The company said customer numbers from its wholly-owned retail savings business in Asia and emerging markets hit 48,238 in 2013 up from 39,423 in 2012.
Across its Asia and emerging markets business, Hong Kong accounted for most of the increase, while in Singapore and Dubai, the company continued to see “strong levels of growth”, a statement said.
Neal Armstrong, chief executive and principal officer for Standard Life Singapore said: “We are really excited by the strong performance our Singapore operations posted over the past year. In our first year of operation, we received tremendous support from our IFA intermediaries in Singapore, which provided us with a great foundation.
“We have identified where the Singapore market is going in terms of customer needs and what our customers are looking for in a savings and investment plan.”
The company is working towards securing its position as the “leading customer-centric savings and investments provider” in Singapore, Armstrong added.
Alan Armitage, chief executive of Standard Life Asia and emerging markets highlighted Hong Kong and the wider Asia and emerging markets region as a key priority for the Standard Life Group.
Armitage said: “The growth in numbers reflects our focus on the customer, as we strive to continually review our products to meet their evolving needs, and help secure their financial futures. Standard Life will continue to distribute investment solutions by doing new things to expand and respond to market needs.”
Standard Life has been expanding its operations in Asia over the last two years. In October 2012, the company opened a Singapore office and also established its first Middle East office shortly after opening in Singapore. It recently expanded its existing Hong Kong operation as part of plans to make it the Asia Pacific hub and gave Armstrong additional oversight of that unit.
Standard Life has also established an Asia advisory board to provide guidance and advice on its strategy to grow across the region, even as it recently said the start up costs due to Asia and Middle East expansion dented its 2013 earnings.
