Vistra, the international fiduciary services group, has announced its acquisition of BSI Trust Corporation (Singapore) Limited from BSI Bank AG.
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. BSI AG is one of the oldest Swiss Banks in existence and has since 1998 been owned by the Generali Group.
Vistra now provides its fiduciary services through a team of 350 employees in 25 offices across 19 jurisdictions. 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 claims to be the 3rd largest provider worldwide of trust and corporate services.
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