“Singapore has become a critical hub for global wealth management, and we are thrilled to deepen our presence in Asia to better serve our clients,” said Richard Pease, Regional Director for Trident Trust. His words reflect the strategic intent behind the firm’s latest move: the opening of a new office in Singapore, a development that underscores the city-state’s ascendance as a premier destination for high-net-worth individuals (HNWIs) and family offices.
Trident Trust, one of the world’s leading providers of corporate, trust, and fund administration services, announced the establishment of its Singapore operations earlier this week. The move signals the firm’s growing commitment to Asia, a region that has seen exponential growth in private wealth over the past decade. This new office, which will offer a full suite of fiduciary and administrative services, is set to cater to the increasing demand for tax-efficient structures, estate planning solutions, and regulatory compliance support among Asia-Pacific’s affluent families and institutional investors.
The decision to expand into Singapore comes as the city continues to solidify its reputation as a global wealth nexus. According to a 2023 report by Knight Frank, Singapore is now home to over 5,000 ultra-high-net-worth individuals (UHNWIs), a figure that is expected to grow significantly in the coming years. Trident Trust, which operates in 24 jurisdictions worldwide, views Singapore as a strategic gateway for clients seeking access to Asia’s dynamic financial markets and robust legal framework.
“Singapore offers a unique combination of political stability, a sophisticated financial ecosystem, and forward-thinking regulatory policies,” Pease elaborated. “It’s not just about serving clients in the Asia-Pacific region; it’s also about helping clients from Europe, the Middle East, and North America who are increasingly looking eastward for opportunities.”
The firm’s Singapore office will also cater to the burgeoning family office sector. With the Monetary Authority of Singapore (MAS) rolling out incentives such as the Variable Capital Company (VCC) framework and tax exemptions under the Global Investor Programme (GIP), the city has become a magnet for family offices seeking to consolidate and grow their wealth. Trident Trust’s expertise in establishing and managing bespoke family office structures is expected to resonate strongly in this market.
For clients, the immediate impact is clear: localized expertise combined with Trident Trust’s global reach. This dual advantage is particularly appealing for families and institutions navigating the complexities of cross-border wealth management. By providing tailored solutions that align with both regional regulations and international standards, the firm is well-positioned to capture a significant share of the market.
As Singapore continues to attract a new wave of global investors, the city’s role as a wealth management hub is set to grow. Trident Trust’s expansion reflects not only the firm’s strategic foresight but also its unwavering commitment to serving the needs of its discerning clientele.
(Editors: admin)