M and A
Commerzbank Offloads Singapore Business To Trident Trust
Commerzbank has agreed to sell its Singapore subsidiary to
Trident Trust Group.
Commerzbank International Trust Singapore specialises in fund
management and trust services for private and corporate clients.
Details of the sale were not disclosed, although the
company said it will not affect its other businesses in
Singapore.
"The acquisition will help expand our Group's presence in
Singapore and add to the range of services that we are able to
offer our clients worldwide," said Markus Grossmann, the managing
director of Trident Trust's Singapore operations, in a
statement.
Trident Trust has 27 offices in 21 jurisdictions.
The deal is subject to regulatory approval.
