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 Segmentation Analysis:
- By Segment: The report provides the bifurcation of the market into four segments: Corporates, Funds SPV, High Net-worth Individuals, and Others. Corporates held the major share of the market, whereas funds SPV is expected to be the fastest-growing segment in the forthcoming years. The demand for services by corporates has continued to rise in the past few years due to the high value-added administrative services and widely needed support services provided by trusts and corporate service providers, such as business advisory services and compliance services.
- Funds Special Purpose Vehicles (SPV) have thrived over the historic period owing to global economic expansion and increased globalization, which urged the necessity for outsourcing fund administration along with the basic trust and corporate services and inclined the demand for funds.
- By Alternative Asset: The market has been analyzed based on alternative assets. Alternative assets typically refer to investments that fall outside of the traditional asset classes commonly accessed by most investors, such as stocks, bonds, or cash investments. A surge in the global alternative assets market is attributed to the high performance of capital markets driven by accommodative monetary policies and substantial GDP Growth.
- By Region: The report provides insight into the trust and corporate service market based on the regions namely, North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America held the major share of the trust and corporate service market in 2022. According to World Wealth Report, North America retained its commanding lead for HNWI population growth (13.2%) and wealth (13.8%) in 2021. The robust tech sector fuelled powerful wealth performance. Thus, the increase in the HNWI population is expected to positively contribute to the demand for trust and corporate services.
- Asia Pacific is expected to be the fastest-growing region in the forthcoming years. In coming years, private equity and real estate funds are expected to see strong demand for trust and corporate services because of their industry’s growth and the increasingly complex reporting requirements that spur outsourcing of fund services.
- The increased need to comply with regulatory requirements is one of the key drivers supporting the trust and corporate service market growth in Europe. In the European trust and corporate service market, the UK held the highest share of the market in 2022 and it is also expected to be the fastest-growing region in the forthcoming years.
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.à 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.
Table of Contents
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
4.1 North America Trust and Corporate Service Market: An Analysis
4.1.1 North America Trust and Corporate Service Market: An Overview
4.1.2 North America Trust and Corporate Service Market by Value
4.1.3 North America Trust and Corporate Service Market by Region (The US, Canada, and Mexico)
4.1.4 The US Trust and Corporate Service Market by Value
4.1.5 Canada Trust and Corporate Service Market by Value
4.1.6 Mexico Trust and Corporate Service Market by Value
4.2 Asia Pacific Trust and Corporate Service Market: An Analysis
4.2.1 Asia Pacific Trust and Corporate Service Market: An Overview
4.2.2 Asia Pacific Trust and Corporate Service Market by Value
4.2.3 Asia Pacific Trust and Corporate Service Market by Region (China, India, South Korea, Japan, and Rest of Asia Pacific)
4.2.4 China Trust and Corporate Service Market by Value
4.2.5 India Trust and Corporate Service Market by Value
4.2.6 South Korea Trust and Corporate Service Market by Value
4.2.7 Japan Trust and Corporate Service Market by Value
4.2.8 Rest of Asia Pacific Trust and Corporate Service Market by Value
4.3 Europe Trust and Corporate Service Market: An Analysis
4.3.1 Europe Trust and Corporate Service Market: An Overview
4.3.2 Europe Trust and Corporate Service Market by Value
4.3.3 Europe Trust and Corporate Service Market by Region (UK, Germany, France, Italy, Spain, and Rest of the Europe)
4.3.4 The UK Trust and Corporate Service Market by Value
4.3.5 Germany Trust and Corporate Service Market by Value
4.3.6 France Trust and Corporate Service Market by Value
4.3.7 Italy Trust and Corporate Service Market by Value
4.3.8 Spain Trust and Corporate Service Market by Value
4.3.9 Rest of Europe Trust and Corporate Service Market by Value
4.4 Latin America Trust and Corporate Service Market: An Analysis
4.4.1 Latin America Trust and Corporate Service Market: An Overview
4.4.2 Latin America Trust and Corporate Service Market by Value
4.5 Middle East & Africa Trust and Corporate Service Market: An Analysis
4.5.1 Middle East & Africa Trust and Corporate Service Market: An Overview
4.5.2 Middle East & Africa Trust and Corporate Service Market by Value
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.à r.l.
