The company said the new office, due to open on 2 April, will deliver “fully integrated fiduciary and administration services” and will operate in tandem with its Hong Kong office.
Appleby’s global group managing partner, Michael O’Connell, said: “As a business we feel that mainland China presents significant opportunities for us and for our clients. We already have a solid base in Hong Kong and we are keen to build on this.
“We have over two decades of experience of operating in Asia. It is a well trodden path for us. This tells us that the key to being successful in China lies in winning confidence and building solid relationships with our clients there. Having a physical presence near these clients is key to the next stage of our development.”
O’Connell added that the company had chosen Shanghai as it is the commercial and financial centre of mainland China.
Appleby is not alone in recognising the commercial opportunities of opening an office in Shanghai. In recent months, financial advisers Globaleye and the Henley Group as well as asset manager Julius Baer, have all opened offices in the Chinese city.
International law firm Withers also this week announced it plans to open in Singapore, its second office in Asia.
