An intelligence layer for the new architecture of global capital.
Trojan IFSC is an independent research and advisory firm decoding cross-border finance for institutions, family offices, and operators who need clarity where the system has become opaque.
Founded where capital, regulation, and technology were colliding.
Trojan IFSC was established in 2018 at the intersection of three forces reshaping international finance: the rise of specialised financial centres from GIFT City to ADGM, the fragmentation of correspondent banking, and the migration of treasury, capital, and wealth into digitally-native structures. Our founders — former central bankers, sovereign-fund operators, and regulatory counsel — saw the same problem from different seats: the institutional knowledge required to move capital across borders had not kept pace with the new architecture of where it could be held.
What began as a quarterly briefing for a small circle of family offices and alternative asset managers has grown into a research and advisory practice serving pension fiduciaries, fintech platforms, mid-market corporates, and the legal counsel who structure their transactions. We remain deliberately focused: cross-border capital, the institutions that deploy it, and the jurisdictions that increasingly determine its path.
Editorial independence, institutional rigour, and zero conflicts of interest.
We are paid by our clients for our judgement, never for our silence. Three principles govern every engagement, every publication, and every conversation in our research practice.
Independence by design
We accept no placement fees, no sponsored research, and no payment tied to transaction outcomes. Our subscription revenue and advisory retainers are disclosed in every published note. The reader always knows who is paying for the view.
Rigour over reach
Our coverage is deliberately narrow and our standards deliberately high. Every claim is sourced, every model is auditable, and every recommendation is grounded in the legal, tax, and regulatory architecture as it actually exists — not as it is marketed.
Global by default
Our analysts are based in Dublin, GIFT City, Singapore, and London — not as a marketing footprint but because proximity to the regulators, the desks, and the family offices we cover is the only way the work is actually useful.
Seven years of focused, independent research on global capital.
The shape of the practice — readers, coverage, jurisdictions, and the institutions that trust our work to inform real capital decisions.
The desk behind the desk note.
Our research is led by practitioners who have actually sat on the other side of the table — drafting the regulation, deploying the capital, or structuring the vehicle they now write about.
Elena Marchetti
Former director of cross-border policy at the Banca d'Italia and counsel to the IOSCO cross-border working group. Leads the firm's research on IFSC architecture and regulatory interoperability.
Rohan Kapadia
Based in GIFT City. Twelve years structuring outbound capital flows from India, including the country's first regulatory sandbox vehicle for cross-border treasury operations.
Aoife O'Connell
Leads Trojan IFSC's advisory mandates for European family offices and pension fiduciaries. Formerly head of international private wealth at a Dublin-based AIFM with €14B AUM.
The institutions we serve don't need another pitch deck. They need a clear read on where the structure will hold, where it won't, and what the regulator will do when it is tested.— Elena Marchetti, Founding Partner
See how we work, and the industries we cover.
The about page tells you who we are. The next two stops tell you what we publish and who we publish it for.
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Our services overview details the research subscription tiers and the advisory engagements we accept — and the ones we don't.