Boutique asset management think tank New City Initiative (NCI) has opened a branch in Singapore.
Since its foundation in 2010, NCI said it has been vocal in the debate over the future of financial regulation, representing independent, owner-managed firms that are focused on the best interests of their clients and investors.
NCI also has an office in London and its European membership is comprised of 46 independent asset management firms from the UK, France, Norway and Switzerland, managing approximately £500bn ($648bn, €580.6bn) of clients’ money.
Partnership
Both branches in Europe and Singapore, along with their combined membership, will work with the Monetary Authority of Singapore (MAS) and the Financial Conduct Authority to open up and increase opportunities between the two markets as they share experiences and ideas.
NCI chairman Jamie Carter said: “We feel the time is now right to expand our geographical presence. Singapore has one of the most thriving asset management communities in the East.”
Key role
There are 11 founding members of NCI Singapore; which is chaired by Timothy Hay, the chief executive of Somerset Capital Management’s Singapore office.
Hay added: “NCI has established itself as a respected voice in the asset management industry and we look forward to leveraging its experience and learnings for our new NCI Singapore members.
“Owner-managed, client-centric firms play a key role in preserving the stability and long-term focus of the financial sector and we are pleased to support the important work of independent asset managers in Singapore and the surrounding region.”
