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SINGAPORE --(BUSINESS WIRE)--01.07.2020--
ZEDRA confirms, following receipt of regulatory approval from the Monetary
Authority of Singapore (MAS), that it has completed its acquisition of BNP
Paribas Singapore Trust Corporation Limited, first announced in January of this
BNP Paribas Singapore Trust Corporation Limited, to be renamed Zedra Trustees
(Singapore) Limited serves the growing Asian ultra-high net worth and high net
worth markets, with clients typically being families and entrepreneurs.
Commenting on the acquisition, Ivo Hemelraad, CEO of ZEDRA said: 'Singapore is
a core jurisdiction for ZEDRA given the country's reputation for its high
quality financial services sector, prudent supervision and resilient
infrastructure. This latest deal will bring additional scale and expertise to
our already fast growing Singapore office.'
Wendy Sim, Managing Director ZEDRA Singapore explains: 'In spite of the
disruption caused by the COVID-19 pandemic, we are seeing an increase in
enquires, in particular around succession planning. The situation has acted as
a catalyst, prompting clients to review how their estates will be managed and
assets passed on. Clients want to be reassured that existing structures are fit
BNP Paribas Wealth Management will work with ZEDRA as a preferred partner for
trust services while continuing to render its clients wealth management
services, leveraging the firm's best-in-class private banking team and global
Arnaud Tellier, CEO of BNP Paribas Wealth Management Asia, said: 'We are
committed to providing our clients with best-in-class opportunities; with an
open architecture platform we continue to present solutions tailor made to each
client and these include wealth planning strategies. We recognise that the
wealth ambitions of our clients are as unique as their individualities and we
continue to build on the future of our platform focusing on aligning investment
objectives with solutions to Sustainability and ESG values'.
Wendy Sim ends, 'Our strengthened trust proposition will be an important asset
going forward, as we continue to grow both our local Asian business, but also
support European clients who may seek a Singaporean aspect to their trusts and
The deal will add to ZEDRA's existing headcount of over 500* industry experts
across 14 countries, spanning Asia, Oceania, the Americas and Europe. The
acquisition will bring ZEDRA's combined staff numbers in Singapore to 35, all
located in a brand new, centrally located ZEDRA office.
About ZEDRA and BNP Paribas Wealth Management
Please visit https://www.zedra.com/boilerplate/
View source version on businesswire.com: https://www.businesswire.com/news/home
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