GLAS expands Asia-Pacific presence with strategic acquisition of Serica Trust & Agency

Global Loan Agency Services (GLAS), a prominent provider of institutional debt administration services, has announced the acquisition of Serica Trust & Agency, a leading Hong Kong and Singapore-based firm specialising in loan agency and trustee services. This acquisition represents a significant milestone in GLAS’s expansion strategy, solidifying its footprint across the Asia-Pacific (APAC) region.

Enhancing Capabilities in a Growing Market

The acquisition, completed in late 2024, is GLAS’s third major strategic move of the year, following its earlier purchases of Watiga in Singapore and Pristine in France. GLAS aims to broaden its service offerings and geographical reach, particularly in markets like Hong Kong and China, which are pivotal for its APAC clientele.

Serica Trust & Agency has established itself as a market leader in corporate agency, trust, and escrow services, with a portfolio of blue-chip institutional clients located across the region. This acquisition will enable GLAS to enhance its ability to serve clients in complex local and cross-border transactions while leveraging its regulated status in key markets, including Hong Kong, Singapore, and Australia.

GLAS Co-Founders Mia Drennan and Brian Carne highlighted the strategic value of the acquisition, noting that it aligns with the company’s mission to provide conflict-free, independent debt administration services.

Leadership Synergy to Drive Regional Growth

Serica’s Founder and Managing Director, Louise Coffey, along with Hong Kong Operations Manager Rob Sandes, will continue leading the business under the GLAS umbrella. Their expertise, combined with GLAS’s resources, promises to deliver unparalleled client service across the APAC region.

Coffey remarked on the shared vision between Serica and GLAS, emphasising their mutual commitment to exceptional client service. She noted that Serica’s clients would benefit from access to GLAS’s global network, advanced technology, and a comprehensive suite of regulated trust and payment services.

The integration also fosters collaboration with Watiga Founder Matt Richards and the broader GLAS leadership team. Together, they plan to implement a unified strategy aimed at supercharging growth in one of the world’s most dynamic financial markets.

A Proven Track Record in Asia-Pacific

GLAS’s growing presence in APAC reflects its strong track record in handling high-profile restructuring transactions, including those of major Chinese real estate developers like Sino Ocean, Evergrande, and Sunac. By incorporating Serica into its operations, GLAS further strengthens its position as a trusted partner for institutional clients navigating the complexities of both local and international financial landscapes.

The acquisition brings GLAS’s total regional headcount to over 60 professionals, providing the company with a robust platform to expand its service offerings. The firm’s independent, non-creditor status and focus on delivering “white-glove” service have made it a preferred choice for clients seeking tailored solutions in the global credit market.

Looking Ahead: Growth and Innovation

This acquisition underscores GLAS’s commitment to growth and innovation. The company manages over $500 billion in assets under administration and has consistently demonstrated its ability to adapt to the evolving needs of its clients. With the addition of Serica, GLAS is better positioned to deliver high-quality services tailored to the unique demands of APAC markets.

By aligning with Serica’s established reputation and expertise, GLAS is set to accelerate its trajectory as a leading provider of independent debt administration services, reinforcing its global presence while meeting the nuanced requirements of its regional clients.