$132 Billion Swiss Asset Manager GAM Investments Setup Singapore Office, Hires Terence Bong as Head of Singapore
27th May 2021 | Hong Kong
Swiss Asset Manager GAM Investment with more than $132 billion AUM has setup a Singapore office, strengthening its presence in Asia-Pacific and hired Terence Bong, former Head of Wholesale for Southeast Asia at Templeton Asset Management, to head the Singapore office. (AUM ~ Assets under Management)
“$132 Billion GAM Investments Setup Singapore Office, Hires Terence Bong as Head of Singapore”
GAM Investment, $132 billion AUM
GAM Investment is founded in 1983, headquartered in Zurich (Switzerland) and listed on Swiss Exchange. The Group manages more than $132.3 billion AUM (31/3/21) and is in 14 countries with investment centres in London, Cambridge, Zurich, Hong Kong, New York, Milan and Lugano and now Singapore (15 countries).
In Asia-Pacific, with the setup the Singapore office, GAM Investment will now have 4 offices in Hong Kong, Tokyo Sydney and Singapore.
GAM Investment is an independent, pure-play asset manager, providing active investment solutions and products for institutions, financial intermediaries and private investors. GAM Investment also provides private labelling services, which include management company and other support services to third-party asset managers.
Terence Bong, GAM Investment Head of Singapore
Terence Bong, as the Head of Singapore office, will be leading clients activities for Singapore and Southeast Asia. He was formerly Head of Wholesale for South East Asia at Templeton Asset Management, where he was responsible for fund distribution to private banks, independent financial advisors, insurance companies and consumer banks across Singapore, Thailand and the Philippines.
Before Templeton Asset Management, Terence was with Nikko Asset Management, Schroder, Aviva and Citibank.
Singapore – More than 1,000 fund managers and $2.96 trillion assets
Singapore is one of the leading financial centre and leading asset management hub in the world and in Asia with more than 1,000 fund managers domiciled in Singapore.
In the 2019 MAS Asset Management Survey, Singapore reported $2.96 trillion managed assets (S$4 trillion) or 3.3% of global managed assets ($89 trillion).
2019 Key Statistics
- More than 1,000 licensed & regulated asset managers (2021)
- Global AUM – $89 trillion
- $2.96 trillion / S$4 trillion
- Alternatives – $538 billion
- Private Equity – $181 billion
- Hedge Funds – $148 billion
- REIT – $94 billion
- Real Estate – $105 billion
- Venture Capital – $8.2 billion
- Collective Investment Scheme – $95 billion
- Singapore global share of ESG managed assets 28% (2019)
- Global ESG fund assets total $1 trillion (July 2020)
- Almost 300 Private Equity and Venture Capital managers based in Singapore (2019)
Southeast Asia, $3.1 trillion GDP, 650 million
Southeast Asia has more than 650 million population and a combined GDP of more than $3.1 trillion.
GAM Investment Head of APAC, Rossen Djounov:
“We are excited to welcome Terence to GAM, who brings deep experience of Singapore and the South East Asia region.
His appointment underscores our commitment to providing the best service to our clients and to providing them with investment leadership, innovation and sustainable thinking to protect and enhance their financial future.”
GAM Investment Group CEO, Peter Sanderson:
“The establishment of an office in Singapore, together with Terence’s appointment, represents an important strategic step for the firm.
We are planning to grow our business in Asia, including by responding to growing client demand for sustainable solutions in the region.”
Related:
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- Hong Kong Private Equity Funds to Have 0% Tax for Carried Interest
- Indonesia President Jokowi Targets $200 Billion Sovereign Wealth Fund
- New Indonesia Sovereign Wealth Fund Grows Assets to $15 Billion, Appoints First CEO
- $342 Billion Investment Firm KKR Raises $15 Billion for Asia Fund
- Top Hedge Fund Manager and Billionaire Ray Dalio Setup Family Office in Singapore
- UBS Releases 2020 Sustainability Report & Sharp Rise in Sustainable Investment to $793 Billion
- $562 Billion Asset Manager Aberdeen Standard Investments Appoints René Buehlmann as New APAC CEO
- $1.5 Trillion Asset Manager Franklin Templeton Launches Investment Institute
- $2 Trillion Asset Manager Amundi to Buy $147 Billion ETF Pioneer Lyxor for $978 Million
About GAM Investment
GAM is a leading independent, pure-play asset manager. The company provides active investment solutions and products for institutions, financial intermediaries and private investors. The core investment business is complemented by private labelling services, which include management company and other support services to third-party asset managers. GAM employed 701 FTEs in 14 countries with investment centres in London, Cambridge, Zurich, Hong Kong, New York, Milan and Lugano as at 31 December 2020.
The investment managers are supported by an extensive global distribution network. Headquartered in Zurich, GAM is listed on the SIX Swiss Exchange with the symbol ‘GAM’. The Group has AuM of CHF 124.5 billion (USD 132.3 billion) as at 31 March 2021.
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