Trinity Financial, one of the biggest names in financial services and one of Europe’s largest companies, announced Thursday that it has formed a new company called Legacy Financial Services with the aim of bringing its business model to other businesses in the financial services industry.
The new company, which will be called Trinity Financial and will focus on the global banking sector, is part of a global push by Trinity Financial to become more integrated with its larger global business, according to a statement released by the company.
The company, based in Zurich, Switzerland, said it plans to have a full-time global head office in Zurich and will expand to other parts of the world as it develops.
The deal was announced in a press release by the Swiss-based bank, and Trinity Financial will take the helm of the Legacy Financial Group, which is responsible for servicing a wide range of assets across a number of businesses in financial institutions, the company said.
The statement said Trinity Financial expects to reach a strategic partnership with its global business partners, such as TD Bank, BNP Paribas, and UniCredit.
It said Trinity’s global business will also be expanding into other sectors, including technology and finance.
“The new Legacy Financial Service will be based in the U.S., and it will be responsible for providing services in the United States for our global banking customers,” the statement said.
“Trinity Financial Group will focus primarily on the financial market, and will have a broad portfolio of financial services in which we can provide our clients.”
Trinity Financial is the largest independent banking company in the world, with assets of nearly $20 trillion, and is currently in talks with some of the largest banks and investment firms to launch new products and services.
It also has partnerships with the likes of Wells Fargo and Bank of America.
Trinity Financial said it is a “world-leading provider of financial solutions to the global financial sector,” and its customers include global institutions, as well as smaller companies.
The bank said it expects to see an additional 100 people join the company in January 2019, and said it has plans to grow to more than 1,500 people.
The group will be headed by Trinity’s former CEO, John Phelan, who joined the company from Bank of Ireland in 2013, the statement noted.
Trinity was founded in 2001 by Phelans father, Robert, who also served as the head of TD Bank.
Phelanism is credited with launching the Irish banking industry in Ireland in the early 2000s, but he left the company after TD failed in a crisis in 2007.
Trinity became Ireland’s biggest bank by market value in 2013 and has since had an overall market value of more than $2.5 trillion.
Trinity is owned by the Irish government and has been in the news recently due to its role in the bailout of Ireland’s financial system.
Trinity, which has $1.2 trillion in assets, also operates a number the U-Block digital money exchange, as a subsidiary of its larger sister bank, Trinity Financial Group.
Trinity also has a major presence in Europe, where it operates a variety of financial institutions including UBS, Credit Suisse, Standard Chartered, and BNP.
The financial services company has offices in Switzerland, Singapore, the United Kingdom, Germany, and France.
The acquisition comes as the UBS Group, the largest bank in Europe and the U, has recently announced plans to buy the UB Group, a financial services group in London that operates a range of investment products and businesses.