One of the members of the senior management team at International Administration Group (IAG)has left Guernsey to spearhead the company's Asian expansion.
Raymond Page (pictured left), an IAG Director and one of the senior management team of three at the Guernsey fund administration business, has left the Island to base himself in Singapore as Managing Director of Tricor IAG Fund Administration (Singapore).
Tricor, a member of the Bank of East Asia Group and a global provider of business, corporate and investor services which has wide global connections, is IAG's joint venture partner in the region. IAG first moved into Asia following the global financial crisis in 2008.
IAG Chief Executive Alison Simpson said: "We recognised that Asia was going to be booming, it was a big market, and it was sensible to get into that," she told the Guernsey Press.
"We're a Guernsey-focused business but we don't want all our eggs in one Guernsey basket."
The company established in Hong Kong in 2010 and in Singapore in 2012, before launching its joint venture with Tricor, initially in Hong Kong, in October 2013, followed by Singapore the following January. IAG has pursued similar joint ventures in Luxembourg, Cayman Islands and London.
Mr Page remains a director of IAG in Guernsey and London. Ms Simpson said that his move to Singapore was a reflection on business flows.
"These are exciting times for IAG's Far Eastern operations where we are seeing significant growth. Raymond's appointment shows our commitment to the region and we wish him well in his new role," she said.
"We're seeing a lot of interest in Asia and feel that there will be quite a large amount of growth there and we need to tap into that."
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
