JP Morgan launches trust company in Singapore for Asia's ultra-rich families

JP Morgan is launching a trust company in Singapore to support the private bank’s clients and their families in administering their wealth and planning for succession, it announced on Thursday.Even as wealth in Asia is still relatively new compared to regions like Europe and the US, families in the region have increasingly complex needs as they invest globally, with family members residing in multiple jurisdictions.

The trust company will continue to build its team and operations in Asia and the Middle East, said JP Morgan Private Bank. Alos on Thursday, JP Morgan Private Bank unveiled findings from its white paper on the impact of technological disruption on succession planning. In addition, three quarters of next-generation leaders believe technology will support their family’s wealth succession. Investing in new technologies and professionalising management are their top priorities, with the aim of simplifying processes by streamlining documentation, monitoring assets and optimising decision-making through AI.

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Asia markets sink as US-China standoff worsens; Singapore stocks down 0.4% at openTOKYO (REUTERS) - Asian stocks fell the most in a week on Wednesday (Oct 9) as the United States and China's ever-expanding dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.. Read more at straitstimes.com.
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