Vistra said its new offices, in Madrid and Barcelona are aimed at targeting what the company sees as growing opportunities in Spain and the Americas. In addition to working with Spanish companies in Spain, it said it is also looking to work with internationally-focused Spanish corporations.
Oscar Garcia will head up the new Vistra operations, as managing director of Vistra Spain and executive director of the Latin American market.
Garcia previously has advised domestic and foreign companies across a range of specialist areas in the Spanish market, and has designed products used in accounting, taxation, payroll services, commercial services, trademarks and public administration.
Garcia said Vistra’s new offices in Spain would look to help companies facilitate their inbound and outbound investments from and into Spain.
“Spain also occupies a political and economic strategic position for companies wishing to access southern Mediterranean and North African markets," he noted.
"Nearly 13,000 foreign companies are established in Spain, many of which are among the Forbes top 100 multinationals. The country has therefore been recognised as an important market and as a gateway to a significant number of potential clients."
Vistra said it believes Spain offers an important strategic entry point for clients seeking investment and structuring products for the Latin American markets, given the continent’s natural resource wealth and rapidly growing economies.
It will offer its corporate clients a range of consultancy and operational services including company formation, offshore incorporations, fund and structuring advice.
Vistra has recently opened dedicated Russian and Chinese desks in its (European office) network to support clients interested in expanding into these other increasingly important regional markets.
In other news at Vistra, the company said it has acquired Althea, a privately-owned trust and corporate services provider in Geneva.
The company also said it has now purchased the 50% stake in Centrapriv Group, the Zurich-based fiduciary and corporate consultancy company, that it previously did not own.
It said it now employs more than 60 staff across its Geneva, Zurich and Zug offices.
Walter Stresemann, managing director of Vistra Geneva said Switzerland was a key location: “We see the jurisdiction continuing to be an important wealth management centre, benefiting from asset inflows originating in high-growth regions.
“By bringing Althea and Centrapriv fully into the Vistra Group, we will be able to offer their clients a broader range of services through our worldwide network.”