This week…
| Firm news |
| Two hedge fund firms had their asset management licences removed last month in Hong Kong, according to records from the Securities and Futures Commission. They are Owl Creek Hong Kong, which first received its licence in May 2011, and Wakestar Advisors, which received its licence in December 2010. US-headquartered Owl Creek Asset Management said in April that it was winding down its Asian funds and planned to de-register its Hong Kong office after the voluntary departure of Hong Kong-based co-Manager Chris Wang, according to a Bloomberg article. Wakestar Advisers used to offer an Asia-focused fundamental-driven volatility and credit fund…
Hong Kong-based BEA Union Investment Management has received approval to sell its products in Switzerland under the Switzerland-Hong Kong Mutual Recognition of Funds, sister publication International Adviser reported. The firm will be offering its BEA Union Inv Asian Bond and Currency Fund and the Asia Pacific Multi-Income Fund… |
| People moves |
| Deutsche Asset Management’s Jon Eilbech, who was responsible for Asia-Pacific , will continue with his global role as global chief operating officer. Based in London, he headed the region in an interim capacity. His APAC role will be taken over by Alex Prout, who will assume the role in November…
Prestige Fund Management has hired a scientist to boost the firm’s technical expertise supporting its lending strategy. Phil Hobbs, an expert in the field of biogas engineering, has joined the firm as a specialist finance arranger and will focus on optimising new and under-performing digesters in the agricultural and food waste industries, a core area of funding growth… Hermes Investment Management has appointed Silvia Dall’Angelo as a senior analyst. Based in London, she will report to Eoin Murray, head of investment and will be responsible for providing macroeconomic analysis and commentary, non-standard macroeconomic modelling and developing relationships with key central banks and monetary authorities. She previously spent ten years at Prologue Capital, most recently as a global economist… |
| Fintech |
| The Securities and Futures Commission has launched its regulatory sandbox to provide a confined regulatory environment for qualified firms to conduct regulated activities utilising fintech. The sandbox aims firms to identify and address any risks or concerns associated with their regulated activities before their services can be provided to the wider public in Hong Kong. Besides the SFC, the Hong Kong Monetary Authority also launched its sandbox last year…
Financial services firm Finantix has launched its “Finantix AI Gears for Wealth”, which the firm describes as “a collection of engines, tools and data structures that accelerate the injection of artificial intelligence into wealth management platforms”. The offering provides wealth managers, private banks and robo-advisors lead generation, automated client profiling and KYC, portfolio and financial planning optimisation, sustainability and cross-border rule enforcement, next best action determination, news tagging and content personalisation… |
