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Mercator Focus: Q3 2024 Foreword
I am pleased to share with you the Q3 newsletter from Mercator ® by Citco (Mercator).
To start this issue, I’d like to extend my personal thanks to all those who took the time to feed into this year’s Mercator Client Satisfaction Survey. We received our highest overall score yet, and use this invaluable feedback to further enhance our offering and prioritize those items you’ve highlighted for development.
I am extremely proud to see our clients cite ‘Team and People’ as the thing they most value about our services. Our people and their commitment to client service excellence sits at the core of Mercator’s offering and it is how we have been able to build and maintain long-standing partnerships.
Last year Mercator celebrated 15 years since signing our first client, the Citco group of companies (Citco) celebrated 75 years in business, while we also marked regional milestones including 10 years of operating successfully in Manila. Such longevity demonstrates the strength of our foundations and the partnerships built with our clients.
Also in this quarter, Jurate Kisieliene, Head of Client Service headed to the United States in July, travelling across five states to meet with clients and colleagues from our Delaware and Canada offices.
I also had the pleasure to visit our Center of Excellence in Vilnius to catch up with some of the team managers and client service teams. These teams are at the heart of what we do for our clients, on a day-to-day basis, and it was great to work through some strategic sessions and analyse just how our role as servicers of entity portfolios has grown and evolved over the years.
In September, Jurate and I, together with several Vilnius-based colleagues, visited the Netherlands to meet with our local team and continue with our annual client Steering Committee meetings. These meetings are in-valuable, providing an opportunity to take stock of our partnerships and discuss upcoming developments and priorities.
Our Business Development team were on the ground attending the Society for Corporate Governance National Conference in Maryland and the Economist’s General Counsel Summit in New York. Not only do these events serve us an opportunity to reconnect with peers, but they also aid us in keeping a pulse on the trends and challenges impacting the inhouse and co-sec legal community around the world.
And so to the content in this newsletter. We first start in Canada, looking at the changes on the horizon for ESG reporting requirements, before heading to Mexico with a client case study summarising the challenges and considerations for ensuring Ultimate Beneficial Ownership compliance. We then turn to India, looking at the 10 key steps to opening a bank account – an area where we know many have struggled with or found frustrating to navigate – before finally rounding up this newsletter with an overview of the local nuances when navigating entity management in Japan.
Looking ahead, towards this final quarter – once again we will be hosting an event in London in partnership with the Chartered Governance Institute of UK and Ireland (CGIUK). More details to follow.
Our team will also shortly be on the ground at the Association of Corporate Counsel (ACC) Annual Meeting in Nashville along with December’s Latin American Corporate Counsel (LACCA) Live Regional Meeting in Miami. As ever, if you’re attending, please do reach out or drop by our booth to say hello!
Kariem Abdellatif
Head of Mercator by Citco, Citco C&T Holdings (Luxembourg) S.à.r.l
