Following regulatory approvals, fund and corporate services provider Vistra, has merged with Tricor Group, a business expansion specialist in Asia.
The combined business now has over 9,000 professionals in 50+ jurisdictions, offering scale, and breadth of capabilities.
Simon Webster (pictured), who joined Vistra in November 2022 as CEO, will be CEO of the combined business. Simon said: “This is an exciting day for both Vistra and Tricor colleagues and clients and is a significant milestone in the growth strategy of both organisations. 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”
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 organisation. 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 organisation in active ownership strategies. Dominique Cerutti is the Board Chair for the merged entity.