Bing Li Partners with Cutwater Asset Management; U.S. Firm Also Obtains QFII
ARMONK, N.Y. -- February 4, 2013
Cutwater Asset Management, one of the world’s largest fixed income investment
management firms, announced a partnership agreement with noted Hong
Kong-based, Chinese financier, Bing Li, Director of Li Brothers Holding Ltd.,
who will now function as a trusted partner and act on behalf of Cutwater in
all dealings with major Chinese institutions.
Clifford D. (Cliff) Corso, CEO and Chief Investment Officer of Cutwater, said
about his new association with Bing Li, “This partnership with Bing Li, who
has been a long-time business associate, will provide Cutwater with a trusted
partner with on-the-ground access and insight into the Chinese capital markets
and we look forward to long and fruitful relationship of trust for both
Cutwater and Bing.”
Bing Li, U.S. educated at Rutgers University, speaks, reads and writes both
Chinese and English. He has wide experience beginning with various managerial
positions at HSBC Securities in New York, a seven-year tenure that began with
an internship. He also had experience working in London and in Hong Kong for
JP Morgan Securities (Asia Pacific) Limited and Deutsche Bank Group. He also
was a managing director at Tandem Global Partners, www.cutwater.com.
Cutwater has also been recently awarded a qualified foreign institutional
license (QFII) by the China Securities Regulatory Commission.
Cliff Corso, CEO and Chief Investment Officer of Cutwater Asset Management,
said of the firm’s QFII licensing: “We are gratified with the quickness with
which we were able to obtain the necessary licensing allowing Cutwater access
to the world’s second largest economy’s capital markets. It also provides
access to Chinese clients wishing to invest outside China. The QFII licensing
and our partnering with Bing Li are important milestones for Cutwater.”
QFII now permits licensed foreign investors to buy and sell yuan-denominated
“A” shares in China’s mainland stock exchanges (in Shanghai and Shenzhen).
Chinese mainland stock exchanges were previously closed off to foreign
investors due to China’s tight capital controls of the movement of assets
in-and-out of the country.
By establishing the QFII program in 2002, China began the process of opening
its capital markets to foreign investors. In 2012, China continued its opening
up by increasing its QFII quota from $30 billion to $80 billion and signaled
its intentions to loosen its strict capital controls, liberalize its capital
accounts and further internationalize its currency.
Cutwater Asset Management is a client-focused and solutions-based investment
advisor focused exclusively on fixed income investments. With over $30 billion
in assets under management, Cutwater Asset Management is one of the largest
institutional fixed income investment managers in the world. Cutwater's model
combines world-class investment expertise and risk management capabilities
with exceptional client service, in-depth consultation, and extensive
interaction between clients and the investment team. Our investment philosophy
is focused on delivering consistent and superior risk-adjusted returns by
taking a long-term view of the market and applying a counter-cyclical and
forward-looking approach to capital allocation. For more information, please
visit our website at www.cutwater.com.
About Li Brothers Holding Ltd.
Li Brothers Holdings Ltd. (LBH) is a Hong Kong-based company which provides
consulting services to foreign institutions across various industries and
markets in Asia, with experience in cities including Hong Kong, Beijing,
Shanghai and Singapore. Our team consists of specialized professionals in
corporate finance, global capital markets, accounting and marketing. LBH takes
pride in providing extensive knowledge in each respective market and industry
while assuring clients with quality service and assistance.
The Dilenschneider Group
Fred Bona, 973-886-2395
Li Brothers Holding, Ltd.
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