Asset-servicing firm RBC Dexia says RBC's acquisition of the remaining half of the business will hasten regional expansion and lead to greater cross-selling opportunities.
The firm transfers Diana Senanayake from Luxembourg to Singapore to drive business growth. It is now focusing on a market entry strategy for China, Taiwan and Korea.
Custodians and fund-admin providers are ready to tap potential opportunities in the renminbi funds market, but worry that RMB bonds are thin on the ground.
Mike Coleman of the Alternative Investment Management Association says a growing number of credit and macro hedge funds are setting up in Asia.
Ucits fund structures are now the preferred option for Asia-Pacific investors, says RBC Dexia.
Schroders Singapore chooses HSBC Securities Services as its sole trustee, custodian and fund administrator, having previously split those services between HSBC and OCBC Trustee.
Manulife Singapore selects RBC Dexia for a S$1.5 billion fund valuation mandate.
RBC Dexia will provide administrative and nominee services to several of ING Investment Management Asia-Pacific's offshore funds.
The new office in Malaysia forms one of five RBC Dexia operational hubs worldwide.
Conlon Chen takes the title of deputy managing director in Hong Kong.