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Upon opening, the firmÆs new Beijing office will serve clients around the capital of China and nearby city Tianjin for its full suite of investment management products. It also marks the second foray for DSTi into the China market, where it opened an office in Shanghai in 2004.
ôWe felt the need to open an office in the capital city in order to better service and support our existing clients in Beijing and Tianjin,ö says Rhonda Lepsch, DSTiÆs Hong Kong-based chief executive officer for Asia. ôFurther, given the frequent advances and changes in China market practice, having a presence in the capital city will allow us to further strengthen relationships with both regulators and key industry participants.ö
Since opening in Shanghai three years ago, DSTi has signed on 10 clients in China, from sectors including the domestic asset management and life insurance space. In actuality, the company picked up its first client in 2001 in this market and expects that its current client base in China will grow exponentially in the coming years.
ôFor us, China presents the best growth prospects in the region and weÆve dedicated roughly 3,000 days of research and development for this market on things like multi-lingual requirements and specially developed regulatory reporting functions,ö says Lepsch. ôBy 2010, weÆd be anticipating a 400% growth in our client base in China.ö
At the present time, the Beijing office, like its Shanghai operations will be managed by Lepsch, but DSTi will look to hire a local person to manage the entire operations some time soon.
Separately, DSTi has also announced that Phillip Asset Management in Thailand has become the latest firm to begin implementation of its investment management solution, HiPortfolio/3.
With the addition of Phillip Asset Management, DSTi now has more than 40 clients in Thailand, where it opened its third regional office in 1996 and sees potential to increase its services in this market.
ôIn 2007, we hope to expand our operations here by introducing more of our solutions, including those for the front office, the middle office, mutual fund selling agents, wealth management and work flow,ö says Lepsch.
In Indonesia, the firm has also signed up Bank Internasional Indonesia (BII) to implement HiPortfolio/3 as its strategic solution for investment accounting and custody.
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