INDEPENDENT ASSET MANAGERS & FAMILY OFFICES LEADERS CONVERSATION

Transcription

1 INDEPENDENT ASSET MANAGERS & FAMILY OFFICES LEADERS CONVERSATION November 01, 2016 The Westin, Singapore In partnership with

2 ADVISORY COUNCIL Ann Cooley Chief Executive Officer Pacific Hawk Anthonia Hui Chief Executive Officer AL Wealth Partners Charlie O Flaherty Head of Digital Strategy & Distribution Crossbridge Capital Harry Pang Founding Partner & CEO Fountainhead Partners Harmen Overdijk Managing Partner Caidao Capital Jason Lai CEO and Founder ThirdRock Capital Jessica Cutrera Founder, Managing Director and Head of Operations & Compliance EXS Capital Kenneth Ho Managing Partner Carret Private Leonardo Drago Chief Investment Officer AL Wealth Partners Mike Imam Co-Founder & Chief Executive Silverhorn Investment Advisors Noor Quek Founder & CEO NQ International Peter Lee Chief Executive Officer La Vintoll Capital Management Philippe Legrand Chief Executive London & Capital Asia Riccardo Lehman Managing Director Swiss-Asia Asset Management Stephan Repkow Founder and CEO Wealth Management Alliance Urs Brutsch Managing Partner & Founder HP Wealth Management Vinit Sarangdhar CEO Alpha Quest Yai Sukonthabhund Partner and CEO Crossbridge Capital Mandeep Nalwa Founder and CEO Taurus Wealth Advisors

3 PROGRAMME 8:45am 9:10am 9:10am 9:15am 9:15am 9:55am Registration and Coffee Opening Comments Sebastian Enberg, Editor, Asian Private Banker Leaders Conversation Panel 1 Today, independent asset managers/family offices manage in the range of 5% of the region s wealth in Hong Kong and Singapore. Industry leaders predict that this figure will double in time, but also acknowledge that key challenges remain. Notably, the fees for advice model remains a tough sell to clients who are used to receiving free advice, and firms that are unable to charge 100 bps on assets managed must rely on alternative fee structures to generate revenues in a difficult market environment. Add in regulatory uncertainty particularly with regards to the use of retrocession payments and achieving profitability as an independent player is today a tall order. This panel confronts the key hurdles facing IAMs in Asia and asks what concrete steps can be taken to increase their share of the region s AUM in a profitable manner. Moderator: Sebastian Enberg, Editor, Asian Private Banker Conversation catalysts: Anthonia Hui, Chief Executive Officer, AL Wealth Partners Pte Ltd Charlie O Flaherty, Head of Digital Strategy & Distribution, Crossbridge Capital Mandeep Nalwa, Chief Executive Officer, Taurus Wealth Advisors Noor Quek, Founder & CEO, NQ International

4 9:55am 10:35am Workshop Discussion Four key themes defining the future of asset management globally seeking opportunities from disruption M&G discusses the changing landscape for asset managers globally. Focusing on the key catalysts of change; the GFC, regulation, demographics and the use of technology in distribution, the session stresses the need for the industry to evolve its product proposition and distribution strategy for today s demanding global client set. Calling upon experience of emerging distribution trends from across the world, the workshop will share M&G s experiences from intermediary and client consultations since the GFC, and explain how changing behaviours are drastically changing the traditional manufacturing and consumption of financial products. Moderator: Jonathan Willcocks, Managing Director, Global Head of Retail Sales, M&G Investments 10:35am 11:00am Networking and Coffee

5 11:00am 11:40am Leaders Conversation Panel 2 IAMs Alternative Edge Lower returns, sustained uncertainty and bouts of turbulence are the new norms of investing in a world where economies are undergoing structural transformation and central banking policies are moving into unchartered territories. Sole dependence on liquid capital markets or plain vanilla long-only instruments will unlikely generate sound returns without taking on excessive risk. By one account, a portfolio in 2004 could generate 4% returns with 85% and 15% allocated to fixed income and equities, respectively. Today, half a portfolio would need to be allocated to equities to achieve the similar gains but with double the volatility. Consequently, global investors are actively allocating to alternatives whether through hedge funds to diversify away from pure long-only exposure, or via private equity. Indeed, the demand for private equity among Asian HNWIs and especially Chinese investors is vigorous as ever. IAMs looking to offset a slowdown in flow trades and to help clients achieve attractive risk-adjusted returns are today seeking out alternative solutions. And with critical mass and truly open architecture platforms, IAMs have both the access and capabilities to create a platform with breadth and independence. This panel explores how IAMs are meeting client demand for alternative strategies, and how clients are reacting to IAMs initiatives in this space relative to the offerings of incumbent global financial players. Moderator: Richard Otsuki, Senior Reporter, Asian Private Banker Conversation catalysts: Ron Lee, Chief Investment Officer, Wealth Management Alliance Leonardo Drago, Chief Investment Officer, AL Wealth Partners Pte Ltd Urs Brutsch, Managing Partner and Founder, HP Wealth Management(s) Pte Ltd Vinit Sarangdhar, Founder & MD, Alpha Quest Yai Sukonthabhund, Partner & CEO, Crossbridge Capital

