Another fund house has benefited from the closure of Syz Asset Management’s Hong Kong office with an appointment to its wholesale distribution team.
The US fund house has hired an executive from Syz Asset Management, which closed its Hong Kong office last month.
Swiss private bank Syz has called time on its asset management business in the region, closing its Hong Kong office a decade after setting it up.
Following two recent departures to Swiss firm Syz, asset manager GAM is said to be revamping its sales team in Asia with a view to putting local heads in place.
Swiss firm Syz & Co has shut an Asian fund of hedge funds with significant exposure to China, while Australia's QIC is winding down its regional quant strategy.
Daniel Ghirardi will replace them as chief executive of the fund of hedge funds, which has been renamed Syz & Co Asia and plans to grow both its institutional and retail businesses.