ITCL, which was founded in 1995, has offices in New Delhi, Kolkata, Chennai and Bangalore, with headquarters in Mumbai. The firm provides trusteeship and fiduciary services to clients including financial services firms, government agencies, funds and high net worth individuals. Its family office services, which include succession planning and intergenerational wealth transfer, cater to wealthy Indian families and ultra-high net worth individuals. 

ITCL was previously part of India’s IL&FS Group, an infrastructure development and financial services group. It administers over INR600,000 crores ($90 billion) in assets.

Navita Yadav will stay on as managing director of the firm.

“Vistra offers us the opportunity to keep growing with a wealth of global locations and resources to back us up. Our modus operandi and people remain the same and it will be business as usual for all our employees, clients and ITCL management team. We look forward to our collaboration,” she said in a statement.

“Vistra has been looking for some time to enter the Indian market, which we see as a key emerging market for our range of services, and ITCL provides the perfect fit. They are a quality organisation with large market share and a total focus on client service. Their qualified and professional management team have extensive experience in the sector,” said Martin Crawford, chief executive of Vistra Group.

In January, Vistra, which operates from 58 offices across 39 jurisdictions, announced the acquisition of globalOne, a Zurich-based family office and consulting company with a strong focus on Asia. A month later, it acquired Nortons Group, a UK-based provider of business expansion services.