November 03, 2016 | Mandarin Oriental, Hong Kong

INDEPENDENT ASSET MANAGERS & FAMILY OFFICES

LEADERS CONVERSATION

In partnership with

ADVISORY COUNCIL

Ann CooleyChief Executive O�cerPacific Hawk

Anthonia HuiChief Executive O�cerAL Wealth Partners

Charlie O’FlahertyHead of Digital Strategy & DistributionCrossbridge Capital

Harry PangFounding Partner & CEOFountainhead Partners

Harmen OverdijkManaging PartnerCaidao Capital

Jason LaiCEO and FounderThirdRock Capital

Jessica CutreraFounder, Managing Director and Head of Operations & Compliance EXS Capital

Kenneth HoManaging PartnerCarret Private

Leonardo DragoChief Investment O�cerAL Wealth Partners

Mandeep NalwaFounder and CEOTaurus Wealth Advisors

Mike ImamCo-Founder & Chief Executive Silverhorn Investment Advisors

Noor QuekFounder & CEONQ International

Peter LeeChief Executive O�cerLa Vintoll Capital Management

Philippe LegrandChief ExecutiveLondon & Capital Asia

Riccardo LehmanManaging DirectorSwiss-Asia Asset Management

Stephan RepkowFounder and CEOWealth Management Alliance

Urs BrutschManaging Partner & FounderHP Wealth Management

Vinit SarangdharCEOAlpha Quest

Yai SukonthabhundPartner and CEOCrossbridge Capital

Registration and Co�ee8:45am – 9:10am

9:10am – 9:15am Opening Comments

Sebastian Enberg, Editor, Asian Private Banker

Leaders Conversation Panel 1

Today, independent asset managers/family o�ces manage in the range of 5% of the region’s wealth in Hong Kong and Singapore. Industry leaders predict that this figure will double in time, but also acknowledge that key challenges remain. Notably, the fees for advice model remains a tough sell to clients who are used to receiving free advice, and firms that are unable to charge 100 bps on assets managed must rely on alternative fee structures to generate revenues in a di�cult market environment. Add in regulatory uncertainty – particularly with regards to the use of retrocession payments – and achieving profitability as an ‘independent’ player is today a tall order. This panel confronts the key hurdles facing IAMs in Asia and asks what concrete steps can be taken to increase their share of the region’s AUM in a profitable manner.

Moderator:

Sebastian Enberg, Editor, Asian Private Banker

Conversation catalysts:

Ann Cooley, Chief Executive O�cer, Pacific Hawk

Harry Pang, Founding Partner and CEO, Fountainhead Partners

Philippe Legrand, Chief Executive, London & Capital Asia

Riccardo Lehmann, Managing Director, Swiss-Asia Asset Management

9:15am – 9:55am

PROGRAMME

Networking Co�ee Break10:35am – 11:00am

Workshop Discussion 1

European stressed and distressed debt – a growing opportunity

European bank balance sheets doubled in the decade prior to the financial crisis. This led to a sharp expansion of non-performing loans in the following years as the European economic recovery failed to materialize. Continued quantitative easing and an enhanced regulatory framework may compel European banks to recapitalize and dispose of non-performing loans.

The refinancing requirements of debt issued pre-crisis, coupled with the record level of CCC debt issued post-crisis, points to a growth in stressed and distressed credit opportunities in Europe. Fallout from the UK’s vote to leave the EU has led to increased uncertainty and price volatility, enhancing opportunities to acquire mispriced assets.

Moderator:

John DelGiudice, Senior Vice President, Portfolio Specialist, Alcentra

9:55am – 10:35am

Workshop Discussion 2

Four key themes defining the future of asset management globally – seeking opportunities from disruption

M&G discusses the changing landscape for asset managers globally. Focusing on the key catalysts of change; the GFC, regulation, demographics and the use of technology in distribution, the session stresses the need for the industry to evolve its product proposition and distribution strategy for today’s demanding global client set. Calling upon experience of emerging distribution trends from across the world, the workshop will share M&G’s experiences from intermediary and client consultations since the GFC, and explain how changing behaviours are drastically changing the traditional manufacturing and consumption of financial products.