6 MODERATORS Jonathan Willcocks Managing Director, Global Head of Retail Sales M&G Investments Jonathan Willcocks joined the industry in 1986, beginning his career with Hambros Bank in the Investment Management Division. Having moved into Investment Sales from Hambros, he joined Prolific as Regional Sales Manager in 1993 responsible for marketing mutual funds to intermediaries in East Anglia and West Midlands. Following the merger with Aberdeen in 1997, he became Investment Sales Director, having additional responsibility for clients in London and Switzerland. He moved to US investment house MFS in 2001 as Sales Director, responsible for sales into UK and Scandinavia before joining M&G Investments in February 2005 where he is now Managing Director for Global Retail Sales. His current responsibilities include being a board member, distribution strategy and overseeing all sales channels in the UK, Europe, Middle East, South Africa and Asia. Jonathan is also a Fellow of the UK Securities Institute, and a Chartered Wealth Manager. He also now sits on the UK IA Investment Funds Committee. Richard joined Asian Private Banker in 2012, where he covers a multitude of facets in Asia s private banking industry including asset management, capital markets and recruitment. Richard Otsuki Senior Reporter Asian Private Banker Richard graduated from Hong Kong Baptist University with a Bachelors of Arts in English Literature with a specific focus on postmodern literary theory. In his spare time, Richard is an avid fan of basketball both as a player and spectator. Sebastian is the Editor of Asian Private Banker. His background is in international politics, and Chinese foreign policy and security. Sebastian Enberg Editor Asian Private Banker Sebastian graduated from Victoria University of Wellington with a Master of Strategic Studies majoring in Strategic Intelligence, and more recently, from the City University of Hong Kong with a Master of Arts. In 2012, Sebastian was awarded the university s Top Scholar Prize for his cohort.

7 CONVERSATION CATALYSTS Anthonia Hui is a co-founder of AL Wealth Partners (ALWP) Pte Ltd, a specialty firm providing independent wealth advisory, fund management and multi-family office services. As a trusted advisor to families, Anthonia manages three to four generations of wealth and takes on board key family office functions. Anthonia Hui Chief Executive Officer AL Wealth Partners Pte Ltd Anthonia is a former top banker in major international banks including Coutts, Credit Suisse, BNP Paribas and Citigroup and has over three decades of experience in private banking, wealth management and family offices in London, Paris, Zurich, Hong Kong and Singapore. She co-founded the Association of Independent Asset Managers (AIAM) in Singapore with other like-minded members, a professional body of IAM firms, to support the nation s drive to be a leading global wealth management center. As President, Anthonia leads initiatives to assist members in promoting industry best practices as well as understand and meet regulatory issues related to IAM s independent business model. Anthonia is also committed to grooming talent in the industry. She is a leader and influencer in private wealth management and family office communities and is frequently invited to speak at universities and investment bodies both in Singapore as well as abroad. She lectures in workshops, seminars and courses to mentor students and professionals in wealth management and has contributed significantly in the design of professional courses and curriculum. In addition, Anthonia also advises on restructuring of wealth management practices for financial institutions. Prior to joining Crossbridge Capital, Charlie spent more than fifteen years building businesses focused on the structuring, trading and distribution of private investor products for the wealth management industry. Charlie O Flaherty Head of Digital Strategy & Distribution Crossbridge Capital At Bank of Ireland Global Markets in the US he served as Head of Strategy, Funding and Structured Products. Previously, he was Head of Private Investor Products at ABN AMRO and Incapital in the USA. He also worked at HSBC, Hong Kong as Head of USD Fixed Income where he built the US Dollar fixed income business in Hong Kong and expanded to Singapore, Tokyo, and London. Charlie is an international banking, finance and capital markets expert with more than twenty years experience in the Americas, Europe and Asia. Charlie received a Bachelor of Business Administration degree with emphasis in Finance from the University of Miami.

