FOR IMMEDIATE RELEASE
HONG KONG SAR
July 28, 2023
Tricor and Vistra Announce Completion of Merger
Becoming a Global Industry Leader in Fund and Corporate Services
Tricor Group (Tricor), a leading business expansion specialist in Asia, is delighted to announce that following regulatory approvals, its merger with Vistra, one of the world’s leading fund and corporate service providers, has completed.
The combined business creates a powerhouse of over 9,000 professionals in 50+ jurisdictions, offering unrivaled quality, scale, and breadth of capabilities. This will enable clients to navigate the increasing complexities of establishing, managing, operating, and growing their business around the world.
Simon Webster, who joined Vistra in November 2022 as CEO, will be CEO of the combined business.
“This is an exciting day for both Vistra and Tricor colleagues and clients and is a significant milestone in the growth strategy of both organizations”, said Simon. “Vistra and Tricor are highly complementary businesses and have capabilities which together offer clients a range of significant value-creation opportunities. Through this combination, we can provide an expanded range of products and services across a broader geographic footprint supported by best-in-class technology.”
“We have an extraordinary future ahead of us as we create a new purpose-led company and shape the future of our industry. As we bring together the strengths and valued heritage of both Tricor and Vistra, I look forward to what we can achieve together – to deliver a consistent and frictionless client experience across the investment execution lifecycle”, said Simon.
Kim Jenkins, Tricor’s Group CEO, has been appointed as the Chief Operating Officer of the combined business.
“We are excited to join forces with Vistra, creating synergy for continued growth in the marketplace and to become the partner of choice for clients”, shared Kim. “For our colleagues, this combination provides incredible development opportunities that come with being part of a larger and more diversified organization. Our people are at the core of our business and the driving force behind our success, and we are committed to fostering a culture of growth, innovation and learning where our colleagues can thrive and contribute to our collective success.”
Although Tricor and Vistra are now legally one company, there are no immediate changes for clients. The business will begin to operate as one unified brand in early 2024.
The merged entity, headquartered in Hong Kong, continues to be owned by BPEA EQT, the Asian private equity arm of EQT, a purpose-driven global investment organization in active ownership strategies. Dominique Cerutti is the Board Chair for the merged entity.
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About Tricor Group
Tricor Group (Tricor) is Asia’s leading business expansion specialist, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, corporate trust & debt services, and governance advisory. Tricor provides the building blocks for clients’ business growth, from incorporation to IPO. Tricor has had a rapid expansion through organic growth and development as well as partnerships, mergers and acquisitions. The Group today has ~50,000 clients globally (including ~20,000 clients in Mainland China), a staff strength of ~3,000 and a network of offices in 49 cities across 22 countries / territories. Our client portfolio includes ~2,000 listed companies in Hong Kong SAR, Mainland China, Singapore and Malaysia, and more than 40% of the Fortune Global 500 companies, as well as a significant share of multinationals and private enterprises operating across international markets.
Ranked in the Top 3 in the industry, Vistra is a global Fund and Corporate Service provider with more than 5,000 professionals in over 45 jurisdictions. Vistra ensures clients reduce risk and enhance efficiency through the provision of expert advisory and administrative support. Vistra’s resilient, scalable, enterprise-wide technology platform is a core enabler of global economic activity. Vistra continues to innovate and grow together with its clients, it’s why Vistra represents 20% of the Fortune Global 500 and works with two thirds of the Private Equity International 300 firms, including every one of the top ten. The Market uses it to empower legal entities to work smarter, grow faster, act responsibly, protect capital and scale across borders.