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Saxo Markets hires Greater China wealth head

The appointment follows the gaining of additional Hong Kong licences last year.
Ken Shih, Saxo Capital Markets HK

Saxo Capital Markets HK, an online trading and investment firm, has appointed Ken Shih as head of wealth management, Greater China, as it expands into digital wealth management in the region.

Reporting to Manish Prasad, head of asset management, Apac, Shih will look after all aspects of Saxo Markets’ wealth management strategies and offerings in Greater China, and work on building out Saxo’s digital wealth management business in the region. Based in Hong Kong, Shih will also report to Richard Douglas, CEO of Hong Kong.

Shih, an 18-year industry veteran in the financial industry, previously held senior sales and strategy positions at HSBC, UBS, JPMorgan Chase and other financial institutions in both the US and Hong Kong.

In the past three years, Shih was head of sales and marketing at Hong Kong-based fintech startup Aqumon.

 “With [Shih] joining and the Type 4 and Type 9 licenses we obtained last October, Saxo’s well-positioned and fully committed to the wealth management business which is an important piece in Saxo’s overall ambition,” said Richard Douglas, CEO of Hong Kong, Saxo Markets, in a media statement.

Saxo Markets gained Type 4 (advising on securities) and Type 9 (asset management) licences from the Securities and Futures Commission of Hong Kong (SFC) in October 2021.

The firm already held SFC Type 1, 2 and 3 licenses, and has been operating in Hong Kong since 2011.

“Saxo has strong ambitions to rapidly expand our business in Asia with Greater China playing a focal point in these plans,” Manish Prasad, head of asset management, Apac, Saxo Markets, said in the statement.

Part of the Mark Allen Group.