Jersey's Bedell Trust Acquires Singapore Trust Company
by Jason Gorringe, Lowtax.net, London
09 September, 2015
Bedell Trust has expanded its international presence through the acquisition of a majority stake in Singapore Trust Company Pte Ltd (STC), a well-established fiduciary and corporate services business in Singapore.
Bedell Trust, which is headquartered in Jersey, has offices in London, Guernsey, Dublin, and Mauritius and is one of Jersey's longest established, fully independent fiduciary and corporate services businesses. It offers private wealth management, family office, international corporate and finance, fund administration services, and employee benefits structures.
STC, which was incorporated in 1996, was the first trust company in Singapore to be licensed under the Trust Companies Act in 2006.
Michael Richardson, Executive Chairman of Bedell Trust, said: "Our investment in STC is a natural development of Bedell Trust's international strategy, which is to align the firm with likeminded business partners in key markets worldwide which should enable us to build on existing client and intermediary relationships in Asia and to meet the demands of our international clients who increasingly require services within the Asian time zone. We feel confident that STC and its management and staff share our own core values and commitment to deliver the premium client service which is a hallmark of Bedell Trust."
Rudy Tan, Managing Director of STC, said: "Joining Bedell Trust is an exciting move for us. It immediately broadens the range of our fiduciary services across key international locations. Having worked with Bedell Trust for a number of years, I have every confidence the expertise which they will bring to our business will be in the interest of our clients."
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