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FSDC holds forum on asset management (with photos)
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The following is issued on behalf of the Financial Services Development Council:

     The Financial Services Development Council (FSDC) and the Faculty of Business and Economics of the University of Hong Kong jointly hosted a forum today (February 22) to give university students a better understanding of the development of and career opportunities in the asset management industry.
 
     Entitled "Development and Career Opportunities in Asset Management", today's  forum was the 17th event in the FSDC's Practitioner Speaker Series. The forum featured the Executive Director, Operations, Asia Pacific JP Morgan Asset Management, Mr Nicholas Koo, and the Executive Vice President and Head of Asset Management of AVICT (HK) Limited, Mr Philip Lau.
 
     With over 26 years of experience in the industry, Mr Koo said, "The asset management operation team supports a niche business in a first-class way. It is the 'engine room' of the investment management business, with essential cultural and language sensitivity; is highly adaptable to support new product features and business models on a timely and mission-critical basis; and operates under a very strict risk control and regulatory compliance environment."
 
     To be successful, he encouraged students to fulfil their potential. "Operation is often defined as an essential service supporting routine and standardised processes. However, I define operation as an SME, which means 'Subject Matter Expert' supporting product innovation. You must be at the forefront of the industry in terms of levels of professionalism, innovation and technical expertise. What do you think of when you hear the word 'change'? It means opportunities," he added.
 
     Mr Koo also described the life cycle of an operation in the investment management business, and showed how an SME in operation can be switched to a different line of business.
 
     Mr Lau has over 30 years of experience in the financial industry. He gave a general overview of the fund industry and analysed the changes that come with the new technological development and increased participation of Mainland fund managers in the Hong Kong market. He also introduced the most common types of financial assets in the markets, summarising different fund strategies and explaining their risk reward characteristics. He led the students to understand that different fund investment strategies require different kinds of expertise from fund managers. He also briefed them on the license required to conduct an asset management business in Hong Kong and the growing trend of asset management companies being set up by wealth/asset manager to serve high net-worth individuals.
 
     The FSDC's Practitioner Speaker Series is a project developed between the FSDC and local universities, with speakers from the financial services industry giving talks to university students about important industry facts and the skill sets required in developing a career in financial services.
 
About the FSDC
 
     The Hong Kong Special Administrative Region Government established the FSDC in 2013 as a high-level, cross-sectoral advisory body to engage the industry in formulating proposals to promote the further development of Hong Kong's financial services industry and to map out the strategic direction for development.
 
     The FSDC set up five committees, namely the Policy Research Committee, the Mainland Opportunities Committee, the New Business Committee, the Market Development Committee and the Human Capital Committee, as the five streams of its work.
 
Ends/Wednesday, February 22, 2017
Issued at HKT 17:00
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Today's Press Releases  

Photo

The Financial Services Development Council and the Faculty of Business and Economics of the University of Hong Kong jointly held a career forum entitled "Development and Career Opportunities in Asset Management" today (February 22). Photo shows the Executive Director, Operations, Asia Pacific JP Morgan Asset Management, Mr Nicholas Koo, introducing career opportunities in the asset management industry to the participants.
The Executive Vice President and Head of Asset Management of AVICT (HK) Limited, Mr Philip Lau, gave participants a general overview and spoke about career opportunities in the asset management industry at a career forum entitled "Development and Career Opportunities in Asset Management" today (February 22).