Bank of Bermuda boosts Asia presence

The Bank of Bermuda, whose business includes banking, asset management and fund administration, today announced three new appointments to its Asian headquarters in Hong Kong. The bank says the appointments were driven by the increasing importance of focusing on client needs.

Two of the positions are in the global fund services group, with a focus on the demands of fund managers. Sandra Augustin, a qualified barrister, will take up the post of director of business development for Asia. Augustin, formerly director of product development with the Royal Trust Corporation of Canada, will be responsible for developing client relationships.

"Sandra brings to the role vast regional and international experience of both product and client development," says Paul Smith, global head of global fund services. "Sandra also adds to Bank of Bermuda's unique pool of first class legal knowledge, which is invaluable in the establishment and management of a reliable and secure fund structure."

Also joining the funds group will be Joanne Murphy in the newly created position of head of hedge funds for Asia. Murphy joins the bank from the Hong Kong rating agency RCP and Partners, having also worked at Morgan Stanley in London.

"Whilst the hedge fund industry in Asia is relatively small at the moment, we believe there to be considerable growth prospects over the next few years and demand is already growing," says Smith. "Joanne has a great deal of knowledge and expertise to contribute and will be able to further spearhead the bank's role as a conduit and centre of information for European- and US-based investors and Asian-based fund managers."

Completing the new arrivals is Simon Lo, who takes up the post of associate director, investment services in the bank's private client services team. Lo's area of responsibility will be the management of investment affairs of high net worth private clients in Asia. Lo has spent the last seven years in the private banking sector, working for National Australia Bank and Dao Heng Global Private Banking.

"Simon has many years experience with Asian-based private clients and understands the value to high net worth residents across the region of offering expertise in total solutions to wealth management," says Bernard Rennell, head of private client services in Asia. "Bank of Bermuda's best-of-breed approach to investment has proved very popular globally and Simon has the experience to identify clients' individual needs and ensure the best solution with consistent standards of service and performance."