The new office will cater for Nordic outbound business opportunities.

Hong Kong-headquartered Vistra, a global provider of trust, fiduciary, private office and fund administration services, has opened a new office in Stockholm, Sweden.

The office will cater for Nordic outbound business opportunities and is led by Maria Mwegerano, who will be taking on the role of commercial director, Nordic Region, the firm said in a statement.

Mwegerano was previously head of business development in Vistra's London office.

The opening of Vistra Sweden marks a milestone for the firm as it takes its first step into the Nordic region. 

"The decision to expand our presence into the Nordic region with the launch of Vistra Sweden was a logical step in our business growth strategy as we continue to cultivate our global footprint,” said Martin Crawford, chief executive of Vistra. “The area is rich with opportunities and will enable us to not only provide enhanced services and reach to our existing clients, but also tap into the local market with our new presence. We hope to develop relationships with Nordic corporations with overseas subsidiaries and start-ups looking to expand outside the region, as well as alternative investment managers, all of whom will benefit from Vistra's expertise particularly within our international expansion and alternative investment divisions."

The firm said that the Nordic region is home to around 200 asset managers and Stockholm is ranked as the second-best ecosystem for start-ups in the world.

Business in the region has been growing over the last 12 months, and this publication has reported on news within the region. In April, Nordea Bank had joined forces with several other Nordic firms to combat cyber-crime, and in November, Schroders had named Henrik Jonsson as head of Nordic region.

This publication has contacted Vistra to ask about the details of the new office, for example the number of employees and the amount of clients it will have, and will update in due course.

Vistra employs more than 3,300 people in 74 offices across 44 jurisdictions.