Hugh Chung has been named chief investment advice officer of Endowus, the digital wealth management platform in Asia.
Chung will oversee the joint efforts of the Endowus Group’s central location Investment Office, which incorporates the Endowus digital platform, Endowus Private Wealth, and as of now, Carret Private.
With more than 20 years of experience in asset management and financial advice throughout Asia, Chung was previously responsible for strategic asset allocation, portfolio development, and fund selection across all regions and asset classes as the Chief Investment Officer for a single family office.
Chung was a founder member and senior investor in two of Asia’s most successful hedge fund launches, Kadensa Capital and Azentus Capital. In addition, he previously oversaw Korea equities distribution at JPMorgan, as well as Principal Strategy Group in Asia at Goldman Sachs and Samsung Securities.
“As a client and keen observer since its inception, I have been impressed by the scope of business, investment solutions, and relationships Endowus has managed to build in a short time. Today, I am excited to be a part of the wealthtech transformation Endowus is leading, to empower more clients and remain aligned with their needs, by offering low-cost access to best-in-class investment solutions. I am also looking forward to contributing to the continued expansion into new asset classes such as private markets and alternatives, and in new markets like Hong Kong,” Chung comments.
He will collaborate closely with Samuel Rhee, chairman and chief investment officer, to provide group strategic direction on the expert curation and management of all investment solutions across public and private markets currently available to tens of thousands of Singapore and Hong Kong individual and institutional investors.
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Furthermore, Chung will take the lead in integrating the investment strategies and functions of Endowus and Carret Private into the Endowus Group due to his extensive investment expertise across all asset classes.
Endowus Group acquired a majority position in Hong Kong-based Carret Private in October 2022, propelling Endowus Group to become one of the largest independent wealth managers, with assets exceeding $5bn.
Rhee adds: “Hugh’s extensive experience in client advisory and managing and investing client assets across the full spectrum of asset classes makes him an ideal candidate to offer leadership and greater expertise to the central Investment Office of the Endowus Group. As we gear up for launch in Hong Kong, Hugh’s regional expertise and his time spent in the market will also be a valuable asset to us. More importantly, our clients in Singapore and beyond will enjoy the greater benefits of the best portfolio strategies and investment solutions curated for them to achieve their wealth goals.”
Together with Rhee, Chung will work collaboratively with the 14-person Endowus Group Investment Office, situated in Singapore and Hong Kong, as well as Sean Wong, Head of Investments, Min Axthelm, Director of Investment Research.
The Investment Office offers institutional-grade fund manager selection, fund due diligence, portfolio creation, optimisation, monitoring, and review. This service is a standout component of Endowus’ open architecture wealth advisory platform that supports the empowerment of individual investors through guidance, accessibility, and cost.