GLAS Updates

August 25, 2016

We’re hiring in Singapore!

We are seeking a senior sales person in Singapore with both a strong network of regional contacts, together with proven expertise and knowledge in both the Loan Agency and Bond Administration space in APAC. Language skills are key and preference will be shown for candidates with either Mandarin and/ or Bahasa Indonesia/ Bahasa Malaysia. Knowledge of both new money debt transactions and/ or debt restructurings is required, as is a willingness to travel dependent on business needs.

We are also seeking a senior transaction manager, with strong legal acumen and an in-depth knowledge of capital markets and/ or corporate finance, syndications and debt restructurings. Individuals either in private practice, or currently in house at one of the Loan Agency or Corporate Trust providers, or at one of the major restructuring firms are of particular interest. Priority will be given to individuals/ lawyers with either English Law, or NY Law qualifications. Language skills are a pre-requisite and preference will be given to individuals with either Mandarin, or Bahasa Indonesia/ Bahasa Malaysia language skills.

If you are interested in understanding more about these exciting opportunities, please contact Paul Wilden, CEO APAC at

August 15, 2016

GLAS growth continues with Singapore office

15th August 2016
Industry expert Paul Wilden will lead expansion in Asia Pacific

GLAS, the independent provider of finance administration services, has launched in Asia, with Paul Wilden appointed to spearhead the Singapore-based operations. This move has been driven by the increased demand for alternative loan and paying agency, and escrow service providers as banks reduce their involvement in the market.

GLAS offers a wide range of administration services to lenders, borrowers, issuers and advisers across the loan and debt markets, specialising in complex deals including loan and bond restructurings. These services have been used by Atlas Iron, Consolidated Minerals and 3i Infotech limited since GLAS was established in Europe in 2011.

Paul Wilden commented: “The lack of independent agency services in Asia Pacific is impacting viable deals. Regulation and compliance hurdles are reducing the appetite of banks to operate in this area and as a consequence, firms are turning to nimble, independent agencies like GLAS. It has a uniquely commercial and proactive approach, offers a broad skill set from lawyers to operations, and its ability to get deals done sets it apart as the provider of choice. I’m very excited to help grow this side of the business in Asia Pacific, especially across Singapore, Hong Kong, and Indonesia.”

Paul has worked in Asia for 11 years. He moved with BNY Mellon to Asia from Europe in 2005 to head up the Corporate Trust office in the region. In 2011, Paul joined Standard Chartered Bank (SCB) as Head of its Corporate Agency and Trust business. He was responsible for both the incorporation and set up of three Trustee subsidiaries in Hong Kong, Malaysia and Singapore, together with the consolidation and creation of the Corporate Agency & Trust business. During his time at SCB, he was appointed to the Board of Directors of the three SCB Trustee subsidiary companies and also as Chairman of the Philippines Trust Co. Outside of these roles, Paul is also appointed as Vice Chairman of the International Capital Market Services Association.

Mia Drennan, CEO and co-founder, added: “His connections in the region, alongside his expertise at growing businesses, make Paul a perfect fit for Singapore and the clients we wish to serve. We’re at a very exciting period for GLAS. This is our third office opening of the year following the launch of our US and Australian operations and as demand for alternative providers continues, we hope to open more.”

GLAS’ offices will be located at:
UOB Plaza 1
80 Raffles Places
Singapore 048624

Client Services, GLAS Team
August 5, 2016

Post-crash banking regulation is transforming the world of corporate lending – for the better

Mia Drennan, CEO at GLAS
5th August 2016

When discussing the impact of financial regulation – particularly big, sweeping changes that encompass multiple jurisdictions and authorities – we often talk of ‘unintended consequences’, and rightly so. We also tend to assume that any unintended consequences will be negative. But it is quite possible for an unintended consequence to be positive. Happy accidents do happen.

The ongoing impact of post-crash banking regulation on corporate lending is a case in point. Thanks to reforms such as Basel III, banks must now hold a far greater portion of their capital in reserve.Some banks may face even stricter requirements in future; only this month Sir John Vickers called for UK banks to be forced to shore up their financial buffers further in the face of renewed market volatility.

Read the full article here.

Other News
February 9, 2016

We’re hiring new staff!

We are hiring new staff again at GLAS London. We are seeking motivated, client focused individuals to add to our growing teams in both Transaction Management and Client Services.

If you have excellent loan agency experience get in touch, contact

January 29, 2016

Unveiling GLAS and our new brand identity…

From now on, we’ll be known simply as GLAS. Not only have we been battling the snowstorms in New York with our US launch, but we’re also unveiling our new look and name.

Our new brand style has been developed by creative agency Rye Design.

CEO, Mia Drennan explains:

We’ve come a long way since our launch almost five years ago. Our growth in the UK has given us the experience, confidence and platform to expand into new markets such as the US. At the same time, we’re bringing a number of senior players on board – so this really feels like the next stage for GLAS’ development. That’s why we felt it was the perfect time to refresh our brand – while holding on to our heritage and reflecting our dynamic different approach. We feel the result is a better representation of where we are now as a company, and will support us in the next phase of our journey.

