SYZ Asset Management has closed its Hong Kong office due to a shift in its business activities focus, a spokesperson has confirmed to Citywire Asia.
The Swiss asset manager has pulled out of the Asian region. ‘We have decided to center out activities in Geneva and concentrate on continental European markets’, the spokesperson said.
‘As a consequence, the Hong Kong office was closed at the end of 2016 and Suzanna Wong, the head of sales, left the company at that time.’
The spokesperson also said that although the fund house’s OYSTER Luxembourg SICAV funds range will not be distributed in Hong Kong in its current form, clients will be served and followed from the firm’s headquarters in Geneva.
‘Additionally, M. Nico Cacciabue, head of key accounts and his team, will be responsible for the firm’s key accounts and global consultants,’ the spokesperson said.
The fund house set up its Hong Kong office back in 2007. It has not established any other offices in the Asian region.
SYZ AM also does not have a wealth management representative office in Asia.