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Maples Fiduciary Continues to Strengthen its Asia Pacific Offering

11 Nov 2014

Continuing to strengthen its capabilities in Asia, Maples Fiduciary, a division of the MaplesFS group, has hired its first fluent Mandarin- and Cantonese-speaking Senior Vice President who will act as an independent director. Yonn Yong is based in the firm's Singapore office and will play a key role in MaplesFS' long-term strategy for expansion in Asia.

"Having a Mandarin- and Cantonese-speaking professional join our team to provide director services was driven by client demand," explained Hugh Thompson, Global Head of Maples Fiduciary, also based in Singapore. "We are seeing increasing demand from Chinese fund managers who, in addition to having a director based in the Cayman Islands, desire a Mandarin- or Cantonese-speaking professional director based in the Asian time zone. Yonn's experience, which includes more than ten years in the People's Republic of China working on real estate projects involving Cayman Islands funds, will provide an invaluable benefit to our clients."

Yonn offers a unique advantage to Chinese clients, who will now be able to overcome the language barriers experienced at board level when deal documentation and negotiations are drafted or conducted in Chinese. In addition, with Yonn based in Singapore, Asian based clients will be able to experience a professional and responsive service from the Asian time zone.

Yonn will act as an independent director for a wide range of alternative investment funds including hedge funds, fund of hedge funds and private equity funds, as well as to Singapore-domiciled entities. Due to Yonn's language capabilities, knowledge and understanding of local culture, she will naturally be suited to serve on closed- and open-ended investment funds where the investment manager is based in Asia.

Maples Fiduciary's Singapore office provides company formation, registered office, company secretarial, client accounting, voluntary liquidations and directorship services for Singapore-domiciled entities. In addition, the team also provides director services for Cayman Islands, Hong Kong and British Virgin Islands-domiciled entities where an Asian time zone presence is needed. Together with its affiliates, the international law firm of Maples and Calder and Maples Fund Services, which provides award-winning accounting, regulatory compliance and administration services, the Maples group provides a comprehensive solution for fund managers in the region.

"Our growth strategy is based on our long-term commitment to the Asia Pacific region," said Scott Somerville, Chief Executive Officer at MaplesFS. "With Yonn's extensive experience and strong credentials, she will make invaluable contributions to the enhancement and expansion of our service offering in Asia."

The Maples group opened its first Asia law office in Hong Kong in 1994. This was followed by the establishment of MaplesFS in 2006, which has continued to grow significantly over the last eight years to more than 50 employees. Maples and Calder opened its office in Singapore in 2012 and MaplesFS' Singapore office opened a year later in 2013. The Maples’ Singapore group now comprises 19 lawyers and professionals. The group recently moved into its new 4,500 square foot office space in September.

Prior to joining Maples Fiduciary, Yonn was a consultant for two foreign funds in Shanghai. She was previously employed by Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd. and seconded to Keppel Land's Tianjin Eco-City Ayala Land Development Co., Ltd., and at Mapletree Logistics Trust Management Ltd. in Beijing. Yonn speaks English, Mandarin and Cantonese and is capable of conducting board meetings in both English and Mandarin.

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