Fortis announces today that it has completed the previously announced 100% acquisition of Intertrust Group, an international trust and corporate management organisation. The purchase price has been paid fully in cash.
Intertrust Group is one of the leaders in its field, rendering a comprehensive range of services (such as company formation and management, administration, accounting, trust, cash management and treasury services) to a diverse client base consisting of high net worth individuals, owner or family managed businesses, professional intermediaries and multinational corporations. Services are provided out of 12 offices worldwide. The number of full-time employees averages 350.
Intertrust Groupâ€™s client base, turnover and profit have seen consistent growth over the years.
Intertrust Groupâ€™s activities will be merged with the trust activities of MeesPierson, the Private Banking business line of Fortis. The activities of Intertrust and MeesPierson are complementary with regard to location and client portfolio.