CHINA - Deutsche Bank has become the first firm to base its regional transition management service in Asia (excluding Japan).
It means Deutsche Bank will be targeting all Asian investors from its new regional hub in Hong Kong.
It follows the easing of local restrictions on foreign asset allocations in Asian markets which has led to demand for regional transition management services.
Commenting on the transition management service, Deutsche Bank Co-head of Asian equity sales, Denis MacCarthy, said: “Hong Kong provides an excellent hub for servicing institutional investors in Asia. It allows us to better understand the issues faced by our clients in the region and ultimately deliver a more tailored, more responsive service than our competitors.”
“In order to deliver an effective transition management solution to clients in Asia, we felt it was imperative to be able to cover all asset classes and all markets directly using our own in-house capabilities”, MacCarthy said.
Last year, Deutsche Bank recruited Tom Clapham from Mercer Investment Consulting in Singapore to lead the Bank’s Transition Management business globally.
To view the development in context, China, Korea, India, Japan and Taiwan have all recently released initiatives to give state pension funds more flexibility in their investment decisions, allowing them to allocate a greater proportion of their assets towards equities and overseas markets.
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