PUNE, INDIA, February 23, 2023 /EINPresswire.com/ -- The Trust and Corporate Services Market refers to a range of professional services that are provided to businesses and individuals for the purpose of managing and protecting their assets and financial interests. These services can include company formation and administration, trust formation and administration, and management of financial and legal affairs.

Trust and corporate services providers typically offer a range of services designed to help clients minimize their tax liabilities, protect their assets, and achieve their business and financial goals. These services are often used by multinational corporations, high-net-worth individuals, and wealthy families.

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The market for trust and corporate services is highly competitive and is dominated by a small number of large global providers. These providers typically have extensive experience and expertise in the industry, and offer a range of services to meet the needs of their clients.

The trust and corporate services market is largely driven by changes in regulations, as well as changes in the global economy and financial markets. The industry has seen significant growth in recent years, driven by increased demand for tax planning and asset protection services, as well as the increasing globalization of business and finance.

Overall, the trust and corporate services market is expected to continue to grow, as the need for professional and specialized services in the management of financial and legal affairs remains high. As the market continues to evolve, trust and corporate services providers are likely to focus increasingly on technology and innovation, in order to better serve the needs of their clients.

The global trust and corporate service market were valued at US$11.39 billion in 2022. The market value is expected to reach US$15.25 billion by 2028. The trust and corporate services provide a broad range of administration services to lend assistance to its clients to set up, structure, and manage their financial and investment decision. The trust and corporate service market is mainly focused on stable countries with high regulations.

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Impact Analysis of COVID-19 and Way Forward:

The COVID-19 pandemic has led to a considerable decline in business activities and hence a decline in the income of individuals. Therefore, demand for trust and corporate service providers observed a hit as the numbers of high-income-generating individuals plummeted. This has led to a slowdown in the demand for experienced personnel's needed for the management of finances such as structuring of their wealth, tax fillings, administrative services, and much more, thus hampering the overall growth of the market in 2020. However, the market experienced growth in 2021 with a gradual resumption of business activities as COVID-19 cases declined.

Competitive Landscape:

The global trust and corporate services market is highly fragmented. The key players in the global trust and corporate services market are:

Intertrust Group

JTC plc

TMF Sapphire Midco B.V. (TMF Group)

M&T Bank Corporation (Wilmington Trust)

Tricor Group

American Stock Transfer & Trust Company, LLC

Vistra

Cafico International

Apex Group Ltd. (Sanne Group)

Ocorian

IQ EQ Group Holdings S.à r.l.

Vivanco & Vivanco

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Some of the strategies among key players in the market are mergers, acquisitions, and collaborations. For instance, in 2022, JTC announced that the company had completed the acquisition of New York Private Trust Company (“NYPTC”), a Delaware-chartered non-deposit trust company. On the other hand, TMF Group announced the acquisition of Etive Consulting, a UAE-based company providing compliance advisory, governance support, and AML services, among others.

Ganesh Pardeshi
ReportsnReports
+1 347-333-3771
ganesh.pardeshi@reportsandreports.com
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