Global Prime Partners receives Hong Kong licence 18 September 2015London Reporter: Becky Butcher
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Global Prime Partners has received regulatory approval from the Securities & Future Commission of Hong Kong.
Following its approval, Global Prime Partners will now begin trading from its Hong Kong office. The new office will provide execution and prime brokerage services to Asia-based fund managers, family offices and professional traders.
The Hong Kong office, headed by Alastair Sclater, formerly of Newedge and UBS, is already experiencing strong demand for its services.
The growth in revenue at Global Prime Partners of over 30 percent during the last 12 months, combined with the opening of the new Hong Kong office, reflects investors’ growing demand for its trading and prime brokerage services.
These services are aimed at the smaller to medium sized fund managers, which are being overlooked by banks and the larger broking firms.
Julian Parker, chief executive of Global Prime Partners, said: “The opening of our Hong Kong office demonstrates our long term commitment to client servicing in Asia. We are already experiencing high levels of interest in our services offering and look forward to launching further products in the region.”
“The entire broking industry is experiencing a new wave of demand from sophisticated investors who are finding it harder to attract the attention of banks and custodians.”
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