Hawksford, the Jersey-based trust, private client and corporate and fund services provider, has been granted a trust licence by Monetary Authority of Singapore, and will now be able to offer its clients trusts in that jurisdiction.
In a statement today, Hawksford – which already employs more than 70 people across Asia – said the new licence would enable it to provide trust services to private and corporate clients, and thus to grow its trust and fiduciary offering in the region.
Group chief executive Michel van Leeuwe said the licence represented “a significant development for Hawksford and our global client base” and was “an integral part of our growth strategy”.
In a related development, Michael Powell is to join the board of Hawksford’s Singapore trust business. Powell is a Hawksford founding director and qualified trust practitioner.
Hawksford was established in 2008 following the management buyout of Rathbone Trust Co Jersey, which was backed by Dunedin, the UK private equity company. The Hawksford name dates back to the 19th century, when a lawyer named Cyril Hawksford first began practising in Jersey.
As reported, it recently opened an office in the Cayman Islands, after it received a Trust Licence from the Cayman Islands Regulatory Authority there. In addition to Jersey, Cayman and Singapore, Hawksford also has offices in the British Virgin Islands, Hong Kong, New Zealand and the United Arab Emirates, and employs a total of around 220 people.