US asset manager Federated Hermes has opened its office in Hong Kong, after two years of preparation, joining a wave of international financial giants competing for growth in the Asia-Pacific region.
The company, which managed US$884 billion worth of assets as of September, considered a Hong Kong office two years ago and its board approved a plan a year later. Its office in the Nexxus Building in Central adds to its Asia-Pacific footprint in Singapore, Tokyo and Sydney.
“Hong Kong is a premier wealth and asset-management hub,” said Jim Roland, head of business development in Asia-Pacific and Australia for Federated Hermes, on Wednesday. “Opening our Hong Kong office helps deepen our relationships with private banks, family offices, wealth intermediaries and institutional investors and is an important step in our long-term regional growth strategy.”