January 9, 2020 / 6:17 AM / 16 days ago

Fund services group Zedra to buy BNP Paribas Singapore Trust Corporation Ltd

PARIS, Jan 9 (Reuters) - Zedra Group, which offers fund services and wealth management, said on Thursday that it would buy BNP Paribas Singapore Trust Corporation Limited for an undisclosed amount.

BNP Paribas Wealth Management’s trust business in Singapore serves the growing Asian ultra-high net worth and high net worth markets, and Zedra said it would fit in well with its business.

“This latest deal will bring additional scale and expertise to our already fast growing Singapore office,” said Zedra CEO Ivo Hemelraad in a statement.

Reporting by Sudip Kar-Gupta; Editing by Kim Coghill

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