GLAS News

March 4, 2024

GLAS strengthens Asian presence through partnership with Watiga, the corporate, trust & funds service provider

Singapore (04 March 2024)

Global Loan Agency Services (“GLAS“) is delighted to announce it has reached an agreement for Watiga Trust and Watiga Asia (collectively, “Watiga“) to join the GLAS network.

The transaction, subject to approval by the Monetary Authority of Singapore (“MAS”), will significantly enhance the capabilities of GLAS in the APAC region.

Watiga’s particular expertise in alternative assets and cross-border investments in Southeast Asia will be a valuable addition alongside GLAS’s market-leading offering in loan agency, capital markets and restructuring.

Watiga

Watiga Trust is a Licensed Trust Company, regulated by MAS and Approved Trustee for Collective Investment Schemes. Offering a range of tailored trust, fiduciary and custodian services, Watiga Trust is a member of the Singapore Institute of Banking and Finance, the Singapore Trustees Association, the Singapore Venture and Private Capital Association and the Asia Pacific Loan Market Association. Watiga Asia offers a full suite of fund, loan and company administration services and is a member of the Singapore Fund Administrators Association.

GLAS

GLAS has served the Asian market for several years, including roles in recent high-profile debt restructurings in China such as Evergrande and Sunac. Watiga’s platform will allow GLAS to offer a broader suite of services, including those regulated by MAS, through an established team in Singapore. Additional investments will be made to expand the team’s local capabilities and ensure consistent client delivery globally, with GLAS’s existing APAC offices in Sydney, Melbourne and Brisbane providing additional operational support to Watiga.

GLAS Founders, Mia Drennan and Brian Carne, said:

“We are delighted to partner with Watiga as a highly respected, long-established business serving the Asian market. The shared ethos, client commitment and premium service delivery has been evident through our discussions, and the complementarity of service offerings will immediately add value for our combined client base.”

Watiga Founder and Managing Director, Matt Richards, commented:

“Watiga and GLAS operate with common values of excellence in client service and have deep industry expertise in their respective areas. The merger will allow us to best serve our combined client base and give our team opportunities for further professional growth. The transaction is a natural step for the business Kuan Lim and I founded in 2012 and ensure continuity for our clients. I look forward to continuing to lead the business with additional support and investment from GLAS.”

GLAS in the news

Yahoo Finance – GLAS Strengthens Asian Presence Through Partnership With Watiga, the Corporate, Trust & Funds Services Provider

AFP – GLAS Strengthens Asian Presence Through Partnership With Watiga, the Corporate, Trust & Funds Services Provider

BNNBreaking – GLAS Acquires Watiga to Expand APAC Presence, Enhancing Cross-Border Investment Capabilities

FinanzNachrichten.de – Global Loan Agency Services Limited: GLAS Strengthens Asian Presence Through Partnership With Watiga, the Corporate, Trust & Funds Services Provider

Business Wire – GLAS Strengthens Asian Presence Through Partnership With Watiga, the Corporate, Trust & Funds Services Provider

About GLAS

GLAS was established in 2011 and is the premier independent, non-creditor, conflict-free provider of loan administration and indenture trustee services.

GLAS, which services more than 360bn of assets under administration, is headquartered in London and has operations in the US, France, Germany, Spain and Australia. By integrating with Watiga, GLAS strengthens its position in Asia, with a team of over 30 experienced professionals in Singapore and a strong foundation for further investment and growth.

For more information, please contact media@glas.agency.

Summary
GLAS to acquire French Fiducie and Asset Management Firm, Pristine
Article Name
GLAS to acquire French Fiducie and Asset Management Firm, Pristine
Description
GLAS SAS, (part of the GLAS Group) is excited to announce it has signed an agreement to acquire Pristine. This is GLAS’s first acquisition as it looks to deepen its European footprint and fast-track global expansion. The transaction is subject to regulatory approval and customary closing conditions.
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GLAS
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Client Services