Hong Kong Veteran Cheah Joins Rush to Tap Singapore Wealth
- Value Partners is planning to hire staff in Singapore
- Competition for talent is growing at Asian financial hubs
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One of Hong Kong’s highest-profile money managers is preparing a major expansion in Singapore, the latest win for the city-state as competition between Asia’s most important financial hubs intensifies.
Cheah Cheng Hye, co-chairman of Value Partners Group Ltd., said his firm plans to hire people and relocate some of its portfolio managers and investment analysts to the island, where it now has fewer than 10 staff. The concentration of family offices in Singapore is the main attraction that he says demonstrates the country can grow beyond its current sales and distribution role for his company.