Fund platform Allfunds has set up an office in Hong Kong after securing Type 1 and 4 licences from the Securities & Futures Commission of Hong Kong.
The new office will serve as the firm’s new North Asia hub.
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The firm’s Hong Kong head Louis Poon and head of client services in Hong Kong Stephanie Chan will be in charge of the new outpost.
The duo will report to the head of Asia David Perez de Albeniz.
In a two-decade-long financial career, Poon has worked at Franklin Templeton, Janus Henderson, and Standard Chartered.
Chan previously had stints at HSBC, JPMorgan as well as Euroclear.
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By GlobalDataAllfunds already has a strong presence in Southeast Asia. It services $20bn from more than 30 distributors in the region.
The firm launched its first Asia office in Singapore in 2016.
Allfunds CEO Juan Alcaraz said: “As we continue to expand our operations in the region and globally, we will be able to provide our clients with greater expertise and more localised support to help them attain their goals.
“Our growth in the region has been dynamic and has already garnered a significant volume of assets under administration due to clients seeking out the unique value proposition that we offer.”
Developments at Allfunds:
In September last year, Allfunds acquired Credit Suisse’s InvestLab business-to-business investment fund platform.
The combination is said to offer over 78,000 funds and ETFs to financial institutions across 45 countries.
Last July, Allfunds purchased the fund research business of fundinfo.
Earlier in 2019, Allfunds agreed to acquire Nordic Fund Market, an electronic mutual fund service, from Nasdaq.