Moderator:

Jonathan Willcocks, Managing Director, Global Head of Retail Sales, M&G Investments

11:00am – 11:40am

Leaders Conversation Panel 2

IAMs’ Alternative Edge

Lower returns, sustained uncertainty and bouts of turbulence are the new norms of investing in a world where economies are undergoing structural transformation and central banking policies are moving into unchartered territories. Sole dependence on liquid capital markets or plain vanilla long-only instruments will unlikely generate sound returns without taking on excessive risk. By one account, a portfolio in 2004 could generate 4% returns with 85% and 15% allocated to fixed income and equities, respectively. Today, half a portfolio would need to be allocated to equities to achieve the similar gains but with double the volatility. Consequently, global investors are actively allocating to alternatives – whether through hedge funds to diversify away from pure long-only exposure, or via private equity. Indeed, the demand for private equity among Asian HNWIs – and especially Chinese investors – is vigorous as ever.

IAMs looking to o�set a slowdown in flow trades and to help clients achieve attractive risk-adjusted returns are today seeking out alternative solutions. And with critical mass and truly open architecture platforms, IAMs have both the access and capabilities to create a platform with breadth and independence. This panel explores how IAMs are meeting client demand for alternative strategies, and how clients are reacting to IAMs’ initiatives in this space relative to the o�erings of incumbent global financial players.

Moderator:

Richard Otsuki, Senior Reporter, Asian Private Banker

Conversation catalysts:

Harmen Overdijk, Managing Partner and Founder, Caidao Wealth

Jessica Cutrera, Founder, Managing Director and Head of Operations & Compliance, EXS Capital

Peter Lee, Chief Executive O�cer, La Vintoll Capital Management Limited

11:40am – 12:20pm

MODERATORS

Jonathan WillcocksManaging Director, Global Head of Retail SalesM&G Investments

Jonathan Willcocks joined the industry in 1986, beginning his career with Hambros Bank in the Investment Management Division. Having moved into Investment Sales from Hambros, he joined Prolific as Regional Sales Manager in 1993 responsible for marketing mutual funds to intermediaries in East Anglia and West Midlands. Following the merger with Aberdeen in 1997, he became Investment Sales Director, having additional responsibility for clients in London and Switzerland. He moved to US investment house MFS in 2001 as Sales Director, responsible for sales into UK and Scandinavia before joining M&G Investments in February 2005 where he is now Managing Director for Global Retail Sales. His current responsibilities include being a board member, distribution strategy and overseeing all sales channels in the UK, Europe, Middle East, South Africa and Asia. Jonathan is also a Fellow of the UK Securities Institute, and a Chartered Wealth Manager. He also now sits on the UK IA Investment Funds Committee.

Richard OtsukiSenior ReporterAsian Private Banker

Richard joined Asian Private banker in 2012, where he covers a multitude of facets in Asia’s private banking industry including asset management, capital markets and recruitment.

Richard graduated from Hong Kong Baptist University with a Bachelors of Arts in English Literature with a specific focus on postmodern literary theory. In his spare time, Richard is an avid fan of basketball both as a player and spectator.

John DelGiudiceSenior Vice President, Portfolio SpecialistAlcentra

John joined Alcentra in January 2012 and is Senior Vice President and Portfolio Specialist, based in Hong Kong. John has responsibility for business development for the Asia Pacific region. He was formerly in a similar role, based out of Singapore. Prior to that, he was head of Alcentra Product Management and Investor Relations for the US, based in New York City.

