Linedata, a French firm that provides technology solutions for the asset management and credit industries, has set up a new office in Singapore.

The move is part of the company’s plan to enhance its footprint the Asia-Pacific (APAC) region, which has been witnessing significant demand for Linedata services since 2005.

It also enables the company to cater to Singapore-focused variable capital company (VCC) as well as tap new markets, among others.

The Singapore office further complements Linedata’s ongoing development strategy.

Linedata, which already has presence in Hong Kong and India, intends to hire fresh talents for the new office to better serve its current and future clients in Singapore.

Opening of the Singapore office follows the establishment of the firm’s new office in Mexico.

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Linedata Asia managing director Sally Crane said: “We are looking back at 15 years of strong customer relations in the APAC region. In Singapore, we have supported many large clients in their long-term development.

“In recent years we have seen an increase of interest in our solutions and our new Singaporean office will give us the ability to do even more locally and offer innovative solutions specifically designed for this unique market and its needs.”

In addition, Linedata announced that Singapore- based wealth management company Eightstone has chosen the company’s technology.

Eightstone COO Chiara Bartoletti said: “After months of analysis and market research, we chose Linedata due to their innovative technology and history of servicing clients in Asia.

“It will be key in adding efficiency and scalability to our investment management process.

“We look forward to leveraging Linedata’s technology to help us grow our clients’ wealth responsibly.”