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 will 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.