Singapore: Vistra Acquires BSI Trust Singapore From BSI Bank AG
Last Updated: 5 March 2013

BSI Trust Corporation (Singapore) Limited., owned by BSI Bank AG has been acquired by Vistra, a global independent player in the trust and fiduciary sector, the two companies announced today. 

The acquisition, approved by the Monetary Authority of Singapore (MAS) will see all BSI Trust Singapore's services and existing business transferred to Vistra by the end of January 2013.

The decision to sell the company is a reflection of the rapid growth of BSI Bank's wealth management portfolio over the past two years and the need to focus on these core advisory services.

This strategic decision will provide a strong platform of specialist solutions for BSI clients transferring their trust needs to Vistra. Private banking clients' international trust requirements are evolving and increasingly require more sophisticated trust solutions for asset protection and estate planning.  Vistra is equipped to provide clients with a broad range of trust and fiduciary services through its network of 27 offices across 20 jurisdictions. Vistra will be one of the preferred service providers on BSI's open architecture platform.

Vistra Singapore Managing Director, Jean-Pierre Koolmees said, "We are very proud of the reputation and the international capability we have established in the trust sector. Our aim is to provide the highest standard of service to the clients of BSI Trust Singapore who have now entrusted us with their business."

"The highly-experienced team joining us from BSI Trust Singapore will ensure continuity for their existing clients, as well as augment Vistra's overall offering to clients," Mr. Koolmees added.

For more information, please contact Jean-Pierre Koolmees on tel: +65 6854 8021.

About Vistra Group

Vistra is a leading independent provider of trust, fiduciary, corporate and fund services delivering personal and tailored solutions to international corporations, institutional investors and high net worth individuals from around the world. Our clients can benefit from a multi-jurisdictional and personal approach, delivered by a team of professionals with an in-depth understanding of the often complex needs of every client. Our services include company formation and management, fund formation and administration, trustee services, family office, marine and aviation and accounting services. Today Vistra employs around 350 employees in 27 offices covering 20 jurisdictions, with each of our offices providing the full range of fund, trust, corporate and estate planning solutions. Vistra is a unique player in the trust and fiduciary industry, boasting the most balanced geographic reach globally while always guaranteeing the personal and tailored service that our clients deserve.

Together, we bring to life the Vistra ethos of "Crossing Borders, Creating Solutions". Vistra is part of the OV Group, which includes Offshore Incorporations Limited Group (OIL), Asia's leading company formation specialist and Vistra. The OV Group employs circa 500 professionals and is the 3rd biggest provider worldwide of trust and corporate services.

About BSI

Established in Lugano (Switzerland) in 1873, BSI AG is one of the oldest banks in Switzerland and specialises in private wealth management. Since 1998, the Bank has been wholly owned by the Generali Group, one of the most significant participants in the global insurance and financial products market. The bank places great emphasis on establishing and maintaining ongoing personal relationships with clients, while at the same time offering global asset management services with world-class products. It is present in the major financial markets worldwide, in Europe, Latin America, the Middle East and Asia.

For more information, please contact Jean-Pierre Koolmees on tel: +65 6854 8021.

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