The Securities & Futures Commission of Hong Kong has given regulatory approval to Global Prime Partners, a provider of prime brokerage, execution and clearing services to all classes of professional investors.
GPP says it will now begin trading from its new Hong Kong office, headed by Alastair Sclater, formerly of Newedge and UBS. It will provide execution and prime brokerage services to Asian based fund managers, family offices and professional traders.
GPP says its growth in revenue of over 30 percent during the last 12 months, combined with the HK opening, reflects growing investor demand for its highly personalised prime brokerage and trading services. These services are aimed at the smaller to medium sized fund managers, who more and more are being overlooked by banks and the larger broking firms.
Chief executive Julian Parker 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.”
