Degroof Asset Management (HK), a subsidiary of Banque Degroof Luxembourg, has secured approval from the Securities and Futures Commission (SFC) to offer asset management services for investment funds in Hong Kong.
The new business will offer asset management, risk management, investment compliance monitoring and distribution oversight.
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It will leverage the expertise within its Alternative Investment Fund Managers Directive/Undertakings for Collective Investment in Transferable Securities management company, Degroof Gestion Institutionnelle-Luxembourg, developed over the past decade in Luxembourg.
Degroof Asset Management (HK) is led by Michael Stockford, who has over 30 years of experience in the banking and asset management sector.
Banque Degroof Luxembourg managing director Geert De Bruyne said: "The asset management subsidiary will reinforce our commitment toward Hong Kong and the Asian region, as part of the strategic expansion of our representative office in Hong Kong.
"The representative office has already allowed us to develop closer ties with industry practitioners in Asia."
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