Strategy
STM's strategy is to build an international group of CTSPs operating from a number of complementary tax efficient jurisdictions with each offering its clients high quality products and services. The Directors have outlined three initial principal criteria to be applied when assessing the suitability of an acquisition target, although these criteria are not intended to be exhaustive. The Directors will seek to acquire CTSPs which:
- bring to the Group a licence to conduct trust and company management business in a complementary jurisdiction to that of the existing Group; and/or
- provide the Group with complementary financial products or services which can be sold across the Group; and/or
- have portfolios of clients which can easily be integrated within an existing Group company, thus eliminating one set of fixed overheads (business process systems, compliance, finance and accounts, marketing etc). A high proportion of operating costs of CTSPs are fixed.
It is intended that potential acquisition targets will be subject to extensive due diligence, with a focus on quality of service and compliance and each will be required to adhere to Group-wide standards.