Pacific Trustees partners OCBC Bank to offer estate planning, integrated corporate services

KUALA LUMPUR: Pacific Trustees Bhd and OCBC Bank (Malaysia) Bhd have entered into an agreement to make estate planning and integrated corporate services accessible to more Malaysians.

Through the collaboration, both parties will share their experience and leverage their combined resources to offer added value to their clients.

With this, customers can look forward to accessing the estate planning services of Pacific Trustees through OCBC Bank’s business referral model, with value-added services offered for wealth preservation and succession planning.

During the five-year alliance with OCBC Bank, Pacific Trustees will offer its wide range of will and trust plans throughout Malaysia as well as integrated corporate services in Labuan.

Pacific Trustees group international chairman Paul Cheah said the collaboration will increase the distribution channels of the estate planning and integrated corporate solutions, giving Malaysians greater access to these financial solutions to prepare a holistic wealth plan.

“Over the decades, we have established ourselves as specialists in estate planning. More and more Malaysians are aware of the importance of having a will today, and we aim to also increase awareness about having a trust as well, in particular investment and insurance trusts.

“We have a wide range of estate planning solutions, ranging from wills to care trusts, investment trusts, insurance trusts and family office trusts. For those wishing to give back to society, we also offer philanthropic support services by helping to set up charity and non-profit foundations,” he said in a statement today.

The collaboration with OCBC Bank is part of Pacific Trustees’ expansion plans, with further alliances with other financial institutions, including insurance firms, in the pipeline. The company recently embarked on a digital transformation plan, which aims to unlock value in the collective investment scheme, estate planning and digital asset custody.

Meanwhile, OCBC Bank managing director & head of consumer financial services Anne Leh remarked that its bank is committed to growing its wealth management products and solutions which includes the all-important dimension of estate planning.

Pacific Trustees, a 28-year-old regional trust company with a presence in Kuala Lumpur, Singapore, Labuan and Hong Kong, has provided trust services to more than 270 bonds and sukuk issuers in the market, with a total fund size of about RM509 billion in nominal value.