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Merger Creates a Global Compliance and Reporting Firm

AsiaNet 45376

LONDON, July 6 / PRNewswire-AsiaNet/ –

A world leader in corporate compliance and reporting services has been created, following the merger of TMF Group and Equity Trust. The two worldwide providers of global accounting, corporate secretarial and HR & Payroll services work for over 50% of the Fortune 500 and FTSE 250 companies.

The merged group will be known as TMF Group (http://www.tmf-group.com) and have combined revenues in excess of €400m. With more than 100 offices, in over 75 countries, it will offer clients and intermediaries a broad range of compliance and reporting services across the globe.

The new business will employ more than 4,000 people, made up of qualified accountants, lawyers, and corporate secretaries, HR and other professionals. These experts will help take care of local compliance requirements and other administration burdens, while allowing clients to focus on their global ambitions and core competencies.

Services include:

– Accounting and Reporting – a complete range of accounting and statutory reporting services, including the preparation and consolidations of reporting in any major standard (GAAP, IFRS).

– Legal Administration – full company establishment and management services in any jurisdiction in the world and ongoing corporate secretarial support, process agent, registered office and agent services.

The company is also able to offer local directors and shareholder structures where required.

– HR and Payroll – ensuring global HR policies, contracts and benefit schemes are comprehensively implemented and payroll payments are made securely.

Commenting on the merger, Hugo van Vredenburch, co-CEO of TMF Group, said: “The new TMF Group is unique in its focus on helping businesses globalize. Our professionals around the world help clients expand seamlessly across borders.

“This is an historic moment for both businesses. Creating the world leader in this industry has been the ambition of both companies for several years, and today we have realised this goal. Together, we have a huge global reach – and the right people and services.”

Frederik van Tuyll, CEO of Equity Trust, adds: “The two companies have strong foundations and share the same values, helping businesses globalize their operations. This, coupled with the combined group’s local knowledge and global reach, makes TMF Group a powerful force in today’s marketplace.”

The two businesses know each other well. “The skills sets are complementary, our cultures are very similar and both companies have the same ethos: clients come first,” comments Maria van der Sluijs-Plantz, co-CEO of TMF Group. “By merging our two businesses, we have created an international pool of professionals, focused on providing worldwide client solutions. Clients can now draw on the very best knowledge and expertise around the world, through a single point-of-contact, to help them achieve their goals.”

Notes to Editors:

TMF Group

TMF Group is a provider of global accounting, corporate secretarial, HR and payroll services. Through its global network of 87 offices in 67 countries, the group serves more than 21,000 entities for its multinational clients. TMF has grown quickly in recent years with revenues increasing by €156.6 million (or 287%) between 2005 and 2010.

Equity Trust

Prior to the merger, Equity Trust business employed more than 1,200 people in over 40 offices around the world, servicing over 14,000 entities. Equity Trust acquisitions have included: administration operations of Standard Chartered Bank in 2004; ABN AMRO Bank (2005); Ernst and Young’s domiciliation and corporate secretarial services in Luxembourg (2006); and in 2008, Equity Fund Services, the fund administration unit of Equity Trust, was merged with Custom House Global Fund Services.

For more information contact Richard Asquith, TMF Group, Head of Group Marketing and Communications, +44(0)79-777-23645 richard.asquith@tmf-group.com

http://www.tmf-group.com

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