The joint venture is being called Equity Trust (Spain) and it increases Equity Trust’s coverage to 33 jurisdictions, the company said in a statement.
The agreement with Gómez-Acebo & Álvarez Giay, a Madrid-based legal boutique, gives Equity Trust useful additional capabilities, particularly with respect to catering for the Latin American market, Equity Trust said.
This is in part because of the number of favourable tax treaties Spain has entered into with various Latin American countries, according to Equity Trust global head of corporate services, sales and business development Frank Welman.
He called the arrangement “a logical addition to our existing global platform”.
Domiciliation, accounting, legal, tax
With offices in Madrid’s financial district, Gómez-Acebo & Álvarez Giay will offer Equity Trust clients a range of services including domiciliation, management, bookkeeping, accounting, legal, tax and corporate secretarial services, Equity Trust said.
Gómez-Acebo & Álvarez Giay’s clients currently include public and privately-held corporations, including financial entities and multinational organisations.
“We believe our understanding of both the Spanish and Latin American markets will add real value to those clients and intermediaries looking to capitalise in these marketplaces,” said Emiliano Córdoba, one of the firm’s three partners. The other two are Pablo Gómez-Acebo and Mabel Álvarez Giay.
‘largest’ global trust and fiduciary services provider
Equity Trust says it is the world’s largest global provider of independent trust and fiduciary services, employing more than 1,200 people. Among the jurisdictions in which it operates are Argentina, Aruba, Belgium, Bermuda, British Virgin Islands, the Cayman Islands, Malta, Switzerland, the US, the UK and Uruguay.
Its clout in the offshore world was strengthened significantly in 2008 when its Equity Trust Fund Services operation merged with Custom House Fund Services, creating an entity with combined total assets under administration that totalled $33bn (£22.2bn, €25.8bn) at the end of July 2009, through approximately 540 funds and sub-funds.
Another Equity Trust joint venture is Panthera International Pension Solutions, which was in the news recently when it was revealed to be handling the marketing for one of the first three Maltese Qualifying Recognised Overseas Pension Schemes in Malta. (Administration of that scheme is being handled by Custom House global Funds Services.)
More information on Equity Trust is available at www.equitytrust.com.
