• JPMorgan opts for Singapore for first Asian trust operation

    JPMorgan Chase & Co, the US banking giant, has chosen Singapore as the site for its specialist trust operation in Asia. This new office will focus on serving the ultra-rich through the wider region and comes in the wake of soaring demand for the services of family offices / private investment vehicles in both Hong Kong and Singapore. According to Kam Shing Kwang, JPMorgan’s CEO for its private banking operations in Asia, most of its clients in the region are considering moving their trusts from the Bahamas to Asia, while many of the bank’s…

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