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Intertrust Group
Year-on-Year Comparison Intertrust Group Average Score 2022 Average Score 2021 Average Score last 3 years Global Average Difference with Global Average Client Service 6.29 4.94 N / A 5.97 0.32 On-boarding 5.50 5.44 N / A 5.99 -0.49 Reporting to Limited Partners 6.00 5.33 N / A 6.06 -0.06 Reporting to General Partners 6.60 5.38 N / A 6.13 0.47 Reporting to Regulators 7.00 5.57 N / A 5.87 1.13 KYC , AML , Sanctions Screening 7.00 5.00 N / A 5.88 1.12 Capital Drawdowns and Distributions 6.40 5.88 N / A 6.16 0.24 Technology 6.00 5.00 N / A 5.62 0.38 Average 6.35 5.32 N / A 5.96 0.39
Intertrust Group has recorded perhaps the most substantially improved set of scores in this year ’ s PEFA survey , with an overall average rising from 5.32 to 6.35 . Responses come from US , UK and Hong Kong clients . Forty-one percent of respondents for the provider now rate its services as Excellent and 25 % as Very Good . It comfortably exceeds all survey category averages apart from On-boarding and Reporting to Limited Partners , though even the latter is in Very Good territory ( 6.00-6.99 ). One client describes reports to LPs as “ timely , accurate and with plenty of detail ”. The firm ’ s highest scores are for Reporting to Regulators and KYC , AML and Sanctions Screening , both of which are rated a perfect 7.00 . “ Intertrust responds quickly to any request on behalf of regulators . They work closely with us along the process ,” says one survey participant . At the other end of the scale , On-boarding records a score of 5.50 , slightly up on last year . One UK client commends the Luxembourg team as “ excellent at onboarding ”, while another gives a particular shoutout to the team in India . In December 2021 , financial services firm CSC reached an agreement to acquire Intertrust Group , having acquired PEF Services earlier in the year . Presenting Intertrust ’ s H1 results recently , CEO Shankar Iyer noted that , “ We are on track with the regulatory approval processes and expect the transaction to close in the second half of this year .” In March 2022 , Intertrust took the decision not to accept any new Russian or Belarusian clients and to begin the process of exiting phasing out Russian and Belarusian clients , though with no local presence , exposure is limited to Russian-owned entities in other jurisdictions .
94 Global Custodian Fund Services Annual 2022