Prior to joining Alcentra, John spent two years at Toussaint Capital Partners working in investment grade Debt Capital Markets on the syndicate team, focusing on institutional distribution. During his time with Toussaint, he also worked on the Fixed Income Sales & Trading desk, covering rates, agencies, money markets, and structured products.

John started his career in the Institutional Sales division of Merrill Lynch in New York, where he spent two years focusing on relationship management, cross-product marketing, and corporate strategy.

John graduated from Wesleyan University with a Bachelor of Arts degree in Economics and holds two licenses with the Securities and Futures Commission of Hong Kong.

Sebastian EnbergEditor Asian Private Banker

Sebastian is the Editor of Asian Private Banker. His background is in international politics, and Chinese foreign policy and security.

Sebastian graduated from Victoria University of Wellington with a Master of Strategic Studies majoring in Strategic Intelligence, and more recently, from the City University of Hong Kong with a Master of Arts. In 2012, Sebastian was awarded the university’s Top Scholar Prize for his cohort.

CONVERSATION CATALYSTS

Ann Cooley founded Pacific Hawk (HK) Limited in 1997. The company is a multi-family o�ce which provides financial and legal solutions for families and professionals. She specializes in managing sensitive and complex family financial issues and also acts as a family mediator between families. Ann has been managing the assets and investments of clients for several generations.

Ann began her career in banking with JP Morgan NYC and Nat West Bank in London, where she specialized in cash management, corporate finance and private banking where she managed client assets. She later became the MD of Global Money Placement Ltd, a venture capital/private equity company for European families. Ann is a founding partner of St. James Place Wealth Management (UK), formerly J. Rothschild Assurance.

Ann holds a B.A. degree from the College of Business, University of Colorado. She is a Juris Doctorate graduate at the Faculty of Law, the Chinese University of Hong Kong. Ann is a qualified Family Mediator (HKIAC) and the Treasurer of the Hong Kong Collaborative Practice Group (HKCPG). Ann is a member of the Financial and Treasury Services Committee of the HKGCC. She is also a CFPCM professional. She is a keen golfer and is fluent in Cantonese and Mandarin.

Ann CooleyChief Executive O�cerPacific Hawk

Harmen Overdijk, CFA, is a founder and managing partner of Caidao Wealth, an independent asset management company based in Hong Kong o�ering global and Asia-specific investment strategies to international investors. He is responsible for the investment policy at Caidao Wealth.

Before starting Caidao he was head of investments, Asia-Pacific for EFG Asset Management, having joined EFG in 2008 from Fortis Bank. At Fortis Bank, Harmen was regional head of investments and deputy general manager for private banking in Asia.

He originally joined MeesPierson, which later became Fortis Bank, in 1998 as investment analyst, becoming chief investment o�cer of MeesPierson Asia in 2002, and global head of research for Fortis in 2005 before returning to Hong Kong in 2006.

Harmen graduated from Tilburg University in the Netherlands with a Master’s degree in financial economics and is a chartered financial analyst.

Harmen OverdijkFounder & Managing PartnerCaidao Wealth

Harry PangFounding Partner and CEOFountainhead Partners

Harry Pang has over 20 years of investment management and entrepreneurial experience. He is the founding partner and CEO of Fountainhead Partners, a Hong Kong based multi-family o�ce, focused on global multi-asset class investing. Prior to founding Fountainhead Partners, from 2011 to 2015, he was the head of UBS’ Ultra High-Net-Worth China business, managing a team of relationship managers and overseeing the China strategic development and wealth management segment. From 1997 to 2011, he worked at Morgan Stanley Asia and was one of the top investment advisors for the Private Wealth Management business, where he managed over US$8 billion in assets. He holds a MBA from New York University’s Stern School of Business.

Jessica is a Founder, Managing Director and the Head of Operations & Compliance of EXS Capital. She oversees all aspects of financial and operational control as well as regulatory compliance for the firm. She helps to lead the firm’s investment committee and is active in promoting the independent asset manager business model in Hong Kong. She is an expert in many areas of corporate and individual financial, regulatory and tax issues, particularly in regards to Americans living in Asia.

