From BHLB Trustee to CIMB Commerce Trustee

Sigh …. why must it be so complicated? Let me set the record straight, since I’m well aware of the history of Rockwills Corporation, having been associated with this estate planning business since 1996.

Long ago, which was some 20 years in the past, Rockwills Corporation was working with BHLB Trustee to provide executorship facilities to their clients. Clients that chose to write their wills with Rockwills Corporation could choose to appoint BHLB Trustee as their executor instead of individuals.

For a long while, this worked fine for both parties. Fine until in 2001, BHLBank was taken over by Southern Bank. The takeover meant that BHLB Trustee as a subsidiary company of BHLBank became owned by Southern Bank too. After Southern Bank was in turn acquired by CIMB Bank in 2006, BHLB Trustee changed its name to CIMB Commerce Trustee.

For five years, from 2001 to 2006, Rockwills Corporation continued to work with Southern Bank-owned BHLB Trustee but as time progressed, it became clear to Rockwills Corporation that the focus of Southern Bank was not the same as the old BHLBank. Furthermore, Rockwills Corporation realised that if the company wanted to progress further in the estate planning business and fend off new companies that were eyeing the same business, they would need a trusted partner that could move forward in pace with them, and BHLB Trustee just wasn’t keeping up.

As a result, Rockwills Trustee was set up by Rockwills Corporation in 2006 to take over the estate administration and trust services from BHLB Trustee. Since then, clients who write their wills with Rockwills Corporation now have a choice to appoint either individuals or Rockwills Trustee to be their executors.

All the past clients of Rockwills Corporation that had appointed BHLB Trustee previously were advised to write a new will and make a new executorship appointment. A majority chose to do so but there were also a considerable minority numbers that stayed put with BHLB Trustee, not willing to re-write their wills. Anyhow, CIMB Commerce Trustee is still around and though their main focus today is on offering trust services to Unit Trust companies, they will still assume the role of an executor if the need arises.

This entry was posted in Resume Writing, Rockwills & Estate planning, Rockwills & Inheritance and tagged , , , , , , , , , , , , , , . Bookmark the permalink.

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