TMF Group is today a major international player with recognized prestige. Can you introduce your firm in a few words?
(Joel) Sure! TMF Group, was founded in 1988 in the Netherlands and is a leading provider of critical administrative services. We have been building our reputation for almost 50 years and this reputation is key for us, our clients, our business partners and of course, our investors.
Our Luxembourg office employs more than 350 professionals whose expertise serves a wide range of clients such as private equity, real estate, capital markets, private clients and large corporations.
(David) At TMF Group, we are proud of the levels of governance and quality that inspire trust and confidence today. We provide the administrative services our clients need to run legal entities compliantly and efficiently. Our offer comprises a full scope of services from fund administration, domiciliation, directorship, corporate secretarial, accounting to tax compliance, HR & payroll, regulatory services (FATCA/CRS, MDR (Mandatory Disclosure Requirements) /DAC6, Beneficial Owner Register …), AIFM, depositary services and shareholder services, among others.
We can read “Global Reach, Local Knowledge” as part of the TMF Group brand, what does this mean to TMF, its clients, its business partners…?
(Joel) We have a presence in 86 jurisdictions with 121 offices fully operated by TMF Group and more than 10,000 employees; in a complex world, in continuous evolution, our highly qualified professionals are ready to help our clients to operate safely and stay fully compliant.
(David) Indeed, this global footprint combined with the local expertise is a key differentiator of our Group. We have global training modules, adapted locally for each market, that are followed by our colleagues worldwide to ensure this expertise. We are proud of our comprehensive training policy
(Joel) Also, we have, for example, in our Luxembourg office, more than 50 different nationalities to serve our clients of different jurisdictions worldwide, with some dedicated teams, as we believe that this cultural approach can make a difference, like for Spanish, Portuguese and Chinese speaking countries.
(David) Indeed, we have colleagues from Argentina, Colombia, Portugal, Brazil or Spain, to serve our clients from Iberia and Latam.
You mentioned a complex world in continue evolution: how can this affect the day-to-day business?
(Joel) We moved into a more regulated and sophisticated business environment where regulatory compliance processes are fully integrated into our general client services. In the last decade anti money laundering/countering the financing of terrorism directives, laws and regulations, or the action plan on base erosion and profit shifting, defined by the OECD (and its impact in regulations) have changed the way we see and do business.
(David) In addition, we established (alongside our core services departments), a Regulatory Services Department which took charge of the implementation of new provisions and regulations. TMF Group actively facilitates communication and exchange between local offices, aligning approaches, providing shared training, and launching shared projects, while ensuring that local offices create their own expertise and remain informed on domestic developments, working together for shared multinational clients.
The approach of linking local to global is typified by TMF’s continued commitment to producing its annual Global Business Complexity (GBCI) Index further assisting our clients in negotiating complexity worldwide.
(Joel) Actually, on 24 May we released the 10th edition!
Already ten editions!
(David) Indeed, we are very proud of it and ready for, at least, another ten years!
You are part of the Luxembourg office of TMF Group, what particularities have this office?
(Joel) As you know Luxembourg is leader in global fund distribution and the second largest investment fund centre in the World, with around EUR 5.2 trillion of assets under administration, beating records every year. Our jurisdiction is known internationally for its stability, from a political and economic point of view, offering the perfect framework for investors and business in general.
(David) In this context, TMF Group Luxembourg office is one of the largest where we serve Funds, Capital Markets, Corporates and Private Wealth clients. Moreover, TMF Fund Management, our Fund Management Company serving both alternative investment funds (AIFs) and Undertakings for the Collective Investment in Transferable Securities (UCITS), is key in our fund strategy, helping to develop our fund administration business. We are licensed to provide external AIFM services through client-centric fund structures. This includes the necessary portfolio and risk management, with our experts establishing the risk profile for each AIF and ensuring that you meet all regulatory requirements. We also cover distribution and marketing support, Annex IV reporting and other ancillary services, so you can be confident that everything is in hand.
(Joel) If we add to this element its exceptional team, our position as a leading provider of integrated solutions for fund managers is outstanding. A good example is that we have been recognized as best ManCo solution at the Private Equity Wire European Awards 2023.
Congratulations, you must feel very proud of this recognition as best ManCo solution. Fintech, Digitalization, AI… are becoming more and more common terms during our days, how TMF Group see the future of the business relations and the applied technology?
(Joel) Making a complex world simple for our clients is one of our objectives, while our clients want to focus on their core business. We are keen to have our clients recognize us for our flawless service and our strategy for the future is to continue investing in technology and innovation. We aim to keep offering our exceptional services while enhancing our unique combination of experts and delivery capabilities in every and each jurisdiction we operate.
(David) Yes, we want our clients to focus on what really matters to them. We recognize that innovation and technology is one of the pillars of the future and we will keep making the difference, in our extremely competitive business world. Our digital strategy brings transformative technology capabilities to create new digital delivery models, enhance the client experience and provide valuable insights and analytics.
(Joel) We want TMF Group to be famous not only for its exceptional services but also for the solutions offered to our clients…
(David) …as our next generation digital client platform or a global payroll intelligence solution.