Federated Hermes widens Asia presence with Hong Kong office
The New York-listed asset-manager, Federated Hermes, has announced the opening of a new office in Hong Kong to accelerate its push into private banks, family offices and wealth intermediaries across the region.
The firm with USD$871.2 billion in assets under management (AUM) confirmed the move at the Asian Financial Forum (AFF), a year after CEO Chris Donahue said the US-headquartered manager was considering a presence in the city.
Subject to regulatory approvals, the Hong Kong office will be Federated Hermes’ fourth base in the Asia Pacific after Singapore, Tokyo and Sydney, where the firm has been operating since 2010.
Head of Distribution for Asia Pacific at Federated Hermes, Jim Roland said the move will further strengthen the company’s regional appeal.
“Asia continues to be one of the fastest-growing wealth markets globally, with clients increasingly seeking partners who can support more sophisticated investment strategies and portfolio construction,” he said.
“Establishing a presence in Hong Kong enables us to work even more closely with partners and clients on the ground, providing localised service and expertise.”
The firm said it was committed to the region where demographic trends, wealth creation and evolving investor sophistication continue to create opportunities.
“The Hong Kong expansion reflects Federated Hermes’ strategic focus on Asia’s wealth and retail distribution segments, where the firm sees significant opportunity as client portfolios grow more sophisticated and distribution models shift towards long-term partnership,” the firm stated.
“The firm works to align its investment capabilities, research insights and global networks with the evolving needs of wealth clients navigating increasingly complex market environments.”
After the announcement, the company said it will focus its efforts this year on securing licensing approval from the Hong Kong Securities and Futures Commission (SFC) and completing the required registrations.
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