elian|date=12 December 2016|publisher=GlobeNewswire}}</ref> The company manages the administration of some 40,000 "entities",{{r|winst}} nominally housed at its Dutch offices.<ref name="brievenbusbv">{{cite news |title=Aantal brievenbusbv's in Nederland blijft groeien |trans-title=Number of mailbox firms in Netherlands keeps on growing |newspaper=De Volkskrant |date=13 October 2015 |url=http://www.volkskrant.nl/economie/aantal-brievenbusbv-s-in-nederland-blijft-groeien~a4161782/|language=Dutch}}</ref>

==References==
{{Reflist|30em}}

==External links==
* {{official|https://www.intertrustgroup.com}}

Category:Financial services companies established in 1952
Category:Financial services companies of the Netherlands
Category:Companies based in Amsterdam
Category:2022 mergers and acquisitions

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Adapted from the Wikipedia article [Intertrust Group](https://en.wikipedia.org/wiki/Intertrust_Group) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Intertrust_Group?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.