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Global Loan Agency Services (“GLAS”) is delighted to announce the acquisition of Serica Trust & Agency (“Serica”), the leading Hong Kong and Singapore based loan agency and trustee services provider.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250105796996/en/
GLAS successfully completes the acquisition of Serica (Graphic: Business Wire)
The transaction represents GLAS’s third successful strategic acquisition completed in 2024.
Over the past year, GLAS has been focused on significantly growing its Asia-Pacific footprint to support the needs of its large client base in the region, with an emphasis on growing its geographical and white glove service capability, adding Hong Kong and China to its global network.
GLAS has already been associated with several high-profile restructuring transactions in the region including Sino Ocean, Evergrande and Sunac.
GLAS will provide Serica’s client base with extensive global capabilities and, following its successful acquisition of Watiga earlier in 2024, a highly experienced local partner to support clients in Hong Kong, Singapore and the broader APAC region.
Louise Coffey, Founder and Managing Director of Serica, will continue to lead the Serica business with Rob Sandes overseeing the Hong Kong operations. The newly acquired team will work alongside Watiga Founder, Matt Richards, and GLAS Founders, Mia Drennan and Brian Carne to launch a combined strategy to supercharge GLAS’s growth across the Asia-Pacific region.
Following the acquisitions of Watiga and now Serica, GLAS has more than 60 people based in the APAC region.
The GLAS group benefits from being one of the only independent providers to be authorised and regulated in Australia, Hong Kong and Singapore, which allows it to offer regulated trust and payment services to its clients.
GLAS Co-Founders, Mia Drennan and Brian Carne, said:
“The acquisition of Serica represents another significant milestone for us, complementing our recent acquisitions of Watiga in Singapore and Pristine in France, and is set against the backdrop of another year of amazing organic growth across the company.
Brian and I are excited to welcome Louise, Rob and their team to the GLAS family, and we look forward to providing a range of products and services across the Asia-Pacific region which is important to our clients.
Having local teams in Hong Kong and Singapore strengthens our ability to deliver exceptional service on both local and cross-border complex transactions originated in the Asia-Pacific markets.”
Serica’s Founder and Managing Director, Louise Coffey, commented:
“It has been a privilege to build the Serica business over the past four years, and Rob and I are really excited for what the future holds for our clients and team as part of GLAS.
From inception, we have prioritised providing exceptional levels of client service and are thrilled to join a group that mirrors our dedication to providing a front-office approach to back-office services.
This acquisition will enhance our capabilities in the region across all fronts and offer our clients access to market-leading technology, regulated coverage and a global network to support their needs.”
About Serica
With offices in both Hong Kong and Singapore, Serica is an established market-leading provider of corporate agency, trust and escrow services with a roster of blue-chip institutional clients predominantly located across the Asia-Pacific region.
About GLAS
GLAS was established in 2011 and is the premier independent, non-creditor, conflict-free provider of institutional debt administration services covering the global private and public credit markets.
GLAS, which services in excess of US$500bn of assets under administration, is headquartered in London and has operations in the US, France, Germany, Spain, the UAE, Singapore and Australia.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250105796996/en/
