State Street has been granted a trust business licence from the Monetary Authority of Singapore to expand its trustee capabilities in Singapore.
With the new licence, State Street is now able to act as a trustee for collective investment schemes offered to institutional investors and restricted schemes offered to accredited investors.
Syed Asim Hasan, head of global services for South East Asia at State Street, said: “We are delighted to now expand our suite of capabilities to meet the evolving needs of asset managers in the country.
He added: “With a full trustee servicing capabilities and our comprehensive front-, middle- and back-office services, we are excited to support asset managers’ growth in the retail, high-net-worth and institutional segments in Singapore.”
