The Equiom Group, an Isle of Man-based, internationally-focused trusts and corporate services provider, has named Richard Sayers managing director of its Singapore operation, as Angelo Venardos moves from that role to become chairman.
The company said the appointment came as Equiom “continues to expand its offering in Singapore”.
Sayers comes to Equiom Fiduciary Services Pte Ltd from the Enhance Group, which he co-founded in 2005. Based in Jersey, Enhance is a Jersey-based wealth consultancy and corporate services provider which, like the Equiom Group, operates out of a number of financial services jurisdictions including Singapore.
There, according to Equiom, Sayers had been instrumental in building the business’s reputation as a provider of investment oversight services to the trust, fiduciary and private client sector. In 2015 Sayers relocated to Singapore to expand the business in Asia.
In Singapore, Sayers will be responsible for the overall performance of Equiom’s business in the city-state, and for ensuring all of its activities are “in line with group strategy”, Equiom said.
Equiom chief executive Sheila Dean said Sayers’s joining Equiom’s team represented a “real triumph for Equiom, as it marks a true growth period for Singapore”.
Equiom is one of a number of cross-border corporate services providers that has been growing rapidly over the last five years, often but not exclusively by acquiring rivals and companies in the same sector but in different markets. Among the markets in which it has a presence, either itself or via partnership arrangements, besides the Isle of Man and Singapore, are the British Virgin Islands, Hong Kong, Japan, Guernsey, Jersey, Malta, Scotland, Qatar and the United Arab Emirates.
It wasn’t immediately known who will succeed Sayers at the Enhance Group. James Painter, the chief executive and Sayers’s original partner in the business, wasn’t available for comment.