The new business provides global coverage and technology transformation capabilities for the Trust and Corporate Services market
03 February 2020, London – The merger between Microgen Financial Systems and Touchstone Wealth Management completed today. As a result, the combined business becomes the leading provider of technology to the Fiduciary, Corporate Services, Wealth and Trust Administration market. Also, as a ringing endorsement of the merger of the two companies, IQ-EQ, one of the largest global providers of Trust, Fund and Corporate Services, has signed an agreement to extend their relationship to use the software across all its global offices.
The merger of Microgen and Touchstone will enable the combined company to provide the increased global coverage, scale and innovation to meet the requirements of a rapidly evolving market. The Fiduciary, Corporate Services, Trust and Fund Administration industry is both growing significantly and consolidating into an ever-reducing number of leading global service providers. These providers, including IQ-EQ, demand global coverage, but with increased regulatory and digital capabilities, as well as support for changing fee models.
Christiaan van Houtven, COO of IQ-EQ “I’m pleased to have extended our relationship with Microgen and confident that their merger with Touchstone will underwrite their commitment to us and the rest of the market, based on their increased scale and capacity to deliver the technology innovation we need as we continue to evolve.”
Keith Hale, Executive Chairman: “I’m delighted that the merger has completed, so we can continue to quickly progress the integration, enabling us to service our clients in the best possible way. I’ve already been very impressed with the great chemistry between the teams. Everyone shares the joint goal of providing innovative, resilient, secure and modern technology to the Corporate Service, Trust and Fund Administration market. Signing the extension with IQ-EQ is a great example of how we can support our customers to grow globally.”
Microgen and Touchstone now have a combined workforce of over 150 people servicing over 450 customers with 15,000 users in more than 30 jurisdictions, covered by nine offices including Jersey, Guernsey, Cyprus, Singapore, Australia and the United Kingdom. The name of the newly merged entity will be announced in due course.
About Microgen Financial Systems
Microgen Financial Systems has been serving the wealth management market for over 30 years and has over 400 customers around the globe, ranging from the some of the largest financial institutions to smaller independent organisations. Microgen’s products addresses the core operational and regulatory needs of trust, fund and corporate services providers, allowing customers to increase operational efficiency, comply with increasing regulatory demands and provide better client service.
About Touchstone Wealth Management
Touchstone Wealth Management is a leading global provider of wealth management administration and accounting systems. Touchstone is used by small to large trust and funds administration companies, family offices, corporate secretarial services and professional legal and accounting firms in over 30 global jurisdictions. It is a powerful business administration and accounting solution allowing its customers to increase operational efficiencies, while reducing administration costs. Touchstone is able to deliver a full range of business, technology and project related services through its highly qualified and experienced team of consultants.
IQ-EQ is a leading investor services group that brings together that rare combination of global expertise and a deep understanding of the needs of clients. We have the know-how and the know you that allows us provide a comprehensive range of compliance, administration, asset and advisory services to investment funds, global companies, family offices and private clients globally.
IQ-EQ operates across 23 jurisdictions globally and has assets under administration (AUA) exceeding US$400 billion. IQ-EQ works with seven of the top 10 global private equity firms.
Cognito for Microgen and Touchstone
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Simon is Global Head of Product and Marketing at TrustQuay