8.11.1 Business Overview
8.11.2 Business Strategies
8.12 Vivanco & Vivanco
8.12.1 Business Overview
List of Figures
Figure 1: Trust and Corporate Service providers
Figure 2: Functions of Trust and Corporate Service Provider
Figure 3: Trust and Corporate Service Segmentation
Figure 4: Global Alternative Assets Market by Value; 2018-2022 (US$ Trillion)
Figure 5: Global Alternative Assets Market by Value; 2023-2028 (US$ Trillion)
Figure 6: Global Alternative Assets Market by Asset Under Management; 2022 (Percentage, %)
Figure 7: Global Trust and Corporate Service Market by Value; 2018-2022 (US$ Billion)
Figure 8: Global Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 9: Global Trust and Corporate Service Market by Segment; 2022 (Percentage, %)
Figure 10: Global Trust and Corporate Service Market by Region; 2022 (Percentage, %)
Figure 11: Global Corporates Trust and Corporate Service Market by Value; 2018-2022 (US$ Billion)
Figure 12: Global Corporates Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 13: Global Funds SPV Trust and Corporate Service Market by Value; 2018-2022 (US$ Billion)
Figure 14: Global Funds SPV Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 15: Global HNW Individuals Trust and Corporate Service Market by Value; 2018-2022 (US$ Billion)
Figure 16: Global HNW Individuals Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 17: Global Other Trust and Corporate Service Market by Value; 2018-2022 (US$ Billion)
Figure 18: Global Other Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 19: North America Trust and Corporate Service Market by Value; 2018-2022 (US$ Billion)
Figure 20: North America Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 21: North America Trust and Corporate Service Market by Region; 2022 (Percentage, %)
Figure 22: The US Trust and Corporate Service Market by Value; 2018-2022 (US$ Billion)
Figure 23: The US Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 24: Canada Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 25: Canada Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 26: Mexico Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 27: Mexico Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 28: Asia Pacific Trust and Corporate Service Market by Value; 2018-2022 (US$ Billion)
Figure 29: Asia Pacific Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 30: Asia Pacific Trust and Corporate Service Market by Region; 2022 (Percentage, %)
Figure 31: China Trust and Corporate Service Market by Value; 2018-2022 (US$ Billion)
Figure 32: China Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 33: India Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 34: India Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 35: South Korea Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 36: South Korea Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 37: Japan Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 38: Japan Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 39: Rest of Asia Pacific Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 40: Rest of Asia Pacific Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 41: Europe Trust and Corporate Service Market by Value; 2018-2022 (US$ Billion)
Figure 42: Europe Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 43: Europe Trust and Corporate Service Market by Region; 2022 (Percentage, %)
Figure 44: The UK Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 45: The UK Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 46: Germany Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 47: Germany Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 48: France Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 49: France Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 50: Italy Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 51: Italy Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 52: Spain Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 53: Spain Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 54: Rest of Europe Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 55: Rest of Europe Trust and Corporate Service Market by Value; 2023-2028 (US$ Billion)
Figure 56: Latin America Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 57: Latin America Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 58: Middle East & Africa Trust and Corporate Service Market by Value; 2018-2022 (US$ Million)
Figure 59: Middle East & Africa Trust and Corporate Service Market by Value; 2023-2028 (US$ Million)
Figure 60: Most Common Sentiments of Private Equity Firms Due to COVID-19; 2020 (Percentage, %)
Figure 61: Complexity of Fund Structures; 2020 (Percentage, %)
Figure 62: Global GDP Per-Capita; 2015-2021 (US$ Thousand)
Figure 63: Global HNWI Financial Wealth, 2015-2021 (US$ Trillion)
Figure 64: Global HNWI Financial Wealth by Region; 2021 (Percentage, %)
Figure 65: Global Pension Assets; 2011-2021 (US$ Trillion)
Figure 66: Global FDI, Net Inflows; 2015-2021 (Percentage, %)
Figure 67: Global Trust and Corporate Service Players by Market Share; 2022 (Percentage, %)
Figure 68: Trust and Corporate Services Industry Structure by Revenue (Log Scale)
Figure 69: Intertrust Group Revenue by Operating Segment; 2021 (Percentage, %)
Figure 70: Intertrust Group Revenue by Service Line; 2021 (Percentage, %)
Figure 71: JTC plc Revenue by Operating Segment; 2021 (Percentage, %)
Figure 72: TMF Sapphire Midco B.V. Revenue by Service Line; 2021 (Percentage, %)
Figure 73: M&T Bank Corporation Revenue from Contracts with Customers; 2021 (Percentage, %)
Table 1: Global Fund Administrator Market by Private Capital Funds; 2022
Table 2: Regulatory Changes and its Opportunities
Table 3: Global Trust and Corporate Service Players by Strategic Comparison
Companies Mentioned
- 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
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 141 |
| Published | January 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 11.96 Billion |
| Forecasted Market Value ( USD | $ 15.25 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
