Intertrust (formerly Intertrust N.V.) is an international

trust Trust often refers to: * Trust (social science), confidence in or dependence on a person or quality It may also refer to: Business and law * Trust law, a body of law under which one person holds property for the benefit of another * Trust (bus ...

and corporate management company based in

Amsterdam Amsterdam ( , , , lit. ''The Dam on the River Amstel'') is the Capital of the Netherlands, capital and Municipalities of the Netherlands, most populous city of the Netherlands, with The Hague being the seat of government. It has a population ...

Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...

. In November 2022, it was acquired by

Corporation Service Company CSC is a company founded on January 1, 1899, that operates in a range of sectors. It is headquartered in Wilmington, Delaware, CSC has offices in the U.S., Canada, Europe, and the Asia-Pacific region. History Corporation Service Company (CSC) w ...

. 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. Intertrust's origins date back to the incorporation of NV Trust Corporation Pierson, Heldring & Pierson in 1952. Shankar Iyer has been the company's acting chief executive officer since December 2020. Intertrust has locations in North America, South America, Europe, Asia and the Middle East, but most of its revenue stems from a small number of

tax haven A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, o ...

s. The company is listed on

Euronext Euronext N.V. (short for European New Exchange Technology) is a pan-European bourse that offers various trading and post-trade services. Traded assets include regulated equities, exchange-traded funds (ETF), warrants and certificates, bonds, ...

Amsterdam Stock Exchange Euronext Amsterdam is a stock exchange based in Amsterdam, the Netherlands. Formerly known as the Amsterdam Stock Exchange, it merged on 22 September 2000 with the Brussels Stock Exchange and the Paris Stock Exchange to form Euronext. The ...

. As of 2015 Intertrust's clients include 6 out of the top 10 of the

Fortune Global 500 The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by '' Fortune'' magazine. Methodology Until 1989, it listed o ...

, as well as thirty out of the world's fifty largest

private equity fund A private equity fund (abbreviated as PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equit ...

s. It does not disclose which companies these are.

History

In 1952, NV Trust Corporation Pierson, Heldring & Pierson was incorporated in

Curaçao Curaçao ( ; ; pap, Kòrsou, ), officially the Country of Curaçao ( nl, Land Curaçao; pap, Pais Kòrsou), is a Lesser Antilles island country in the southern Caribbean Sea and the Dutch Caribbean region, about north of the Venezuela coas ...

by Pierson, Heldring & Pierson. In 1975,

AMRO Bank The AMsterdamsche en ROtterdamsche Bank (AMRO Bank , "Bank of Amsterdam and Rotterdam") was a major Dutch bank that was created in 1964 by the merger of the Amsterdamsche Bank (est. 1871) and the Rotterdamsche Bank (est. 1863). In 1991, it merged ...

acquired Pierson, Heldring & Pierson and ABN 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 Hope is an optimistic state of mind that is based on an expectation of positive outcomes with respect to events and circumstances in one's life or the world at large. As a verb, its definitions include: "expect with confidence" and "to cherish ...

Bank were merged into

MeesPierson MeesPierson is a Netherlands-based private bank headquartered in Rotterdam. Until 2009, the bank was known as Fortis MeesPierson. The name derives from the November 1992 merger of merchant banks Mees & Hope (founded by Franco Cordelois, Jan de Vri ...

in 1993. The trust and corporate management services activities were branded as MeesPierson Trust. In 1997, MeesPierson was acquired by Fortis. 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. In June 2009, Fortis Intertrust was rebranded as Intertrust. It was sold to Dutch investor,

Rob Thielen Robertus H. L. M. Thielen (born 1961) In December 2012,

Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate ...

announced that it would acquire Intertrust from Waterland Private Equity Investments, which was completed in April 2013. Reports stated that Blackstone paid €675 million for Intertrust. Intertrust held its initial public offering in September 2015 in Amsterdam, expecting to raise €475 million. 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. 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. In November 2022, the US-based

(CSC) completed its acquisition of Intertrust for $2 billion.

Acquisitions

In June 2013, Intertrust announced that it would acquire ATC for $397 million, which was completed in December 2013. In June 2015, Intertrust announced that it would acquire CorpNordic, which was finalised in August 2015. In 2016, the company announced that it would acquire Elian for $625 million in cash, shares and debt. In June 2019, Intertrust announced the acquisition of technology solutions provider Viteos.

Activities

Intertrust is headquartered in Amsterdam, Netherlands. The company's operational offices are in the

Luxembourg Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a small land ...

, the Cayman Islands,

Jersey Jersey ( , ; nrf, Jèrri, label=Jèrriais ), officially the Bailiwick of Jersey (french: Bailliage de Jersey, links=no; Jèrriais: ), is an island country and self-governing Crown Dependencies, Crown Dependency near the coast of north-west F ...

and Guernsey. It has other locations in North America, South America, Europe, Asia and the Middle East, totaling 41 offices in 30 countries. The company manages the administration of some 40,000 "entities", nominally housed at its Dutch offices.

References

External links

* {{official, https://www.intertrustgroup.com Financial services companies established in 1952 Financial services companies of the Netherlands Companies based in Amsterdam 2022 mergers and acquisitions