Financial services firm Vistra Group with its head office in Hong Kong has entered a new market in Asia.
Vistra Group, a global provider of services such as company formations, trust, fiduciary and fund administration, has acquired IL&FS Trust Company Limited (ITCL), the largest independent Corporate Trust Services provider in India. ITCL, with its head office in Mumbai, was formerly a subsidiary of IL&FS Group, one of India’s leading infrastructure development & financial services groups.
ITCL was founded in 1995 and has grown to become a recognized brand name in the Trust & Fiduciary services space in India. Navita Yadav, the Chief Executive of ITCL, will stay on as Managing Director.
Significant Market Share
Laws in India mandate all issuers of listed bonds and debentures to appoint an independent trustee to safeguard the interests of investors. ITCL, registered by the Securities Exchange Board of India (SEBI) as a licenced trustee, has significant market share in the area of Debenture Trusteeship and Alternative Investment Funds.
«Joining the Vistra Group is the perfect next step in the further development of our services and expertise for the benefit of our clients. Becoming the most preferred international service provider has always been ITCL’s goal, and Vistra offers us the opportunity to keep growing with a wealth of global locations and resources to back us up, we look forward to our collaboration,» said Yadav.
The Vistra Group employs over 2,200 employees in 58 offices across 39 jurisdictions.
