A needle in a hay stack
We needed the support of our international network to identify potential candidates. Through talking to 120 international private client lawyers, accountants and UHNW relationship managers, trust providers and other specialists, we were able to identify 44 trust companies with the relevant capabilities. Each firm was contacted to validate the decision to place them on the long list.
We then devised screening criteria to produce a short list of 12 firms.
Simultaneously, we examined the dynamics at play in the international trust market to determine how a relationship could be structured to bring value to both partners. We presented several options and in agreement with our client, we selected the strategy that had the highest chances of success.
Detailed discussions were held with each of the shortlisted firms to determine the level of interest in engagement and suitability.
Throughout the process, we ensured the identity of our client remained confidential. In fact, we introduced our client to only four of the firms and a successful relationship was established. Given the complexities of the business flow, commitment was required on both sides to educate, migrate and build.