New York-based niche market broker-dealer and custodian, Swiss American Securities (SASI) – a member of the Credit Suisse Group – has appointed Richard Surrency, a veteran of the securities industry in Asia, to head business development in the region.
SASI says it has served clients in Asia Pacific for more than 10 years, but is eager to increase its client base in the region.
Surrency joined SASI in October 2004 as Vice President of Sales, following roles as Vice President EMEA and Vice President Asia Pacific with RBC Global Services. Raised and educated in Hong Kong, Surrency has worked for Reuters Hong Kong and managed operations for Thomson Electronic Settlements Group across Hong Kong, Australia and Singapore as well as his time at RBC.
SASI aims to differentiate itself from competitors in the region through an integrated offering that includes custody, brokerage and securities lending. The bank will focus on serving small and medium private banks, online brokers and specialist divisions within larger traditional banking groups in Singapore, Hong Kong, Taiwan, Malaysia and Australia.
Surrency says he believes SASI’s positioning is ideal for Asia Pacific investors. “The Asian crisis and dotcom crash that followed saw many institutions pull out of Asia Pacific, leaving a dearth of high quality service providers in the region,” he says. “SASI already gains a significant share of its business from Asia Pacific and our clients there appreciate our long term commitment and the strategic support of Credit Suisse Group in the region.”
Surrency will be based in Singapore. He can be contacted via SASI’s head office in New York.