ComplianceAsia has hired Kirat Sidhu to run its office in Singapore after CEO and founder Philippa Allen moved to Hong Kong.
Sidhu is a Singapore-based lawyer who used to work for Lend Lease and local law firm Colin Ng.
Allen, who founded ComplianceAsia in 2003, has relocated to ComplianceAsia's Hong Kong office, where the day-to-day management is undertaken by Alex Duperouzel.
There are 28 people working for the firm in the two cities. Ten of those are case officers based in Hong Kong. Philippa Allen’s new job will see her take on cases involving legal grey areas. Otherwise the team handles routine compliance duties.
Compliance is a headache for new funds worried about having to deal with all the rules. But, perhaps surprisingly, ComplianceAsia doesn’t target start-ups. Its business is serving larger local hedge funds and multinationals.
The costs of having a service like this start at about $1,000 per month and rise to about $5,000, depending on the level of compliance.