Insurance giant chooses integrated Asia-Pacific FSO teams
Our reputation as the most globally integrated professional services provider is earning success in Asia-Pacific. It was one of the reasons why insurance giant Prudential appointed an integrated global Financial Services Organization (FSO) team including Asia-Pacific colleagues from Hong Kong and Singapore to assist in its response to the US Foreign Accounts Tax Compliance Act (FATCA).
How to address FATCA is an issue facing many clients and targets across Asia-Pacific and globally. It's a new legislation that requires affected financial institutions to identify their customers and prove whether or not they are US citizens. Our joint Advisory and Tax approach to helping clients comply with FATCA, along with our ability to provide an integrated global team, was an important factor in winning the assignment with Prudential, which has operations in 10 markets across Asia-Pacific.
"By teaming across Tax and Advisory in Singapore and Hong Kong, as well as with our FSOs in EMEIA and Americas, we were able to demonstrate to Prudential how our integrated global network matched their global needs," says Insurance Practice Leader, Asean, Graham Handy.