Syfe, the Singapore-based digital investment platform that is also one of fastest growing in Asia Pacific (Apac), is increasing its focus on Hong Kong with two senior hires and new product offerings.
Kevin Li, former Apac head of digital engagement at Schroders Investment Management, is Syfe’s new general manager and head of Hong Kong. He brings to the role experience in driving digital wealth advisory propositions, fintech alliances and strategic joint ventures.
In addition, Archit Parakh, former head of fund derivatives & quantitative investment strategies trading at UBS in Hong Kong, is Syfe’s new head of investments locally. His has over 14 years of experience as a derivatives trader at UBS and Deutsche Bank, and has managed and traded complex multi-asset solutions for institutional and private banking clients.
Together, Li and Parakh are mandated to spearhead their new firm’s expansion plans. They aim to replicate Syfe’s achievements in Singapore, where since launching in 2019, more than 100,000 clients now access a holistic range of solutions across both managed portfolios and brokerage services.
According to Dhruv Arora, the firm’s founder and chief executive officer, the new appointments reflect confidence in Hong Kong as a key wealth management hub.
“With Kevin’s extensive digital wealth innovation experience and Archit’s investment expertise, we are strengthening Syfe’s Hong Kong team to accelerate our growth in the region and to allow us to create new and exciting digital investment offerings for Hong Kong’s investors,” he explained.
Democratising product access
Syfe Hong Kong already has a wide suite of investment products and recently launched a cash management solution called Syfe Cash+ with 5.23% net yield p.a. without any management fee or lock-up period.
Syfe was also the first digital wealth platform in Hong Kong to bring direct indexing to retail investors, significantly reducing management fees compared with investing in funds or thematic ETFs.
In the pipeline for the coming weeks and months is the launch of a series of smart, innovative and unique products.
“With high savings rates and growing digital banking penetration, Hong Kong is a strategically important market for Syfe,” said Li.