TrustQuay's Keith Hale reflects on the past year in terms of people, products, partnerships and more.
Firstly, I’d like to thank everyone who joined us at TrustQuay Forum in October in London. It was great to see more than 100 people across the trust, corporate and fund services market collaborating together finally after the challenges of Covid.
Thanks for scoring us 96% on satisfaction, and 100% of attendees said they would return again, so next year's Forum is already being planned. If you couldn’t attend, the day was filmed and will be available to stream on our website shortly.
One key focus of TrustQuay Forum was the launch of the Future Focus Report 2023. The third edition of our survey of 120 trust, corporate and fund services providers found that nine out of ten firms think they will become much more digitalised and automated in the next five years – but only one in three have started on this journey.
This year’s report and indeed TrustQuay Forum showcased TrustQuay’s "digitalisation pathway" of consolidating data, providing regulatory services, automating and then differentiating as a route to help start or progress that journey to digitalisation.
You hopefully have seen the numerous product updates recently released. For example, we are very excited about the launch of our alternative fund administration capabilities within TrustQuay Online as demonstrated at TrustQuay Forum.
Having a single, fully-integrated platform for practice management, entity management and now fund administration all deployed via SaaS – so no need to manage infrastructure, installations and upgrades – is second to none in the industry we believe.
I'd like to extend a warm welcome to new customers who may be receiving this newsletter for the first time. We signed over 50 new TrustQuay customers over the last two years since we formed the business. For existing customers, I’m pleased to say we have delivered over 80 projects, so we are keeping busy but have plenty more to do.
To that end, we have been investing in the existing team as well as onboarding 30 new people. For example, I’m delighted we've been able to attract the likes of our new Programme Director Lawrence Nash who has previously held positions at a number of our clients, and Charlotte Oswald who joined our Luxembourg office to help drive the fund administration knowledge and capabilities of TrustQuay.
I can’t re-cap the year without mentioning the other significant change to TrustQuay in 2022, namely the investment by Hg. You may know Hg are the third-largest PE investor in Europe who specialise in technology. We are delighted and honoured to be part of a group of over 45 of the world’s leading global software vendors. They will help and drive us to further enable digitalisation across the trust, corporate and fund services industry for you, our customers.
Wishing you, your friends and family a wonderful festive season and happy new year.
Keith is Group CEO at TrustQuay