Apex Group has launched an escrow offering for North American clients, building on its long-standing European offering.
Escrow arrangements are commonly used by Apex clients, such as intermediary firms and private equity firms, to provide transactional support in a range of situations, including mergers and acquisitions, capital raising, pension scheme funding and international trade finance.
The launch follows the group’s announcement in March that it had rolled out additional corporate services in the region, through its local accounting, tax, payroll and employee benefits business. Its core service hub for these solutions will be the New York office.
“Along with the expansion of our subsidiary, Throgmorton, into the US a couple of months ago, the launch of locally delivered escrow services really signifies our intent for the region,” says Paul Wilden, global head of capital markets, Apex.
“We are focusing on the expansion of our capital markets offering to deliver local solutions that our clients operating and transacting in the Americas can benefit from. Debt-restructuring as a result of the current environment is an increasing trend and the expansion of our escrow offering means we have a broader solution to support our clients looking to leverage those kinds of opportunities.”
Apex has been pursuing the goal of expanding its services across the businesses of custody, depositary and management company (ManCo) services in a bid to become a one-stop securities services shop across multiple regions. Through acquisitions and new launches, the organisation has been aggressively growing in recent years under the guidance of CEO and founder, Peter Hughes.
“Services like this are critical to helping our clients run their businesses at this time and to help them to adapt to the current market environment,” adds Georges Archibald, head of Apex Americas. “We look forward to adding complementary services to our offering over the coming year.”