Amsterdam, the Netherlands – 14 January 2019 – Intertrust N.V. (“Intertrust” or “Company”) [Euronext: INTER], a leading global provider of expert administrative services to clients operating and investing in the international business environment, announces today it is advancing the simplification of its organisational structure by replacing its current geographical setup of five segments, with a condensed regional approach, based on market size and characteristics.
Stephanie Miller, CEO Intertrust: “We are making good progress in the transformation of our company to become a tech-enabled corporate and fund solutions provider. Simplifying our management structure is another positive step in this journey. Building on executive leadership appointments I made last year for Technology, Operations, HR and M&A, these new reporting lines strengthen our business leadership to further increase focus, agility and accountability.”
The company will operate through three market areas:
The market area Western Europe consists of Belgium, Germany, Luxembourg, Netherlands and Switzerland (47% of H1 2018 Group revenue). Frank Welman, currently Managing Director of Intertrust Luxembourg, will be appointed Managing Director Western Europe, expanding his responsibilities to oversee this market area which includes our two largest jurisdictions.
The market area Americas, led by James Ferguson, remains unchanged and consists of Bahamas, Brazil, BVI, Canada, Cayman Islands, Curacao and USA (16% of H1 2018 Group revenue).
Rest of the World
The market area Rest of the World, led by Daniel Jaffe, consists of Asia Pacific (Australia, China, Hong Kong, Japan and Singapore); and Northern and Southern Europe (Cyprus, Denmark, Finland, Guernsey, Ireland, Jersey, Norway, Spain, Sweden, Turkey, UAE and UK). Rest of the World, which now includes Jersey, represents 36% of the company’s H1 2018 Group revenue.
The new structure will be reflected in the composition of the Company’s Executive Committee, with immediate effect. The Company will report according to the three above mentioned market areas as of Q1 2019, including the quarterly comparables for 2018.
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