Aberdeen’s McCole eyes fewer broker contacts

The large number of broker relationships that buy-side traders must contend with is a big issue in Asia, and the situation doesn’t appear to be easing, say fund executives. That's despite a trend in recent years for broker-dealers to reduce the number of sales traders they have in each market. For one brokerage that deals in 10 geographic markets, a buy-side trading desk is likely to deal with up to 10 individual contacts, notes Derek McCole, Asia-Pacific head of equity dealing at…