TMF Group and Equity Trust have merged to create a global corporate compliance and reporting service firm. As part of the plan, Equity Trust’s private client business will be extended and rolled out further, a spokesperson for the newly-merged firm told Family Wealth Report.

The combined business will take the TMF Group name globally, spelling the end of the Equity Trust brand. However, in the short-term it is understood there will still be some businesses operating under the old brand in a few territories.

The company will have some 100 offices in 74 countries, with around 4,000 employees. It is understood there will be no layoffs as a result of the deal, and that all of the services currently offered by both firms will be continued.

This means that Equity Trust’s private client division will remain, and TMF Group’s strategy is to use the combined pool of talent and business overlap opportunities to strengthen this offering globally.  

“This is very much a growth story – our markets are getting bigger and all our service lines are increasing,” the spokesperson said.

The deal was initially announced last September, but depended at the time on receiving regulatory approval in a number of jurisdictions.