Jessica also manages an American-oriented wealth management practice in Asia. She and her team specialise in providing comprehensive wealth management and planning services to US citizens expatriated in Asia and to persons and corporations with US related planning needs. Over the last twelve years, Jessica has built this asset management practice into a comprehensive financial, tax and estate planning service, with an active presence across Asia-Pacific.

Prior her role in Asia, Jessica worked for Charles Schwab. She continues to be licensed in the US today as an independent advisor a�liated with a US broker dealer and US financial planning firm and insurance agency. Jessica is also licensed with the Hong Kong Securities Commission for Activities Type 4 (Advising on Securities), Type 6 (Corporate Finance) and Type 9 (Asset Management) and is a Responsible O�cer for EXS Capital Asia Limited, a Hong Kong SFC-licensed company. Jessica is licensed for insurance planning with the Confederation of Insurance Brokers (CIB) in Hong Kong.

Jessica CutreraFounder, Managing Director and Head of Operations & ComplianceEXS Capital

Peter LeeChief Executive O�cerLa Vintoll Capital Management

Peter Lee is CEO of La Vintoll Capital Management, an independent asset management and wealth management company and a member of D&R Asset Management Group. D&R is a pan-Asia asset management company listed on the Shenzhen Stock Exchange.

Most recently, Peter was the head of Asia of a 40+ year old Swiss multi-family o�ce. He was based in Hong Kong in providing multi-family o�ce solutions including succession planning and asset management solutions to HNWI clients worldwide. In 2015, he was instrumental in establishing the first Sino-Foreign owned multi-family o�ce in China.

Peter has also worked in a Hong Kong family o�ce and managed over US$300 million of private investments. In his 15-year experience in private equity investments in Asia, he has managed a total of US$600 million and his portfolio generated over 50% IRR. He has extensive experience in both primary and secondary private equity investments.

Peter currently serves on the executive board of The Hong Kong Foreign Financial Institutions Association. He is a member of Hong Kong Institute of Directors and a member of Hong Kong Securities and Investment Institute. He is also a committee member of Hong Kong Venture Capital & Private Equity Association and the Deputy Secretary General (Accounting Committee) of Guangdong’s Association for Promotion of Cooperation between Guangdong, Hong Kong & Macau.

He is an Adjunct Professor in a local Hong Kong university and holds a degree majoring in economics and finance from the University of Sydney.

Riccardo LehmannManaging DirectorSwiss-Asia Asset Management

Riccardo joined Swiss-Asia in March 2015 and is a German national who is lives in Hong Kong and in charge of Swiss-Asia Asset Management in Hong Kong.

He worked for UBS in Germany and Austria and later in Singapore before joining Swiss-Asia in 2015. During his tenure at UBS, he has acquired extensive experience as a Relationship Manager in the external wealth management space.

Riccardo completed his Certificate as a Certified Banking Specialist in Private Banking at the Banking Academy in Frankfurt, Germany.

He is a Committee Member of the Association of Independent Asset Managers (AIAM) in Hong Kong.

Philippe LegrandCEO and FounderLondon and Capital Asia

Philippe is CEO and founding partner of London & Capital Asia, an award winning multi-family o�ce that services high net worth clients as a one stop solution for all their financial needs in either wealth management or corporate advisory for their family business. He has accumulated 30 years of senior management experience with international banks in private, corporate and investment banking. He developed the Asian private banking platform for Rabobank/Sarasin in the late 1990s and subsequently headed the private banking North Asian operations of ABN AMRO. He was previously deputy CEO of BNP Paribas Wealth Management, North Asia, a group for whom he worked for over 13 years. Based in Hong Kong since 1995 he has also worked in Europe, North America and India; Philippe is a regular speaker at wealth management and asset management conferences in Asia as well as being a judge for awards within the industry.

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