The consolidation of the financial market has reached the fiduciaries of Liechtenstein. Four firms are joining their forces.
Four fiduciary firms based in the principality, Zentauros, ZEN Tax Consulting, Trevalis and TTA have agreed to put their businesses together, according to a statement sent by email on Tuesday.
The group will work under the umbrella of TTA Trevisa-Treuhand-Anstalt. It will be one of the bigger fiduciaries in the principality, which is wedged between Austria and Switzerland. Based in Balzers, the 17 employees of the four partners will start working under the new company name in January, 2016.
Clemens Laternser (ZEN), Romano Rheinberger (Zentauros), Yvonne Nägele (TTA) and Mario Frick (Trevalis) are members of the board of TTA Trevisa, according to the statement.
Regulation Leads to Higher Costs
The company will offer the whole range of trust services, including advice on financial security, handover plans for companies and holding structures.
TTA Trevisa will work in close coordination with the financial market of the principality, offering financial services with partner banks, fund managers and wealth managers.
«The international clients of the financial market in Liechtenstein demands an ever broader knowledge base,» the four partners said in the statement. «A further aspect accelerating the merger plans was the pressure from regulatory demands in the financial services sector, leading to higher fixed costs.»
The partners hope to dampen the effect on margins by increasing the size of their company.
