Fund administrator Custom House Global Fund Services has expanded its Chinese presence with the opening of a Shanghai office.
In addition, the firm has also appointed Sunny Huang in the role of relationship manager with specific responsibility for additional business development and collaboration.
Custom House, which holds $20 billion in assets under administration, already has a presence in Shenzhen.
“Our continued growth in China supports investor’s desire to gain immediate access to a financial services centre perfectly suited to meet the demands of those who are looking to venture into the global financial markets,” said Mark Hedderman, CEO of Custom House
Huang joins Custom House from her role as client advisor assistant at UBS AG in Hong Kong.
“We are excited about the opening of our new office and having Mrs. Huang on board to strengthen our partnership with our valued clients and provide a local presence for quality fund administration solutions to clients in the Shanghai region managing offshore funds,” said Tony Kan, managing director of Custom House Fund Services Hong Kong.
The latest development represents a further example of how Chinese markets are opening up to foreign investment.
Speaking to Global Custodian this week, HSBC’s head of China sales and business development, EMEA, securities services, Florence Lee revealed how the Chinese market is becoming more liberal in order to attract institutional investors.