Microgen Financial Systems has completed its merger with Touchstone Wealth Management, a provider of wealth management administration and accounting systems.
The merger of Microgen and Touchstone is set to enable the combined company to provide the increased global coverage, scale and innovation to meet the requirements of a rapidly evolving market.
As the merger completes, IQ-EQ, an investor services group, has signed an agreement to extend their relationship to use the software across all its global offices.
According to Microgen, the fiduciary, corporate services, trust and fund administration industry is both growing significantly and consolidating into an ever-reducing number of leading global service providers.
These providers, including IQ-EQ, demand global coverage, but with increased regulatory and digital capabilities, as well as support for changing fee models, Microgen explained.
Christiaan van Houtven, COO of IQ-EQ, commented: “I’m pleased to have extended our relationship with Microgen and confident that their merger with Touchstone will underwrite their commitment to us and the rest of the market, based on their increased scale and capacity to deliver the technology innovation we need as we continue to evolve.”
Keith Hale, executive chairman of the Microgen and Touchstone merger, said: “I’m delighted that the merger has completed, so we can continue to quickly progress the integration, enabling us to service our clients in the best possible way.”
“I’ve already been very impressed with the great chemistry between the teams. Everyone shares the joint goal of providing innovative, resilient, secure and modern technology to the corporate service, trust and fund administration market. Signing the extension with IQ-EQ is a great example of how we can support our customers to grow globally,” Hale added.
Elsewhere, IQ-EQ recently strengthened in the UK and Ireland by bolstering its executive leadership team.
