Weekly Market Intelligence - Nov 15, 2025:The Strategic Inflection Point

Written By Frédéric Sanz

The trust and fiduciary services industry reached a critical inflection point this week, with JTC Group's £2.7 billion takeover by Permira at 26.2x EBITDA—one of the largest trust and corporate services transactions announced in 2025—signaling that private equity buyers are paying significant premiums for firms with clear AI transformation roadmaps.

While Permira has not disclosed its specific value creation targets, the acquisition thesis centers on AI-driven operational transformation, with CEO Nigel Le Quesne explicitly stating the partnership will enable "operational transformation through investment in AI" alongside M&A expansion.

Simultaneously, groundbreaking IRS guidance on digital asset staking (Revenue Procedure 2025-31, effective November 10, 2025) removed major tax barriers that market participants believe could unlock substantial institutional custody opportunities previously constrained by uncertainty.

TMF Group is surging ahead with its BlackRock Aladdin partnership, delivering real-time fund transparency and setting a decisive lead. As revealed in our last week’s report, Ocorian is intensifying its digital push with bold senior tech hires, while Vistra is accelerating the gap even further with an AI-powered platform—making it clearer than ever who’s rewriting the industry’s future and who’s being outpaced by it.

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Frédéric Sanz

With over 20 years of elite financial expertise in Switzerland, I specialize in managing UHNWIs assets, leading high-performing teams, and driving innovation in wealth management. As a TEP, MSc., MAS, and Executive MBA with AI diplomas from MIT and Kellogg, I combine deep technical knowledge with strategic leadership for business growth.

A blockchain specialist, I deliver exceptional revenue growth while elevating client satisfaction. Fluent in Spanish, French, Italian, and English, I offer a global perspective, blending advanced AI-driven strategies with traditional wealth management.

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