8 Leonardo spent his precocious childhood devising financial strategies on how to exponentially grow his pocket allowance. This challenge soon inculcated a love and appreciation of investments for him. Leonardo Drago Chief Investment Officer AL Wealth Partners Pte Ltd Leonardo started his banking career at Banque Nationale de Paris (BNP) Hong Kong. He then moved to Credit Suisse AG in Singapore, taking on the role of deputy team head in the bank s first Senior Client Partner team, where he stayed until his co-founding of AL Wealth Partners in At AL Wealth Partners he manages a diversified portfolio of global investments targeting absolute returns, specializing in macro-economic strategies, derivatives, foreign exchange trading, stock picking models and multiple asset classes. Leonardo is also a guest lecturer for several higher learning institutions in Asia and also frequent speakers in investment & banking forums, including the Singapore Management University (SMU) and University of Luxembourg, where he teaches wealth management seminars for banking professionals. He also writes for leading financial publications and business newspapers sharing his investment reviews. Mandeep Nalwa Chief Executive Officer Taurus Wealth Advisors Mandeep Nalwa is a wealth advisor with over 20 years of banking experience. He has managed high net worth client relationships across Asia with leading private banks like HSBC, Merrill Lynch and Citibank. He has been the primary advisor on large client portfolios and has been responsible for suitable development and implementation of customised investment advice and portfolio management. Prior to setting up Taurus, Mandeep had spent most of his career with various private banks in the Asia-Pacific region with specific exposure to equities, fixed income, currencies, derivatives and managed assets. As the Chief Executive Officer of Taurus Wealth Advisors Pte. Ltd. in Singapore, advising high net worth individuals within the framework of a multi-family office, Mandeep has successfully built up a team of experienced financial advisors, providing unbiased investment advice to the wealthy with total assets under advice currently in excess of USD 1.7 Billion. Mandeep is a member of the founding committee of the Association of Independent Asset Managers (AIAM) in Singapore. He is an alumnus of the Indian Institute of Management in Ahmedabad, India and the Sriram College of Commerce at the University of Delhi.

9 Noor Quek Founder & CEO NQ International Noor Quek has more than 40 years experience in a broad range of wealth management services, with various established financial institutions. Her previous positions, all based in Singapore, include being Head of Business Development (SE Asia) for Citi Private Bank, Director, Business Development (SE Asia) for GE Capital, and Deputy Managing Director for Rabobank Asia. She is based in Singapore and founded NQ International in October NQ International's key activities are family office advisory services particularly for Asia and the Middle East, business strategy for international corporations, and search and placement services for senior level executives up to the C-Suite. NQ International's not-for-profit activities include various charity-related activities which Noor is actively involved with. Noor is currently, among others, a founding member and President of Breast Cancer Foundation, a Board Member of The Singapore Ireland Fund, Board Member, ISCA Cares (Institute of Singapore Chartered Accountants), member of the Woman's Health Advisory Council, Singapore, and a was joint co-chairman of BoardAgender in Singapore. She is also a member of the Disciplinary and Inquiry committee of the Singapore Dental Council, and a member of the Inquiry committee of the Law Society, Singapore. Married with 3 grown children and seven grandchildren, Noor is an avid musician, often performing to raise funds for various regional charities. Ron has over 25 years of experience in capital markets, advisory and treasury as well as private banking relationship management, covering markets and clients out of Asia since Ron Lee Chief Investment Officer Wealth Management Association Prior to joining WMA as its Chief Investment Officer, Ron held the position of Senior MD, Head of Treasury and Investment Services at UBP Private Banking (Asia) for 4 years. At UBP, Ron managed portfolios of UHNW clients and oversaw the bank's discretionary mandates. As its Treasurer, he ran the bank's execution desk, and managed UBP Asia's balance sheet. He was also a member of the UBP Asia Executive committee and the bank's Investment Committee. Ron started his banking career in 1990 with Deutsche Bank in Australia. He moved to Singapore in 1995 and continued in Global Markets, Foreign Exchange and Fixed Income Sales until 2002 when he moved into private banking with Citigroup Private Bank, and joined Lombard Odier Singapore in 2007 as Head of Advisory. Ron is an Australian national, a permanent resident in Singapore, and studied at the New South Wales Institute of Technology, Sydney.

10 Urs is the Managing Partner and Founder of HP Wealth Management, and independent asset manager whose core competency lies in the management of money, on both an advisory and discretionary basis. Urs Brutsch Managing Partner and Founder HP Wealth Management Before founding HP Wealth Management, Urs was instrumental in building three private banks in Asia - Credit Suisse, ABN AMRO, and Clariden - in Asia between 1986 and He is a co-founder of the Association of Independent Asset Managers (AIAM), Singapore. Vinit Sarangdhar Founder and Managing Director Alpha Quest Vinit Sarangdhar is the founder of Alpha Quest which is a new independent investment advisory and fund management company. Alpha Quest provides services like investments, trading and capital raising to HNIs, institutions and companies. Before starting the company, Vinit worked with various banks in Mumbai and Singapore. He has experience of over eighteen years across FX trading, portfolio management, investment advisory and structured products. Vinit has a post graduate degree in Business Management from University of Mumbai as well as in Physics from University of Pune. Yai Sukonthabhund Partner & CEO Crossbridge Capital Yai Sukonthabhund is Partner and CEO of Crossbridge Capital Asia. Crossbridge Capital is a global wealth management firm that provides independent and tailored investment solutions to private clients. Crossbridge Capital was founded in 2008 and has regulated offices in London, Singapore and Monaco with approximately US$3 billion under supervision. Prior to joining Crossbridge Capital, Yai worked at Deutsche Bank, Citibank and Bank Julius Baer.

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