Standard Life is intending to expand its retail investment business in the Asian market with the opening of a branch in Singapore.
The move forms part of the group’s strategy to accelerate access to high growth, high value markets in Asia and emerging markets.
It follows the granting of full insurance licence approval by the Monetary Authority of Singapore, which will allow the life and pensions provider to operate in the defined market segment, enabling it to target high net worth individuals.
Located in Singapore’s central business district, the new office will open this month with a team led by chief executive officer and principal officer, Neal Armstrong.
Mr Armstrong joins from Zurich where he was director of Zurich Life Insurance and principal officer of Zurich International Life in Singapore.