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The acquisition of Concord is the latest transaction in IQ-EQ's rapidly expanding operations in the U.S., following off the back of two other successful acquisitions in recent months, which includes U.S. based Constellation Advisors LLC (January 2021) and Blue River Partners LLC (June 2020). Now that regulatory approval has been granted work to integrate Concord into the Group's U.S. and global businesses can now begin. A rebrand of the Concord business to IQ-EQ will take place as part of this process.

Concord is a leading independent U.S. based trust company with a focus on open architecture, high-end professional independent trustee services, and related administration and compliance services. With operations in both New Hampshire and South Dakota, the company's geographical location is primed for the U.S. Private Wealth independent trust space, with access to the well-established advantages of New Hampshire's and South Dakota's trust and trust tax laws, for both domestic and foreign (U)HNW clients alike.

Mark Fordyce, CEO of IQ-EQ U.S. will assume overall responsibility for the Group's expanded U.S. operations. Concord principals, Christopher "Chip" Martin and Andrew Powell will continue as President and Chief Operating Officer respectively, linking into the IQ-EQ U.S. senior leadership team. Both Chip and Andrew will also be joining IQ-EQ's global Private Wealth leadership committee headed by Steve Soki?, Group Head of Private Wealth.

This latest acquisition reaffirms IQ-EQ's ongoing commitment to the U.S. market and takes the Group one-step closer to achieving its strategic objective to become the leading independent multi-asset class administrator and fiduciary provider globally for (U)HNW families and executives, family offices, fund managers and institutions.

Commenting on the completed transaction, Christopher "Chip" Martin, President of Concord, said: "I'm delighted to officially become part of IQ-EQ Group and look forward to getting actively engaged in integrating the two businesses as quickly as possible. Since first announcing the news back in April, the reaction from our clients and employees has been overwhelmingly positive, and we look forward to working as part of a leading global trust and asset administration services provider. IQ-EQ's model of providing independent and complementary fiduciary and related administration services to clients' trusted investment, legal and estate planning advisors complements our established independent professional trustee model."

Steve Soki?, Group Head of Private Wealth IQ-EQ, added: "With the necessary approvals now in place we can set about integrating our two businesses, a process we'll work on in close partnership over the coming months. Like the Concord team, news of this transaction has been extremely well received by clients, their advisors and our employees. On behalf of the rest of my IQ-EQ colleagues located across the globe I'd like to welcome the Concord team into the business. We're excited about building our U.S. presence and growing our reputation together as the globally recognised independent trustee and asset administration services provider of choice to (U)HNW families, executives and family offices in the U.S. and worldwide."