• Transfer of business to TMF supports continued expansion of TMF Group service portfolio in Latin America
• Experienced corporate trust employees in Brazil to join TMF Group
17 October, 2016 – TMF Group, a global provider of high value business services to clients operating and investing internationally, announces that it will take over the corporate trust book of business of Deutsche Bank in Brazil.
TMF Group has been expanding its Trust and Corporate Services footprint in Latin America – including Structured Finance and Capital Markets services – as part of its global service line strategy and long term growth plans. Trust and Corporate Services are already available in neighbouring countries such as Argentina, Uruguay, Chile, Peru and Mexico.
In addition, the London-based company offers a range of Global Business Services – including Accounting & Tax Services, HR & Payroll Services and Corporate Secretarial Services.
Raimundo Diaz, Head of Americas at TMF Group, explains: “This transfer will enhance TMF Brazil’s ability to participate in the nation’s economic recovery, positioning the company as a trusted independent party in financial transactions such as loans, M&A, debt restructuring, project finance and other sensitive activities that require expertise, control and compliance.”
Under the terms of the transfer, and upon the completion of certain conditions, the corporate trust accounts currently administered by Deutsche Bank’s Brazil unit will begin to be administered by TMF Group starting on or about October 30, 2016.
Deutsche Bank´s corporate trust team will join TMF Group as part of the transfer, allowing current corporate trust clients to be supported by the same team of professionals.
TMF Brazil, which acquired PwC’s Brazilian outsourcing division in March 2015, has experienced steep growth in recent years. The Brazil unit numbers over 700 employees, who support companies of all sizes, both local and international.
For further information, please contact:
Tel: +1 305 860 1000 ext 178
About TMF Group:
TMF Group is a leading global provider of high value business services to clients operating and investing globally. It focuses on providing highly specialised and business-critical financial, legal and human resource administrative services that enable clients to operate their corporate structures, finance vehicles and investment funds in different geographical locations. TMF Group has operations in more than 80 countries across the Americas, Asia Pacific, Europe and the Middle East.