Castlestone Management has expanded its presence in Asia by opening its first office in Singapore. ...
Castlestone Management has expanded its presence in Asia by opening its first office in Singapore.
The New York-based investment specialist, known for its alternative investments such as the Aliquot suite of commodity funds, has appointed Alexander Traub as director of business development in South East Asia.
Traub worked in financial services in Asia for seven years, initially with a regional brokerage, serving private clients in Hong Kong and then Shanghai.
Thereafter he set up a wealth advisory firm focusing on medium to high net worth private clients and operating out of Europe and the Far East.
Castlestone now has representatives in the UK, Europe, Hong Kong, Dubai, South Africa and South America and manages approximately $1bn of assets overall.
- Boutique fund manager Managing Partners Ltd (MPL) is also opening an office in Singapore to offer institutional and high net worth investors in the region investment in traded life policies (TLPs).
MPL has registered its Traded Policy fund with the Monetary Authority of Singapore, ahead of its Far East launch.
Jeremy Leach, managing director at MPL, said: "We chose Singapore because it is a sophisticated financial centre at the heart of Asia and an ideal location to expand the marketing of our products in the Far East.
"The Far East has been less affected by the credit crunch economically than Europe, but the region has experienced the same negative sentiment in equity markets, and Asian investors, not least the increasingly significant sovereign wealth funds, are seeking alternative investment strategies. Now is an extremely good time to launch in Asia."
The Singapore office will be headed up by Simon Cooper, who has spent the last three years in a sales role at boutique fund manager Welbeck.
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