Our strategy
The fundamental purpose of TMF Group Limited ("TMF Group") is to help our clients invest and operate safely around the world. We provide compliance and administrative services in 88 countries. Our broad footprint and set of services enable us to handle clients’ critical administration across their portfolio of legal entities around the world in a safe and controlled environment.
Our services cover these requirements efficiently and compliantly, managed in three global service lines:
Accounting and tax
Payroll and HR
Global entity management
Our clients include most of the Fortune Global 500 and FTSE 100. For reporting purposes, we group them as follows:
Corporate clients (operators); about 69% of 2025 total revenue (2024: 70%)
Financial services (investors); 31% of 2025 total revenue (2024: 30%)
For corporate clients, we focus on providing multi-disciplined administration services to clients of all sizes, ranging from single services in a single country to multiple services across their global footprint. For many of our clients, we provide services that help them operate their business in the complex ‘long tail’ of countries beyond their home market. We provide an efficient and effective service that allows them to operate compliantly across the globe.
For financial services, TMF Group focuses broadly on banks, asset managers, asset owners, sovereign wealth funds (SWFs), pension funds and those in the private wealth and family office space. Our model allows us to provide a full suite of services to these clients, who include many complex financial institutions for whom we offer corporate services such as entity management and payroll. In addition, we have invested heavily in the provision of more specialist services to this client group, including fund administration (alternative investment fund managers (AIFM), fund accounting, back and middle office services), loan administration services (especially in the private credit space), and capital market services (including agency, admin, escrow, trustee and asset servicing).
Through our platform, we can administer special purpose vehicles (SPVs) across the globe as an additional offering for asset managers. With our recent acquisition of EWM Global, we have further strengthened our credentials to administer complex compensation plans, including carried interest and co-investment vehicles for fund structures, and deferred compensation schemes that are commonplace at many financial institutions.
TMF Group has a strong origination platform and takes a systematic approach to the execution and integration of acquisitions. Leveraging the relationships of our 12,000 people across TMF Group provides a rich source of new opportunities that are a good fit with our culture and service offering. As a result, more than 95% of the 36 acquisitions that TMF Group has completed in the last five years have been bilateral opportunities. Our experience has covered deals in every geographic region and all service lines, including the build-out of our fund administration capability through acquisitions in the USA, Channel Islands, Luxembourg, Ireland and Brazil. Our execution expertise is complemented by our in-house integration capability, which ensures the smooth onboarding of acquisitions for our new clients and employees.
The way to invest and operate safely around the world
Our proposition
Critical administration in critical locations
Our platform
TMF Group organises the 88 countries in which we operate into nine markets grouped into three regions – EMEA, Americas (North America, Latin America) and APAC (Asia-Pacific). We have experts on the ground in these locations serving clients locally and as part of global client teams.
TMF Group has been in business, serving clients, for over 35 years. We have grown steadily over the decades, successfully navigating several global crises. This reflects our resilience, which stems from the following factors:
We operate in a large, growing and fragmented market. We address a €20 billion market that is growing rapidly as firms seek help dealing with increasing regulatory complexity in employment law, regulatory filings or fiduciary rules. We are one of the leading firms with an unrivalled global platform. With just a 5% share, we have a lot of room to grow.
We work with primarily global mandates. Over half of our revenue now comes from clients using our services in multiple countries. That proportion is growing in response to our commercial strategy. These relationships reflect our global footprint and operating model and are inherently stickier than those in a single country.
We provide business-critical and recurring services. Many of the services TMF Group provides – such as regulatory filing or accounting and tax services – are mandatory for our clients. As a result, our work is seldom vulnerable to economic downturns or shifts in clients’ strategies. As these services are recurring, we start each year with over 90% of our revenue secure, creating a stable cash flow.
We have a diversified and blue-chip client base. TMF Group works mainly with multinational firms who tend to be more resilient. Our largest client represents 2.3% of our revenue and we have low exposure to any single sector or country.
We are investing in technology. TMF Group has accelerated its investments in technology to enhance customer offerings, improve client satisfaction and efficiency, and reduce risk.
We enjoy strong cash conversion. TMF Group benefits from strong cash flow conversion. We are a service-focused business with a relatively modest need to invest in property, plant, equipment and IT software.
We apply robust controls. The Board is supported by centralised Group functions that operate on a ‘three lines of defence’ model. The KYC function at TMF Group is centralised. In addition, each employee is responsible for adhering to Group-wide Anti-Money Laundering (AML)/Countering the Financing of Terrorism (CFT) and sanctions policies. We have also invested in areas of critical risk, such as cyber security, including recent measures to enhance data security.
We help our clients invest and operate safely around the world. We provide the administrative services they need to run legal entities compliantly and efficiently, including accounting and tax filings, employee administration and payroll, incorporation and fiduciary oversight and regulatory services.
Within the broad space of administrative services, our strategy is to become the best solution for firms that have multinational entities to look after. Our unique footprint in 88 of the world’s most attractive investment hubs and economies, as well as our blend of services, mean we can manage operating and investment vehicles in various locations.
The following page outlines key elements of our strategy which reflect that overall goal.
