Strategy & Practice Management

Microgen and Touchstone rebrand to become TrustQuay

The company created as a product of the recent merger of Microgen and Touchstone has announced that the combined business has been branded as TrustQuay.

TrustQuay is now the leading provider of technology to the trust and corporate services market, serving more than 450 clients and 15,000 users in over 30 jurisdictions, according to a press release announcing the rebranding.

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.

Keith Hale, Executive Chairman, TrustQuay, said: “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.”

“We expect to see the biggest upheaval the sector has seen in the past 25 years and our prediction is that in the next 5 years the industry will shrink from thousands of players to hundreds, coalescing around a group of global players, surrounded by smaller specialist firms. 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,” Hale continued.

Hale continues, offering comment on how TrustQuay can help clients: “In the near future, the current highly fragmented industry will enter a new phase of consolidation, combined with the drive for accelerated digitalisation. Firms are coming under increasing pressure to rapidly modernise and digitalise their business models in order to survive and thrive in this fast-changing environment.”