Intertrust acquires Wells Fargo Trust Corp.

Lilia
By Lilia January 16, 2020 13:23

Intertrust acquires Wells Fargo Trust Corp.

Intertrust, which provides tech-enabled fund and corporate solutions, has expanded its presence in the aviation finance sector with the acquisition of London-based Wells Fargo Trust Corporation Limited. With this acquisition, Intertrust has gained Wells Fargo’s portfolio of trust and agency aviation engagements in place at the time of completion of the acquisition, which occurred on 13 December 2019.  

Intertrust has changed the name of the company to Intertrust Trust Corporation, which will be integrated into Intertrust’s Capital Markets service line, led by Cliff Pearce. 

The acquisition complements Intertrust’s existing capital markets trustee business by broadening its aviation finance client base, as the company expands its capabilities in preparation for the new Global Aircraft Trading System (GATS). The deal will also act as a springboard for Intertrust to expand its presence in this sector worldwide.  

Intertrust already has a strong presence in the aviation finance sector; with dedicated teams of experienced legal, accounting and tax professionals based in Ireland, Hong Kong, Singapore and Cayman. Intertrust’s experience with aviation finance structures include operating and finance leases, pre-delivery financing, export credit agency supported finance, lease-in/lease-out transactions, operating lease platforms with multi-jurisdictional SPVs and securitisations of aviation assets. 

Cliff Pearce, Global Head of Capital Markets, said: “We are delighted to announce the acquisition of Wells Fargo Trust Corporation Limited and its portfolio of aviation engagements. This transaction significantly strengthens our presence as one of the few global service providers in the aviation finance sector and underlines our wider strategy of pursuing selective and value-enhancing acquisitions to increase scale, complement our existing service offering, and enhance our global footprint and technological capabilities. 

“We have witnessed significant growth in the aviation sector over the last decade and conditions remain positive going forward; Asia-Pacific and China remain very buoyant markets due to higher levels of economic growth and a rising middle class with a greater appetite for travel. Macroeconomic conditions are increasingly pushing investors towards less volatile asset classes and aircraft leasing provides fixed incomes over long periods, offering investors predictable and consistent earnings,” adds Pearce.

Lilia
By Lilia January 16, 2020 13:23