What You Need to Know
The acquisition of Concord Trust Co. will mark IQ-EQ's entry into the U.S. private wealth market.
This is the latest step in the U.S. growth strategy of IQ-EQ, which has about $500B in AUA.
Luxembourg-based IQ-EQ already has an established position in the European private wealth market.
The global investor services firm IQ-EQ is entering the U.S. private wealth market by signing a deal to acquire Concord Trust Co., a company with $1.9 billion in assets under management.
The strategic acquisition is part of IQ-EQ’s growing U.S. operations and follows its purchase of the alternative asset service provider Blue River Partners last June and Constellation Advisers, an investment management consultancy, in January.