Lombard International, a provider of wealth structuring solutions for high net worth investors, has secured a licence from the Monetary Authority of Singapore (MAS) to create a brokerage subsidiary in the country.

The launch of Lombard International Singapore follows the launch of the company’s brokerage office in Hong Kong earlier in 2016.

The Hong Kong and Singapore units will both cater to local market needs and serve as gateway for the company’s future expansion in Asia, the company said in a statement.

Lombard International Asia CEO Tammy Lu Tsui said: “This is a very exciting time for Lombard International as we launch our brokerage operations in Singapore.

“We’re delighted to bring our unique brand of exceptional service to the high net worth market in Singapore and throughout this strategically important region for the group.”

Philadelphia- and Luxembourg-based Lombard International is owned by funds managed by Blackstone. The company has global assets under administration of more than $80bn, and employs over 500.