JPMorgan targets Asia's growing wealth with Singapore trust company

SINGAPORE: JPMorgan has set up a trust company in Singapore, its first in Asia, to cater for a growing cadre of ultra-wealthy individuals in the region.

"We will be in a better position to support clients who have complex wealth planning needs and serve a wider range of clients in one of the fastest, wealth-generating hubs in the world," said Kwang.Demand for trust companies is on the rise in Singapore, one of the world's leading financial and legal centers, as newly wealthy families in Asia seek legal structures to park their assets and begin succession planning.

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