We are delighted to announce that Kensington Trust Group (KTG) was recently granted a licence by the Monetary Authority of Singapore to conduct trust business in the jurisdiction.
While we already had a strong presence in Singapore prior to issuance of our new trust licence, this latest development means we can now offer clients specialised jurisdiction-specific fiduciary solutions.
Linda Wong, Managing Director of KTG Singapore, one of KTG’s co-founders and current Chairperson of STEP Singapore, commented “This is a crucial and exciting step forward for JTC Kensington and we are all extremely pleased. Singapore is justifiably perceived as the leading trust jurisdiction in Asia and one of the most popular and credible international financial centres in the world. We already have an outstanding team of culturally aligned, client-driven professionals based in Singapore and, given JTC Kensington’s continued dedication to expansion in Asia, we are confident that obtaining this licence will prove to be a pivotal moment in our longer term growth.”
Iain Johns, Head of Private Client Services for JTC, went on to add “JTC and Kensington are well-matched partners, thanks to their fundamental focus on finding the ideal services and solutions for clients. This new capability to offer Singapore-specific trust services is another significant step forward in that regard and I’m confident that many of our clients will directly see the benefits for themselves.”
JTC established a strategic association with KTG in 2013, giving it a broad platform for providing corporate, trust and cross-border structuring services to clients across the Asia region through its well-established teams of professionals in Singapore, Hong Kong, Labuan, Malaysia and New Zealand.
Singapore is ranked as the third international finance centre globally and the top in Asia, according to the latest Global Financial Centres Index.