Corporate, trust and fund administration services provider Vistra has acquired FTC Trust in the Netherlands, following approval of the deal from the Dutch Central Bank on 14 March 2012.
Founded in 1990, FTC Trust has built up a strong reputation in the market over the last twenty years with a management team that combines over 75 years experience. In 2006, FTC Trust moved to its new Head Office in the prestigious World Trade Centre hub at Amsterdam’s Schiphol Airport. With additional offices in The Hague, Antwerp and Brussels, FTC Trustprovides international clients with a comprehensive range of services including company formation, management and domiciliation and corporate services.
The Netherlands has a well established reputation for the establishment of international holding, finance and royalty companies and FTC Trust has been very successful in developing this market. Serving nearly 400 clients split between the high net worth and corporate sectors, with 22 staff and an expected turnover in 2012 of nearly EUR4 million, FTC Trust has grown rapidly to become an important player in the market, where an approach which matches technical expertise with a strong focus on customer service has proved very popular.
The acquisition will bring Vistra’s staff numbers in the Netherlands to 60, with FTC Trust expected to be rebranded under the Vistra umbrella during the second quarter of this year.
Commenting on the acquisition, Jack Willems, Director FTC Trust, says: “We will be joining one of Europe’s fastest growing fiduciary and corporate services groups, which we believe will bring real benefits and opportunities to our existing clients and staff. Clients will be able to benefit greatly from the broader range of services and on the ground presence in other key jurisdictions that Vistra can offer and at the same time, will find that they are still dealing with their existing contacts in the new enlarged company, which will help ensure business continuity.”
Vistra Executive Chairman Bart Deconinck says: “We are delighted to welcome the staff and clients of FTC Trust into the Vistra group. By bringing both our companies together, we will be able to offer clients enhanced business opportunities through our existing network. Local staff will also benefit from the broader range of development opportunities which are likely within a growing and dynamic operating company.”
The enlarged Vistra Netherlands company will be led by managing director Sjaak ten Hove and executive directors, Tako van Ginkel and Jack Willems.