Globaleye has named Byron Murphy, a seasoned expat advisory executive who has largely focused on the high-net-worth expatriate market in Southeast Asia, to succeed Scott Balsdon as managing director (global) of the company.
Murphy, pictured left, who is British, has been based and licensed in Singapore for the past 17 years, where he has most recently been heading up Globaleye’s private wealth management proposition in that market, Globaleye said in a statement on Monday.
He will remain based in the Singapore office, which is the company’s Asia hub, and the appointment is effective immediately.
Murphy holds the Certified Financial Planner accreditation, and is “committed to both personal and professional development”, Globaleye said, in announcing his appointment.
Globaleye noted that Murphy takes on the MD role, which sees him taking charge of and developing Globaleye’s international business, at a time when the company is in the process of shifting towards “a new transparent, fee-based business model”.
As reported, Balsdon left Globaleye earlier this year after four-and-a-half years as its managing director to take a role as a non-executive director with another well-known Dubai-based advisory firm, Holborn Assets.
Globaleye chairman Tim Searle said Murphy’s track record, experience and contacts in the industry were “second to none” and would prove “vital”as the company carried out its “ambitious plans” to grow and develop its business.
Globaleye was founded in 1999, and currently has more than 15,000 clients, who have around US$2bn in assets under management with the firm. It operates out of 10 offices, which, in addition to its Dubai headquarters, include Abu Dhabi, Doha, Geneva, Moscow, Singapore, Kuala Lumpur, Hong Kong, Ho Chi Minh City and Manila.
As reported, last year it unveiled a new asset management platform called AEON, in partnership with the UK-based asset manager Quilter Cheviot and New York-based Fidelity. The AEON platform is now available to Globaleye clients across the Middle East, Asia and Europe.
Searle has been among a number of financial advisory industry executives who have been saying the industry has needed to change – and who have been overseeing changes in their firms. In March he outlined his strategy, explaining that he saw it in part as a matter of “fixing the risk profile problem”.