Allfunds, which has been named as the largest fund platform in Europe, will launch its services in Asia early next year.
The firm is opening an office in Singapore that will also serve Hong Kong and Taiwan. David Pérez de Albeniz, who moved to Singapore
from the Middle East in 2014, will manage the new office for the company.
"Banks, insurance companies, asset managers and wealth managers in Asia are taking a very hard look at their bottom lines and how effectively they run their business," said Pérez de Albeniz. "When talking to Allfunds they quickly realise that they can hand over mutual fund services to a business that has an institutional focus with a very extraordinary degree of specialisation."
Created in 2000 and co-owned by Santander and Intesa Sanpaolo, Allfunds was named the largest "open architecture" funds platform in Europe in 2015 by Platforum, a research and advisory group.
Allfunds says it offers nearly 50,000 funds from 550 fund managers and has more than €249 billion ($258 billion) in assets under administration.
Juan Alcaraz, chief executive, says: "We want to become global and entering Asian markets is a natural and resolute step for us."
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