DE-CSC
15.12.2020 01:02:14 CET | Business Wire | Press release
CSC, a world leader in global business, legal, tax, and digital brand services, is pleased to announce that it has acquired FIRSTCORP PTE. LTD (FIRSTCORP) and its affiliates, a Singapore-based service provider of company secretary and administration services to corporations and alternative asset managers.
FIRSTCORP offers company formation, corporate secretarial, and domiciliation services. It specializes in the establishment and ongoing administration of Singapore companies as well as business entities in other key financial centers including Hong Kong, and other jurisdictions such as the British Virgin Islands, Cayman Islands, and Labuan. By managing the administrative and corporate secretarial compliance responsibilities of businesses operating in those jurisdictions—together with its strong network of partners—FIRSTCORP’s services enable its clients to navigate the increasingly complex international regulatory environment.
“We’re delighted to welcome FIRSTCORP to CSC, as the move strengthens our service offering in the Asia-Pacific market,” says CSC Executive Vice President John Hebert. “FIRSTCORP has an impressive track record and strong service-oriented culture similar to our own. Its jurisdictional expertise, bespoke solutions, and long-term approach to managing client relationships make it an excellent addition to our overall global offering.”
The acquisition of this Singapore-based business extends CSC’s capabilities for its Global Financial Markets (GFM) clients and boosts its physical presence in a leading Asia-Pacific (APAC) financial center. CSC already has an established team in Singapore, as well as additional APAC locations in Hong Kong, Shanghai, and Shenzhen. The acquisition follows several strategic hires and investments CSC has made in APAC in the last year, including scaling its fund administration offering and bolstering its international expansion businesses in the region. This has enabled CSC to provide administration services for corporations, family offices, and fund structures, such as Singapore variable capital companies (VCC), in addition to multiple structures related to venture capital, private equity, real estate, and trade finance and loan administration funds.
“Beyond extending our capabilities in APAC, this acquisition complements the market, regulatory, and jurisdictional expertise we provide to clients to help them achieve their business objectives,” says Agnes Chen, managing director of CSC’s APAC region. “Our ability to provide a wide range of support, from initial fund setup and onboarding to day-to-day administration of funds and investment structures and corporate services, is highly valued by clients and makes for a strong cultural fit between our respective organizations.”
FIRSTCORP was founded in 2003 and is centrally located in the heart of the Singapore business and financial district. All FIRSTCORP employees will join CSC as part of the acquisition.
“By joining forces with CSC, we’re reinforcing our local expertise with CSC’s global capabilities,” says FIRSTCORP Director Jenny Oh. “We share CSC’s vision of becoming the leading corporate service provider in our industry. And by joining together, we will be able to offer more services to our local clients, as well as expand our offerings to clients in North America, Europe, and the Asia Pacific Region.”
About CSC
CSC is a leading provider of specialized administration services to alternative asset managers across a range of fund strategies, capital markets participants in both public and private markets, and corporations requiring fiduciary and governance support. We are the unwavering partner for 90% of the Fortune 500® , nearly 10,000 law firms, and more than 3,000 financial institutions. CSC’s Global Financial Markets professionals are located in key financial centers across the U.S., Europe, and Asia-Pacific. We are a global company capable of conducting transactions wherever our clients are―and we accomplish that by deploying experts in every business we serve. For more information about CSC's services, visit cscgfm.com.
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