Richmond Fiduciary open in Shanghai

Guernsey-headquartered trust company Richmond Fiduciary Group has opened a representative office in Shanghai. The office will be led by Jing Zhang, a Shanghai born and educated professional who is fluent in Mandarin, English and Italian.   The company, which was established in 1988, now employs more than 30 staff worldwide, including Hao Wang, Senior Partner of RayYin & Partners, who is retained by Richmond as a consultant to explain the nuances of international trust laws to Chinese individuals and professionals. The move reflects a growing trend amongst Channel Islands fiduciary business to look towards Asia for growth rather than relying primarily on the more mature European markets where there is an increasing emphasis on clamping down on legitimate opportunities for tax avoidance.