Microgen Financial Services and Touchstone Wealth Management, which have recently announced a merger, have appointed David Thorpe as a non-executive director of the combined group.
Having announced their merger in November 2019 and completed in February 2020, the combined group plans to create the global market leader in the trust and corporate services market.
Keith Hale, Executive Chairman of Microgen and Touchstone, commented: “David brings to the board a rare blend of experience in both technology businesses as well as our core target market of corporate services, trust and fund administration, having previously been the President of EDS Europe and Chairman of Ocorian for example.”
David Thorpe, Non-Executive Director, said: “I’m delighted to join the merged group of Microgen and Touchstone at a very exciting time for the industry. I can see the team is extremely well placed to address the rapidly changing needs of corporate services, trust, and alternative fund administration by offering the most innovative best-in-class technology in the market.”
Microgen Financial Systems provides wealth and asset management technology solutions for front and back-office administration. The firm operates for over 30 years and has over 400 customers around the globe, ranging from some of the largest financial institutions to smaller independent organizations.
Microgen was founded in 1974 and addresses core operational and regulatory needs of trust, fund, and corporate services providers, allowing customers to increase operational efficiency, comply with increasing regulatory demands and provide better client service.
The merger between Microgen and Touchstone was backed by Silverfleet Capital, the leading Pan-European private equity firm, for £51 million. Silverfleet acquired Microgen in May 2019 as the second investment from its lower mid-market focused European Development Fund, with the ambition of building a market-leading platform in the Trust and Corporate Services market through accelerated organic growth and M&A.
Keith Hale joined as Executive Chairman to run the combined group and is working with both management teams on the strategy, oversees the integration and drives business development. Hale is the former CEO of Multifonds, a leading software provider in the fund administration sector. The company will have a combined workforce of over 150 people, with offices in Jersey, Guernsey, Cyprus, Singapore, Australia, and the United Kingdom. Microgen and Touchstone will continue to operate as two separate divisions with investment and product development continuing in their core products, NavOne and 5Series.