Wealth Manager Beefs Up in Asia
Hong Kong-based wealth manager Navicom International will expand its business in Asia and open a second office serving rich clients in the fast-growing region.
Navicom International Investment plans to open an office in Singapore towards the end of this year after receiving a capital markets license from the Monetary Authority of Singapore, the company said in a statement. Navicom is an independent provider of alternative investments and wealth management services.
Navicom currently operates out of New York and Hong Kong. The management of the Singapore office will be selected from the companies existing executive team.
«Launching our new office in Singapore presents us with a compelling opportunity to enhance our platform throughout the Asia-Pacific region,» said Alistair Mitchell, the chairman of Navicom. «The benefits presented by Singapore's stable financial system will attract the interest of families who are looking to preserve wealth under the favorable terms presented by the trust incorporation and legal processes in place.»
