ZEDRA confirms completion of the acquisition of BNP Paribas Singapore Trust Corporation Limited

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 for purpose.”

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 reach.

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 structuring solutions.”

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

ZEDRA is an independent global specialist in Corporate, Fund and ‘Active-Wealth’ services. Our highly experienced teams deliver tailored high quality solutions to our clients who include high net worth individuals and their families seeking diversified active-wealth solutions, as well as, medium to large sized companies, asset managers and their investors.

Our full range of services is designed to preserve and protect the real value of our clients’ assets and our entrepreneurial outlook helps and supports our clients in unlocking their ambitions for growth and expansion, no matter how complex their challenges might be.

We pride ourselves on getting to know our clients so that we can anticipate their continually evolving needs and allow them to focus on their core business and broader family interests. ZEDRA’s global footprint enables us to deliver bespoke solutions that meet the local and international requirements of the increasingly demanding regulatory environment.

ZEDRA inherited a wealth of knowledge and experience following its acquisition of trust businesses of a renowned bank in 2016. This solid foundation combined with innovative thinking has allowed ZEDRA to grow rapidly in a competitive marketplace to a team of 500* industry experts across 14 countries spanning Asia, Oceania the Americas and Europe.

* including announced acquisitions pending completion

www.zedra.com
ZEDRA
Guy Stephenson
Nacelle
Tel: +44 20 8333 9125

About BNP Paribas Wealth Management

BNP Paribas Wealth Management is a leading global private bank and the largest private bank
in the Eurozone. Present in three hubs in Europe, Asia and the United States, it employs over
7,000 professionals who support private investors in protecting, growing and passing on their
assets, bringing long-term value to themselves, their families and society. The bank has €393
billion worth of assets under management as at 31 December 2019 and was recently named
“Best Private Bank in the World” in Europe, in Hong-Kong and in US West.

About BNP Paribas in Asia Pacific (apac.bnpparibas.com)

In Asia Pacific, BNP Paribas is one of the best-positioned international financial institutions with an uninterrupted presence since 1860. Currently with over 18,000 employees* and a presence in 13 markets, BNP Paribas provides corporates, institutional and private investors with product and service solutions tailored to their specific needs. It offers a wide range of financial services covering corporate & institutional banking, wealth management, asset management, insurance, as well as retail banking and consumer financing through strategic partnerships.

Worldwide, BNP Paribas has a presence in 71 markets with more than 196,000 employees. It has key positions in its three main activities: Domestic Markets and International Financial Services (whose retail-banking networks and financial services are covered by Retail Banking & Services) and Corporate & Institutional Banking, which serves two client franchises: corporate clients and institutional investors. Asia Pacific is a key strategic region for BNP Paribas and it continues to develop its franchise in the region.

* excluding partnerships

BNP Paribas
Contact (Asia)
Ayesha de Kretser
Tel: +852 2108 5458

Contact (Europe)
Servane Costrel de Corainville
Tel : +33 (0)1 42 98 15 91