American investment company Vanguard is set to shutter its Singapore office following a global strategic review.
The company will consolidate its Singapore operational and client activities in Hong Kong. The process is expected to be concluded by the end of this year.
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“As part of broader efforts to streamline on-going client service and operational activities across Asia, Vanguard will consolidate its Singapore operations and distribution activities under Vanguard Investments (Hong Kong) Limited in Hong Kong,” the company said.
In the meantime, Vanguard will work with its clients in Singapore to ensure a smooth transition.
Led by Richard Wane, the company’s Singapore office employs 11 staff. The company did not clarify whether the team will be re-deployed to other sectors, stating that it is too early to speculate on the issue.
Vanguard’s Singapore office was set up in 2003. The company’s other Asian offices are located in Sydney, Tokyo, Beijing, Shanghai.
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