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Singapore-based asset management firm Paragon Capital Management opened its first overseas office in Hong Kong, joining a growing number of foreign money managers in tapping more wealthy clients in the financial hub.
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The firm, which manages S$1.2 billion (US$880 million) in assets, has received a license for activities from the Securities and Futures Commission, it said in a statement on Tuesday. That will allow Paragon to provide a comprehensive range of services to clients in the Greater China region.
The Hong Kong team will serve as a “bridge connecting clients across North Asia and Southeast Asia”, said Paul Lee, co-founder, CEO and chief investment officer of Paragon. Hong Kong makes an ideal wealth management hub, the firm said.
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