Swiss private bank Sarasin has launched a
trust company based in Singapore to provide in-house trust, estate
and succession planning advice to clients in Asia, the Middle East
and Europe.
The Sarasin Trust Company has been formed as
part of the bank’s focus on acquiring and managing declared
assets.
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Sarasin Trust is to provide a discretionary
offering, which will include trusteeships for full protection
trusts, holding liquid and non-liquid assets, and insurance trusts,
which will only hold life-insurance policies, the group said.
Sarasin’s global reach
Bank Sarasin’s Asia CEO, said the trust
company extends the Group’s current Singapore-based offerings to
clients from Europe and the Middle East.
In November 2010, Bank Sarasin opened a
representative office in Abu Dhabi through its subsidiary Bank
Sarasin-Alpen, its seventh office in the Middle East and India.
Sarasin-Alpen also re-launched advisory
services in Bahrain in August 2010, a year after it cut short a
separate venture in the Gulf state.
The bank highlighted Singapore’s “sound
regulatory regime”, as well as its political and economic stability
as reasons for being one of the bank’s key financial services
centres and a base for the trust business.
Sarasin Trust is to be headed by Michael Low,
Asia head of trust and fiduciary services, and Ethan Chue, Asia
head of trust advisory.
