The provider of administration services for investment funds and companies will be headed by Régis Leleu, who comes from Citco in France. Intertrust points to a favourable business environment in the country for the development of its activities, particularly in real estate and private equity.
Intertrust has just appointed Régis Leleu to head up its first office in France, which is due to open "soon".
The new country manager previously worked at Citco France, another administration services company, where he held various positions for nearly 15 years before taking over as its director from May 2014 until last month.
550 employees in Luxembourg
The Dutch group has about 4,000 employees worldwide in 30 different countries. It has been present in Luxembourg since 1955 where it employs 550 people. The group generates approximately 40 % of its turnover in Europe and 25 % in the United States. Its main clients are asset management companies and corporations.
"Régis Leleu is a trained lawyer and a former corporate counsel. With a strong background in financial services, he brings his expertise in business development, administrative and financial management of client portfolios and foreign investment funds, with a particular focus on real estate and private equity", explains the group in the release.
The new Paris office is designed to offer a full range of tools to help you navigate the complexity of doing business in France: "International investors in France are often faced with a large amount of paperwork, most of which is mandatory. There are also additional levels of compliance for opening local bank accounts and complex tax issues, as well as different accounting and SPV (Special Purpose Vehicles) rules.".
Very strong fundamentals
The group points to the post-Covid dynamism of the French economy, as well as the rebound of the real estate and private equity sectors, as favourable for the development of its business:
"Since the onset of the pandemic, France has taken significant steps to bolster its economy, launching a €100 billion stimulus package to become more competitive, innovative and carbon neutral. This unprecedented stimulus package is expected to support GDP growth of 5.9 % in 2021, according to the Organisation for Economic Co-operation and Development (OECD). We have very strong fundamentals in France because the government is strongly pro-business"says Régis Leleu.