Matthews Asia has expanded its footprint with two new offices in Asia and hired a new senior executive to oversee the business in the region as it seeks opportunities to grow.
In addition to opening an office in Shanghai, the Asia-focused investment specialist has also opened an office in Singapore. It also hired Lindsay Wright as head of Asia and global chief operating officer.
The Singapore office will have an initial focus on portfolio management activities, company research and client service. Over the coming months, the company expects to make new distribution and marketing hires in Singapore and Hong Kong to strengthen its ability to service clients in the region.
“Asia remains central to the firm’s future development and long-term focus and we will continue to commit resources to support our growth strategy in the region.
“The opening of these two new offices is consistent with our global expansion efforts that began in Hong Kong eight years ago and demonstrates the potential we see in building on our existing relationships in Asia and providing a long-term commitment to servicing our clients in the region,” William Hackett, chief executive officer of Matthews, said in a statement.
Matthews has had a presence in Asia since 2010 when it opened an office in Hong Kong. Earlier in 2018, the firm established a wholly foreign-owned enterprise in Shanghai and is currently evaluating future business opportunities in China.
Lindsay Wright, who will be based in Hong Kong, said: “Matthews has made significant progress in building its brand and business in the region and I look forward to working with both the senior management teams and the local teams in Asia as we continue to develop and implement the firm’s global growth strategy.”
With 30 years of industry experience to the position, Wright was most recently the co-head of investment management and head of distribution for Asia Pacific at BNY Mellon.
Outside of Asia, Matthews is headquartered in San Francisco and has an office in London. Managing $33.9bn in client assets, it specializes in investing in Asia’s equity and fixed income markets.