Cayman Islands to open Singapore office to lure Asia’s wealthy

The Cayman Islands will open an office in Singapore by the end of the year, as the Caribbean offshore financial services centre seeks to capture more business from Asia’s hedge funds and wealthy families.

An office in Singapore would allow the Caribbean territory to “better capitalise on the many new business opportunities . . . that the Asian region has to offer”, said André Ebanks, Cayman Islands financial services minister, on Friday.