It is through this global network that the strategic alliance of Standard Wealth and ILS Asia will be able to provide a variety of overseas Trust products, which will be tailored to meet the needs of each client. Overseas Trusts, for which there is a burgeoning market within China, are a wealth management tool based on common law and are widely used in Western economies. They were first conceived over 800 years ago in England and the Isle of Man, which is where The ILS Group is headquartered, is considered to have one of the most developed Trust law backgrounds of any low tax jurisdiction.
Standard Wealth Managing Director, Mr. Quan Dan Song, said: hina has consistently been a driver of growth and dynamism over the last 10 years, and the innovative position we are looking to take within the market is to combine the growth and dynamism of Chinese investments with the security and expertise of Western style wealth management tools. ILS Asia is an ideal partner for us, as it combines a deep understanding of the local Chinese market with access to a global network of products and offices. We are honored to be able to deliver their expertise to our clients.
ILS Asia Managing Director, Mr. Chris Eaton, said: his deal represents a significant step in the development of the Trust market in China. It will create the first Chinese platform combining access to national demand and an international range of Trust solutions. We have maneuvered significant resources throughout our Group to make this deal possible and to ensure that our Chinese clients receive the expert service which has been an ILS trademark throughout our history. We are delighted to be collaborating with such an impressively resourced partner as Standard Wealth and we are excited by the opportunity this deal creates.
The signing event, which took place at The Grand Kempinski Hotel in Shanghai, was attended by an exclusive audience of industry leaders, while the key note speech was be given by Mr. Allan Bell, who is the Chief Minister of the Isle of Man Government.
