Alpadis Group announces today the expansion of its Singapore operations, and relocation into expanded offices, through the acquisition of TAO Trust Group’s (Tao Trust Group) business.
SINGAPORE, 4 July 2017 – Alpadis Group, the provider of multi-jurisdictional corporate and bespoke fiduciary services, announces today the expansion of its Singapore operations, and relocation into expanded offices, through the acquisition of TAO Trust Group’s (Tao Trust Group) business. The Swiss-based group’s Singapore expansion, completed on July 1, 2017, significantly increases the size of the company, after a period of sustained growth both in Singapore, and the wider Asia region, and will allow Alpadis Group to be able to extend its range of services to more companies and individuals. Alpadis Group in Singapore has incorporated TAO Trust Group employees, increasing its headcount by 12 individuals, and will be led by current Group’s CEO, Alain Esseiva.
“This expansion will allow us to significantly increase the number of experts that Alpadis Group can employ here in Singapore, which in turn will enable us to continue providing a high level of service to existing clients, and grow our portfolio to include new ones” said Esseiva, adding “we have seen sustained growth in demand for our services that allow companies to navigate the increasingly complex and regulated markets in Asia and globally, while benefitting from jurisdictions such as Singapore, that offer stability. Furthermore, our fiduciary services have grown exponentially, as wealthy investors are beginning to realise the importance of planning for retirement, leaving a family legacy and inheritance; and are demanding the right expertise to do that.”
Since its entry into the Singapore market in 2009, Alpadis Group has experienced sustained growth, servicing clients that include High Net Worth Individuals (HNWI) to companies (mostly SMEs) looking to expand within Singapore and abroad. The group is able to leverage its Asia presence, thanks to offices in Malaysia and Hong Kong, as well as a highly-experienced team who are able to provide services that range from wealth planning and asset structuring to company incorporation and financial reporting in any jurisdiction.
Tao Trust Group is a leading provider of fiduciary and corporate services, and has been operational since 2008. Alpadis Group has taken over Tao Trust Group’s experts and administrators, as well as their office space in Singapore.
Lucille Tay, COO of TAO Trust Group, who has been working on the transition with Alpadis Group Singapore, adds “TAO Trust Group and Alpadis Group Singapore have significant synergies, and this has allowed a smooth business acquisition to happen resulting in continued servicing of both our clients, only with the added benefits of increased size and enhanced quality of services. These are exciting times for the team at TAO Trust Group, and we look forward to working with our new colleagues, with whom we are already familiar with”.
Despite global risks and uncertainty, the Asia region is still expected to grow at 6% compared to 1.7% in the EU and 1.6% in Latin America[1], and continues to attract investment from companies looking to expand and tap into the region’s growing middle class. These companies, though, need on-the-ground guidance from experts who understand the complex and sometimes opaque taxes, rules and regulations that dot Asia, and it is this expertise that Alpadis Group is able to provide.
Furthermore, it is now quicker than ever before to become wealthy in Asia, and in the past decade alone there has been a 121% jump in the number of Asian Ultra-High Net Worth Individuals (UHNWIs)[2], according to studies. As a result, wealthy investors and individuals are looking for guidance on how to properly structure their wealth, and make intelligent plans for retirement, inheritance and other family planning matters, areas that Alpadis Group excel in.
Alpadis Group’s expansion in Singapore will allow the company to lower costs, leverage the deep well of talent that exists in Singapore, bring on more clients, and take advantage of the continued growth that Singapore and Asia are set to bring.
[1] World Economic Outlook, IMF, 2016, as detailed in DEMYSTIFYING ASIA PACIFIC TRADE TRENDS: A DHL Perspective on Implications for Supply Chains. URL: http://www.dhl.com/content/dam/downloads/g0/about_us/logistics_insights/dhl_apac_trendreport.pdf
[2] The Wealth Report by Knight Frank, as reported in AsiaOne, Asia to continue minting ultra-rich at fastest pace over next 10 years: Knight Frank. URL: http://news.asiaone.com/news/business/asia-continue-minting-ultra-rich-fastest-pace-over-next-10-years-knight-frank#sthash.Dk9myIT1.dpuf