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.

The market has been driven by a highly qualified workforce, high-value services, personal relationships between clients and service providers, and increased globalization.

The factors that are expected to contribute to the market growth in the coming years include rising household wealth, greater corporate and tax regulation, as well as, more outsourcing of administrative services by private equities and real estate funds. The market is expected to grow at a CAGR of approx. 5% during the forecasted period of 2023-2028.

Market Dynamics:

• Growth Drivers: The global trust and corporate service market growth is predicted to be supported by numerous growth drivers such as escalating global GDP per capita, growing global HNWI wealth, growing opportunity in pension assets, high client retention rate, an increasing number of sovereign investors, upsurge in outsourcing, and many other factors. In recent years, the advent of new sovereign investors has directed the trust and corporate industry toward a huge demand raise for alternative asset management. The trust and corporate service providers are expected to generate innovative investment opportunities, financial arrangements, advisory relationships, and comprehensive funds which consent the sovereign investors to meet their objectives even in less developed countries.
• Challenges: However, the market growth would be negatively impacted by various challenges such as unstable globalization and FDI, failure of client relationship, shuddering global consumer confidence, increasing cyber threat, etc.
• Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as modifications in regulations, political and economic ambiguities, improvement and advancement in technology infrastructure, etc. The dynamic nature of technology has resulted in the execution of some new inventions in the trust and corporate service industry. Like any other industry, modification in the current technology is of top priority in the trust and corporate service market. It is the technology that stimulates the automatic exchange of data. One of the primary components of trust and corporate services is security and asset protection with the use of technology, for example Robo-advisory, KYC by voice recognition, etc. These technological tools are anticipated to further grow and reach every inch of the market.

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.a r.l.
• Vivanco & Vivanco

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.

Key Topics Covered:

1. Executive Summary

2. Introduction
2.1 Trust and Corporate Service: An Overview
2.2 Trust and Corporate Service Functions: An Overview
2.2.1 Functions of Trust and Corporate Service Provider
2.3 Trust and Corporate Service Segmentation: An Overview
2.3.1 Trust and Corporate Service Segmentation

3. Global Market Analysis
3.1 Global Alternative Assets Market: An Analysis
3.1.1 Global Alternative Assets Market: An Overview
3.1.2 Global Alternative Assets Market by Value
3.1.3 Global Alternative Assets Market by Asset Under Management
3.2 Global Trust and Corporate Service Market: An Analysis
3.2.1 Global Trust and Corporate Service Market: An Overview
3.2.2 Global Trust and Corporate Service Market by Value
3.2.3 Global Trust and Corporate Service Market by Segment (Corporates, Funds SPV, High Net-worth Individuals, and Others)
3.2.4 Global Trust and Corporate Service Market by Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa)
3.3 Global Trust and Corporate Service Market: Segment Analysis
3.3.1 Global Trust and Corporate Service Market by Segment: An Overview
3.3.2 Global Corporates Trust and Corporate Service Market by Value
3.3.3 Global Funds SPV Trust and Corporate Service Market by Value
3.3.4 Global HNW Individuals Trust and Corporate Service Market by Value
3.3.5 Global Other Trust and Corporate Service Market by Value
3.4 Global Fund Administrator Market by Number of Private Capital Funds Serviced
3.4.1 Global Fund Administrator Market by Number of Private Capital Funds Serviced

4. Regional Market Analysis

5. Impact of Covid-19
5.1 Impact of COVID-19 on Global Trust and Corporate Service Market
5.1.1 Impact on Market Growth
5.1.2 Most Common Sentiments of Private Equity Firms
5.1.3 Rising Complexity of Fund Structures
5.2 Post COVID-19 Impact on Global Trust and Corporate Service Market

6. Market Dynamics
6.1 Growth Drivers
6.1.1 Escalating Global GDP Per-Capita
6.1.2 Growing Global HNWI Wealth
6.1.3 Growing Opportunity in Pension Asset
6.1.4 High Client Retention Rate
6.1.5 Increasing Number of Sovereign Investors
6.1.6 Upsurge in Outsourcing
6.2 Challenges
6.2.1 Unstable Globalization and FDI
6.2.2 Failure of Client Relationship
6.2.3 Shuddering Global Consumer Confidence
6.2.4 Increasing Cyber Threat
6.2.5 Brexit Aftershocks
6.3 Market Trends
6.3.1 Modifications in Regulations
6.3.2 Political and Economic Ambiguities
6.3.3 Trust and Good Corporate Behavior
6.3.4 Low Entry Barriers
6.3.5 Improvement and Advancement in Technology Infrastructure
6.3.6 Strong Culture of Excellence

7. Competitive Landscape
7.1 Global Trust and Corporate Service Players by Market Share
7.2 Global Trust and Corporate Service Players by Market Structure
7.3 Global Trust and Corporate Service Market Players by Strategic Comparison

8. Company Profiles
8.1 Intertrust Group
8.1.1 Business Overview
8.1.2 Operating Segments
8.1.3 Revenue by Service Line
8.1.4 Business Strategies
8.2 JTC plc
8.2.1 Business Overview
8.2.2 Operating Segments
8.2.3 Business Strategies
8.3 TMF Sapphire Midco B.V. (TMF Group)
8.3.1 Business Overview
8.3.2 Revenue by Service Line
8.3.3 Business Strategies
8.4 M&T Bank Corporation (Wilmington Trust)
8.4.1 Business Overview
8.4.2 Revenue from Contracts with Customers
8.4.3 Business Strategies
8.5 Tricor Group
8.5.1 Business Overview
8.5.2 Business Strategies
8.6 American Stock Transfer & Trust Company, LLC
8.6.1 Business Overview
8.6.2 Business Strategies
8.7 Vistra
8.7.1 Business Overview
8.7.2 Business Strategies
8.8 Cafico International
8.8.1 Business Overview
8.8.2 Business Strategies
8.9 Apex Group Ltd. (Sanne Group)
8.9.1 Business Overview
8.9.2 Business Strategies
8.10 Ocorian
8.10.1 Business Overview
8.10.2 Business Strategies
8.11 IQ EQ Group Holdings S.a r.l.
8.11.1 Business Overview
8.11.2 Business Strategies
8.12 Vivanco & Vivanco
8.12.1 Business Overview

Source: YAHOO!