Nippon Capital Asset Management has announced plans to hire additional personnel to cope with a surge in institutional and private client numbers.
The company said that instead of the originally-planned 17, headcount will now be increased by 40, effectively doubling the firm’s overall headcount to 80 excluding senior management.
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The firm’s revised plans come as China’s stock markets recover from a tumultuous rout over the summer months which saw trillions of yuan wiped off the value of mainland Chinese companies and a number of securities industry players go out of business.
Nippon Capital Asset Management Co-CIO Charles Worth said: "We regard the improving situation in China as something of a green light for our plans for expansion outside of our native Japan. There is little doubt that the growth of the wealthy demographic in China is set to continue at a faster pace than pretty much any other country in the world and we think our unique brand of asset management can help those people make the most of their wealth."
The company added that it will be making a formal announcement with regard to plans to launch a number of satellite offices on the Chinese mainland shortly.
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