IQ-EQ: IQ-EQ Enters Australasian Market Via Acquisition

Luxembourg-based fund services firm IQ-EQ has made an entrance into Australia and New Zealand with a new acquisition.IQ-EQ has agreed to acquire the AMAL Group - a provider of corporate trust, agency services and loan servicing solutions with operations in Australia and New Zealand - according to a statement. The transaction, which includes Nomura as the financial advisor, is subject to regulatory approval from Australia's Foreign Investment Review Board (FIRB).The acquisition of AMAL Group includes AMAL Asset Management, AMAL Corporate Holdings and their subsidiaries collectively. In total, AMAL has in excess of A$37 billion ($23.5 billion) of funds under administration and supervision in Australia and New Zealand. Former principals, Nick Procter and Tony Grant, will continue to lead the business and will join the senior leadership team of IQ-EQ Asia ensuring continuity of the day-to-day delivery of services.Four Key SegmentsAccording to IQ-EQ group CEO Mark Pesco, AMAL Group focuses on four key reporting segments of trustees: securitization, wholesale loans, funds, and managed investment trusts.«As the only scaled end-to-end provider of trustee services and loan administration in Australia and New Zealand, this positions us to grow our corporate trust and loan administration business in synergy, cross-selling into our global client base and servicing our existing global clients amid growing demand for services in these new markets,» Pesco said.Following regulator approval of the deal, AMAL will be rebranded to IQ-EQ and the enlarged group now have a total of 6,000 employees with an operation presence in 27 jurisdictions globally.