Report
Konrad Zomer

Intertrust : Sorting out its core business

>Significant remediation costs to impact adjusted EBITA - After announcing € 6.4m of one-off costs in Q2 2021, related to a regulator fine in the Cayman Islands (CIMA, € 4.3m) and legal and compliance costs, the company announced more remediation costs of € 10m for H2 2021. External consultants from the Big Four consultancy firms have come in across all its operations worldwide to assist with know-your-client (KYC) and source-of-wealth (SOW) administration. We see thi...
Underlying
Intertrust NV

Intertrust NV is a company based in the Netherlands. The Company provides trust and corporate services to corporations, funds, financial institutions and private individuals. Its services include formation and implementation, domiciliation and management, legal administration, accounting and reporting, intellectual property, carbon solutions, escrow, capital markets services, fund services, securitization and structured finance services, treasury management, depositary services and real estate solutions, among others. The Company operates offices in the Americas, Europe, Asia, Australia and the Middle East.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Konrad Zomer

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