Intertrust Plans More US Expansion

Corporate services firm Intertrust plans to expand its US services to asset managers to possibly include a prime brokerage, loan services and support for trusts.

Intertrust has recently begun to offer fund administration office through its Delaware office, but it may expand more as demand takes off for more consolidated services globally.

James Ferguson, head of Americas for Intertrust Americas, says the company decided to expand its services to US companies because as it has seen more requests to consolidate fund administration from its global clients.

“It’s a mix of more demand from clients and a movement of companies to tap other providers,” Ferguson says. “There is also an element of the fee pressures companies are seeing that forced them to consolidate fund administration books, particularly for clients in Europe who want to bring more streamlined services to their operations outside Europe.”

He adds that European clients want a more streamlined experience on the fund administration side and therefore want to use only one provider wherever they have offices.  

Ferguson says Intertrust could begin to offer private equity and real estate services, and possibly prime brokerage and loan services and escrow. The company considers trust services a potential opportunity, especially since they are headquartered in Delaware. It has a trust license application pending in the state. 

Intertrust, which opened its Delaware office nearly a decade ago, currently offers middle office services such as tax, treasury management and legal services, as well as shadow fund administration. The company recently doubled its staff in Delaware. Intertrust recently opened a Toronto office.