Brown Brothers Harriman has announced the launch of its Trust company in Hong Kong, and named the new head of the Greater China focused business.
The Brown Brothers Harriman (BBH) announcement follows the 2015 launch of China’s Mutual Recognition of Funds (MRF), a cross-border initiative that opens a new channel for mutual fund investment into and out of Mainland China.
Gabriel Cheung has been appointed to lead the Hong Kong Trustee business, reporting to Scott McLaren, Head of BBH Hong Kong and Boston-based Matthew Heffernan, Senior Vice President of Institutional Trustee Services for Brown Brothers Harriman.
Strong Product Knowledge
Cheung joined BBH in January from HSBC Institutional Trust Services where he served as Senior Manager of Trustee and Fiduciary Services.
Prior to his time at HSBC, he was Associate General Counsel at AIA Pension and Trustee in Hong Kong. Cheung will add a wealth of expertise to the new entity including his knowledge of a wide range of Securities & Futures Commission (SFC)-approved fund products including ETFs, REITS and pension schemes.
Greater China Push
Brown Brothers Harriman Hong Kong Trustee Services will provide trustee and depositary services to asset managers looking to establish Hong Kong-domiciled funds.
«Since the launch of MRF, global fund sponsors have the potential to reach investors in Mainland China through Hong Kong-domiciled funds, from a provider perspective, this is a big change. As a cross-border specialist, BBH is well placed to deliver a high quality value proposition to the Hong Kong market,» said McLaren.
