Fund executives put the territory well ahead of mainland Chinese cities and Singapore in this regard, despite certain reservations, finds a survey by BBH due for release today.
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It would make little sense for China to accept Ucits funds or to merge with other Asian passport schemes, says Sean Tuffy, head of regulatory intelligence at custody bank BBH.
Savills IM names Asia AM chief; Sanctum plans hires after RBS deal; HK SFC names interim enforcement head; Robeco gets new chairman and CEO; and BBH names new global boss.
Chinese managers are tipped to increasingly look to independent overseas listings of ETFs, without a foreign partner. But they face difficulties in building their own infrastructure to support products.
A recent example of this was the September approval of only the second HK-domiciled ETF for sale to Chilean pensions. Sean Tuffy of Brown Brothers Harriman expects this momentum to build.
ABN Amro Private Banking, BNP Paribas Wealth Management and BNY Mellon all make senior hires.
Brown Brothers Harriman appoints Scott McLaren in Hong Kong to grow its base of global clients and increase the assets it services for fund managers and financial institutions.
The firm has launched its data translator service Infomediary in Taiwan to speed up order-flow processing and increase distribution power. Its next target market is Singapore.
Brown Brothers Harriman is busy building its Infomediary team in Asia – and locating the global head of sales in Hong Kong is a clear statement of intent.
The custodian has transferred BBH veterans Robert Lees and Richard Meek to Hong Kong to strengthen its securities-lending presence.
Senior partner Andrew Tucker moves to Hong Kong from New York as the custodian's first Asia-Pacific head based in the region.
LJ Jia will head Brown Brothers HarrimanÆs new Beijing representative office.