TrustQuay, a leading technology provider to the corporate services, trust and alternative fund administration markets, today announced its further investment into the Luxembourg market with the opening of an office in the Luxembourg House of Financial Technology (LHoFT).
TrustQuay offers corporate services, trust and fund administrators (corporate service providers or CSPs) a complete front, middle and back-office digital platform. In addition to Luxembourg, TrustQuay has eight other offices worldwide in key markets which include Jersey, Guernsey, United Kingdom, Singapore and Australia, serving more than 460 customers and 17,500 users in over 30 jurisdictions.
TrustQuay has invested significantly recently in Luxembourg-specific CSP functionality such as eCDF and FAIA reporting and in line with this investment recently expanded its customer base with the signing of Centralis, a leading CSP headquartered in Luxembourg. TrustQuay is also investing in its local team with Keith Hale, Executive Chairman of TrustQuay, who was formerly CEO of Multifonds in Luxembourg and recently became a Luxembourg national, being joined by Birgit De Prins, who was previously with FundRock, Bank of America Merrill Lynch and BNY Mellon.
Commenting on the Luxembourg launch, Keith Hale, Executive Chairman of TrustQuay, stated: "Luxembourg is a key and growing corporate services and alternative fund administration market. Following our investment in the local requirements and team, we are excited to establish a new office at LHoFT to better serve our customers who have operations and their end-clients in Luxembourg, as well as help expand our local customer base".
He continued: "The corporate services, trust and fund administration sector is undergoing unprecedented change, driven by accelerating consolidation and a rapid drive to digitalisation. By offering a complete front to middle to back-office technology platform with the widest global jurisdictional coverage, we can help our customers in Luxembourg and elsewhere digitalise their services and thereby increase automation and efficiency, improve organic growth by leveraging the latest technology tools and expedite M&A integration where needed".