Other News
March 1, 2017

US regulation helps GLAS expand trust services offering

US regulation – NEW YORK and LONDON—March 1, 2017

Global Loan Agency Services Ltd., the UK parent of the global GLAS companies, today announced that it has now received its US regulatory approval.

The newly chartered GLAS Trust Company LLC will be regulated by the State of New Hampshire. Regulation as a trust company will allow GLAS to conduct its activities through its headquarters in London as well as internally in the US on such transactions which require the Trustee to be a state-chartered fiduciary under the Trust Indenture Act.

This is another milestone for GLAS and will allow it to further diversify its current product offering to operate in the traditional corporate trust market, which itself has gone through a period of consolidation. GLAS prides itself on being a commercially focused, responsive, willing participant and will look to work alongside its existing client base who operate in the bond space.

Mia Drennan, CEO of GLAS in London, said:

“This is a major achievement for our company; regulatory approval is not easy to obtain, and I am truly proud of what the team has achieved. We continue to see requests from our clients for these services, and I am pleased to say that we will now be able to provide. The formation of GLAS Trust is a pivotal moment for our business in the Americas and will continue to underline our plans to operate on a global platform.”

The firm opened its first US office, GLAS Americas in New York in 2016, charging industry veteran Daniel R. Fisher with expanding its presence in the region for loan agency services.

“We are extremely pleased to be able to offer our US clients the full range of administrative services as a qualified trustee through our new sister company in New Hampshire,” said Fisher, Executive Vice President of both GLAS Americas LLC and GLAS Trust Company LLC.

“As banks and other familiar providers shy away from corporate trust services and loan administration, it has created a demand for quality, independent 3rd party firms like ours to step in and take their place. This has been beneficial to the marketplace, as smaller providers are often more nimble, non-conflicted and better suited to the needs of the corporate bond and loan debt markets.”

Fisher anticipates that as US interest rates rise, there will be additional demand for debt administrators to handle increased volume of refinancing and distressed debt activity resulting from increased borrowing costs.

Beyond the US, Fisher expects underserved markets such as Latin America to see greater demand for GLAS’ global trustee and loan agency services in light of higher rates especially impacting those areas. GLAS is one of the few firms equipped to provide loan and trustee services in that region, and the new US trust company will play a major role in meeting demand there.

For more information please contact Mia Drennan ( or Dan Fisher (


Asset-Backed, March 2017, Page 6


GLAS Team, New York
December 20, 2016

GLAS to sponsor 2016 Sydney Hobart Yacht Race

Global Loan Agency Services is proud to announce their sponsorship of Team Sonic in the upcoming 2016 Sydney Hobart Yacht Race.

CEO Mia Drennan said “This sponsorship coincides with the opening of the GLAS Australian office earlier in 2016, and we are thrilled to be able to support such an iconic Australian event as we continue to grow our Australian presence. We are also proud to be sponsoring the first predominantly Korean team to undertake the race, highlighting our close links to that country through our recently established Singapore operations.”

Exciting to be a part of the race

Head of GLAS Australia, Barnaby Webb, added: “Having taken part in the 2015 Sydney Hobart, it is exciting to be a part of the race again, although sadly this time from the shore. Special mention should be made to ex-Wallaby player Mick Martin, owner of the yacht Frantic which is being rebranded for the race, in helping us get her to the starting line. We look forward to seeing if the team can match it with the likes of the big guns like Perpetual LOYAL, and hope to continue our support of this race in the years to come.”

Australia, Client Services, Events
December 9, 2016

Success at the ALT Credit Awards Ceremony

GLAS is thrilled to announce it has won the best in class award for client services in debt and loan administration. GLAS won this award despite tough competition from BNY, Cortland, TMF, US Bank and others.

Speaking at the Alt Credit Intelligence European Performance Awards 2016 at Plaisterers’ Hall in London,  CEO Mia Drennan said,

“This is a testament to our people, right from the start our business has been focused on client services. To win this award is amazing and proves we are succeeding. The award is dedicated to the team. The awards are an evening of recognition and reward for those that have outperformed their peers over the past 12 months – with GLAS coming away with ‘Best Loan Administration – Client Services ‘.

We would like to thank our clients for their support and confidence in us and helping us win this amazing award.”


ALT Credit Awards Ceremony
Above: GLAS CEO Mia Drennan accepting the award for Best Loan Administration – Client Services at the ALT Europe Credit Awards Ceremony on 1 December 2016.

ALT Credit Awards Ceremony 2
Above: GLAS CEO Mia Drennan (center) with (left to right) Dan Hayes (Transaction Management), Lee Morrell (Transaction Management), Seema Vadgama (Client Services) and Lorna Fleming (Transaction Management).

Alt Credit Intelligence

Client Services, Events, GLAS Team
December 3, 2016

GLAS appointed as Successor Trustee

GLAS has been appointed as successor trustee on three series of Notes issued by Edcon. The Company has launched a comprehensive restructuring of its entire capital structure, which will include a South African Compromise Process in relation to the notes and has the support of a large number of its creditors. GLAS will continue to act as trustee on the New Notes issued.

For more information please contact:
Mia Drennan,
Helena Giles,

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