Cayman Islands-based Maples Fund Services (MaplesFS) has strengthened its presence in the Asia Pacific region with the launch of full-service office in Singapore.
MaplesFS, through its operating divisions, Maples Fund Services and Maples Fiduciary, provides fiduciary, accounting and administration services.
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Maples Fund Services (Singapore) will focus on providing middle office, data aggregation and reporting, and fund administration services to Singapore domiciled funds established by family offices, private wealth managers and institutional investors.
In addition, Maples Fund Services (Singapore) team will service Cayman Islands funds that require on the ground support from Singapore. Eastern Fong, regional head of fund services – Asia, will head the Singapore team.
Maples Fiduciary (Singapore) will be managed by global co-head of fiduciary, Hugh Thompson, who has 14 years of experience at the Maples group acting as a director on investment funds and structured finance vehicles.
Thompson will be responsible for the development of Maples Fiduciary, which will include company formation, registered office, company secretarial, client accounting, voluntary liquidations, and directorship services for Singapore domiciled entities.
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By GlobalDataIn addition, the team in Singapore will provide director services for Cayman, Hong Kong and British Virgin Islands domiciled entities where an Asian time zone presence is needed.
Scott Somerville, CEO of MaplesFS, said: "We are excited about the opportunity that Singapore creates as a jurisdiction, particularly as it relates to business arising from family offices, institutional investors, hedge funds and private equity. Our presence in Singapore will significantly boost our brand as a regional offering with close ties to our existing office in Hong Kong."
