Under the terms of the merger, which is due to be completed in the fourth quarter of this year, Mercuria Services S.A. will merge into The Directors’ Office S.A. to form MDO Services S.A. and Mercuria Management Company S.A. will merge into TDO Management Company S.A. to form MDO Management Company S.A. Existing contractual relationships with clients will remain unchanged. The risk management partnership with Independent Risk Monitoring Ltd. through Mercuria Independent Risk Solutions S.A. will be further developed.

MDO Services S.A. will operate from larger offices close to the airport in Luxembourg-Hamm. The new company will have a highly qualified multilingual staff drawn from 10 different nationalities including qualified financial analysts who will support 13 independent Directors in the execution of their duties.

The merger is the result of a strategic decision by the Boards of Mercuria Services S.A. and The Directors’ Office S.A to create a single important player providing seamless services in fund governance, substance, compliance, supervision of delegations, risk management as well as third party management company services.

The Board of Directors of MDO Services S.A. will be drawn equally from the Boards of Mercuria Services S.A. and The Directors’ Office S.A., and will be made up of Marie-Jeanne Chèvremont (Chairman), Nicolaus Bocklandt, Géry Daeninck, Claude Kremer, Yves Wagner, and Patrick Zurstrassen. Patrick Zurstrassen will be President of the Management Committee which will be composed of Managers from both companies.

Commenting on the merger, Marie-Jeanne Chèvremont, designated Chairman of MDO Services S.A., said, “This merger will deliver substantial benefits for customers and employees as it brings together two highly successful teams with proven records of innovation and a shared strategic commitment to achieve growth. We will be in a strong position to offer a wider range of and indeed new services to the Luxembourg financial market place.”

Patrick Zurstrassen, Chairman of The Directors’ Office S.A., added, “We are delighted with this merger as there is an exceptionally good fit between our two businesses – we have a complementary service offering, shared strategies and cultures. We believe that this merger will deliver economies of scale and significant additional opportunities for growth. It also has the advantage of maintaining independence from financial institutions although we will have not ruled out entering into new partnerships as opportunities present themselves.”

 

The Directors’ Office S.A.

The Directors' Office is comprised of two sister companies, The Directors' Office S.A. and TDO Management Company S.A. The Directors' Office S.A., a practice of independent directors, supported by a highly qualified and professional staff, is the first company of its kind to have been organised in Luxembourg. The Directors' Office S.A. is licensed as a financial professional (PSF) and a Domiciliary Agent. TDO Management Company S.A. is a UCITS III Management Company under Chapter 13 of the Law of December 20th 2002.

Mercuria Services S.A.

Mercuria was established in 1994 to act as domiciliation agent to Luxembourg companies. The company was granted a license by the Ministry of Finance in November 2001 to operate under the status of PSF. Since 2004 it has also provided services to regulated investment companies and management companies managing regulated investment companies and funds. Mercuria Management Company S.A. was launched on 12 January 2006 as a wholly owned subsidiary of Mercuria Services S.A. Mercuria Management Company S.A. is a management company pursuant to Chapter 13 of the Law dated 20 December 2002. Mercuria Independent Risk Solutions S.A. was founded on 6 September 2007 by Mercuria Services S.A. and Independent Risk Monitoring Ltd.