Bermuda, UOB form transfer agency JV

Bermuda Trust, a wholly owned subsidiary of Bank of Bermuda, and United Overseas Bank (UOB) have formed a joint venture company, Asia Fund Services, to handle transfer agency services for fund managers in Singapore - and ultimately the rest of Asia. "We both had technology that was getting tired and needed to be refreshed, and we both realized how important the transfer agency piece is in a fund manager's value chain," explains Paul Smith, global head of funds services, Bank of Bermu…