State Street Expands Trust Services in Singapore

Monday, July 8, 2019 11:47 am EDT


"Since we launched our trustee and transfer agency services in Singapore four years ago, we have established relationships with a number of asset managers"

State Street Corporation (NYSE: STT), one of the world’s leading providers of financial services to institutional investors, today announced that it has been granted a trust business license from the Monetary Authority of Singapore to expand its trustee capabilities in Singapore.

State Street has been providing trustee services to Singapore-authorized, retail-only, collective investment schemes. With this new license, 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.

“Since we launched our trustee and transfer agency services in Singapore four years ago, we have established relationships with a number of asset managers,” said Syed Asim Hasan, head of Global Services for South East Asia at State Street. “To build on the success of the service, we are delighted to now expand our suite of capabilities to meet the evolving needs of asset managers in the country.

“Singapore has a large and rapidly growing wealth management and banking industry and demand for restricted collective investment schemes is expected to continue to increase. 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.”

State Street established its office in Singapore in 1997 and has an integrated servicing model for asset managers. In addition to acting as trustee for collective investment schemes, it also provides a full set of middle- and back-office services such as investment recordkeeping, post-trade management, custody, fund accounting, fund administration and transfer agency.


Kate Cheung
+852 3556 1103


The material presented herein is for informational purposes only. The views expressed herein are subject to change based on market and other conditions and factors. The opinions expressed herein reflect general perspectives and information and are not tailored to specific requirements, circumstances and / or investment philosophies. The information presented herein does not take into account any particular investment objectives, strategies, tax status or investment horizon. It does not constitute investment research or investment, legal, or tax advice and it should not be relied on as such. It should not be considered an offer or solicitation to buy or sell any product, service, investment, security or financial instrument or to pursue any trading or investment strategy. It does not constitute any binding contractual arrangement or commitment of any kind. State Street is not, by virtue of providing the material presented herein or otherwise, undertaking to manage money or act as your fiduciary. You acknowledge and agree that the material presented herein is not intended to and does not, and shall not, serve as the primary basis for any investment decisions. You should evaluate and assess this material independently in light of those circumstances. We encourage you to consult your tax or financial advisor. All material, including information from or attributed to State Street, has been obtained from sources believed to be reliable, but its accuracy is not guaranteed and State Street does not assume any responsibility for its accuracy, efficacy or use. Any information provided herein and obtained by State Street from third parties has not been reviewed for accuracy. In addition, forecasts, projections, or other forward-looking statements or information, whether by State Street or third parties, are not guarantees of future results or future performance, are inherently uncertain, are based on assumptions that, at the time, are difficult to predict, and involve a number of risks and uncertainties. Actual outcomes and results may differ materially from what is expressed herein. The information presented herein may or may not produce results beneficial to you. State Street does not undertake and is under no obligation to update or keep current the information or opinions contained in this communication. To the fullest extent permitted by law, this information is provided “as-is” at your sole risk and neither State Street nor any of its affiliates or third party providers makes any guarantee, representation, or warranty of any kind regarding such information, including, without limitation, any representation that any investment, security or other property is suitable for you or for others or that any materials presented herein will achieve the results intended. State Street and its affiliates and third party providers disclaim any warranty and all liability, whether arising in contract, tort or otherwise, for any losses, liabilities, damages, expenses or costs, either direct, indirect, consequential, special or punitive, arising from or in connection with your access to and / or use of the information herein. Neither State Street nor any of its affiliates or third party providers shall have any liability, monetary or otherwise, to you or any other person or entity in the event the information presented herein produces incorrect, invalid or detrimental results. No permission is granted to reprint, sell, copy, distribute, or modify any material herein, in any form or by any means without the prior written consent of State Street. State Street Asia Limited © 2019 State Street Corporation - All Rights Reserved 2626783.1.1.APAC.RTL Expiration date: 07/31/2020

Media Contacts

Contact a member of the State Street Media Relations Team.

Social Media

Business Wire NewsHQ℠