Allfunds opens office in Hong Kong
Allfunds, one of the world’s leading WealthTech and fund distribution providers, has strengthened its presence in Asia by opening a new office in Hong Kong, following the Type 1 and 4 licenses granted by the Securities & Futures Commission of Hong Kong.
Subsequent to the success of its operations in Southeast Asia, where Allfunds services circa USD20 billion and has expanded its distributors´ network to over 30, Allfunds will now focus its efforts on attaining a similar achievement in North Asia, a significantly larger market in the funds distribution arena. Hong Kong will become the hub for Allfunds in North Asia, according to a press release by the firm.
Subsequent to the success of its operations in Southeast Asia, where Allfunds services circa $20Bn USD and has expanded its distributors´ network to over 30, Allfunds will now focus its efforts on attaining a similar achievement in North Asia, a significantly larger market in the funds distribution arena. Hong Kong will become the hub for Allfunds in North Asia.
The new team will be led by Louis Poon, who has been appointed as Head of Hong Kong, having newly-joined the firm, and Stephanie Chan, who has also newly joined Allfunds as Head of Client Services, Hong Kong. They will both be based in Hong Kong and report directly to David Perez de Albeniz, Head of Asia at Allfunds, who is situated in Singapore.
Poon has over 20 years of asset management and banking industry experience. Prior to joining Allfunds, he worked for different financial groups such as Franklin Templeton Investments, Janus Henderson Investors, and Standard Chartered Bank, to name a few.
Chan brings with her over 10 years of experience in securities services and asset management firms, according to the press release, having held various client servicing roles in HSBC, JPMorgan and Euroclear.
Juan Alcaraz, CEO, Allfunds, said “We are very excited to announce the opening of our second office in Asia. As we continue to expand our operations in the region and globally, we will be able to provide our clients with greater expertise and more localised support to help them attain their goals. Our growth in the region has been dynamic and has already garnered a significant volume of assets under administration due to clients seeking out the unique value proposition that we offer.”
“The new office will play a key role in Allfunds’ regional growth and our team will build on our long-standing relationships whilst establishing new foundations in Hong Kong and continuing to provide top-quality client experience, innovation and digital solutions,” Alcaraz continued.
David Perez de Albeniz, Regional Manager Asia, Allfunds, said “We continue to see Asian markets offering great growth potential in the mutual funds space and we look forward to broadening our ecosystem with new distributors and fund managers coming from North Asia. With on the ground support in both Singapore and Hong Kong, Allfunds will strengthen its dominant position and will be better equipped to service pan-regional players.”
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