Covid-19 leads East Capital to shrink Asia staff
The emerging markets fund manager has reduced headcount and handed back its licences in Hong Kong in the face of economic uncertainty. But it retains a research function in the city.
Sweden's East Capital, an emerging markets-focused fund house, has reduced its Asia headcount and handed back most of its Hong Kong licences in the face of the uncertain global economic outlook amid the Covid-19 outbreak.
“We have decided to consolidate some parts of our business globally, and this means that we are handing back our licences to the SFC [Hong Kong’s Securities and Futures Commission],” said Karine Hirn, Hong Kong-based co-founder, partner and chief sustainability o…
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