The bankers who want to become independent must carefully asses the regulatory challenges, Lucie Hulme, CEO at TriLake Partners in Singapore, tells finews.asia.
Mrs. Hulme, what was the specific gap in the market that you and your partners identified in establishing TriLake Partners in Singapore?
The company was established 5 years ago by a group of highly experienced professionals with successful track record in the independent asset management industry in Switzerland. We noticed years ago that the IAM model was not well known in Singapore and – to a greater extent – in Asia.
It was slowly gaining traction but there was still a need to educate people on the way it works and on the benefits this model provides. Having well established, trusted and flourishing businesses in Switzerland, the idea was simple: replicate in Asia the same quality services that we have been providing for decades in Europe.
Who are your clients?
We have a strong team covering different countries/domiciles and types of clients. Each client is unique and we are here to help them assess their needs and requirements so they can achieve their goals.
What do you see as the company’s differentiating factors to distinguish TriLake amongst competition?
We believe that the combined experience of the founders and the team is our key strength. Not only have our principals operated the business model for decades but over the years we have also developed extremely strong relationships with our business partners and clients.
«We are not working as a one-man show»
Working hand in hand with them obviously helps to achieve best-in-class services and reach the goals we have set with our clients.
We are not working as a «one-man show» but as a jointly strong team where everybody can add value. We carefully select our employees to make sure the services rendered is kept at a high standard but also to ensure the persons who will join TriLake will be part of the story for the long run to preserve the interests of our clients.
What is TriLake’s investment approach?
Whilst we may have some firm-wide investment processes and market philosophies in place, we apply a portfolio-centric approach and believe that none of the clients will have identical portfolios. Each client has a unique set of risk/return objectives and circumstances and we seek to design their TriLake portfolio, not just around these objectives and circumstances, but also around their total assets held outside their TriLake portfolio.
«We add value by shaping and clarifying the client’s investment policy»
These assets include their financial holdings, but also their human capital and real assets like property. The lofty goal is to help the client achieve an optimal single portfolio whether or not TriLake manages all or part of that single portfolio. We add value by shaping and clarifying the client’s investment policy and by constantly asking the question, «Given what our client wants to do tomorrow, what should the client’s portfolio look like today?»
Are there plans to add to the Singapore business, expand in Asia?
The team is composed of 8 full-time employees in managerial, client-facing or operational roles. We definitely have plans to expand our business but have always prioritised quality over quantity.
How do you envisage the TriLake «brand» evolving?
We believe that the first step to raise awareness is to gain respect and trust from our existing clients.
«We are open to welcoming successful bankers»
In this business, the best way to raise awareness in our target markets has always been client referrals and cultivation of centres of influence.
What are the challenges you face?
The incremental cost of doing business is mostly coming from regulatory requirements, which are high and fast changing. I believe the bankers who want to become independent must carefully asses this challenge.
More bankers will join our business model in the coming months/years for obvious reasons and they will tend to prefer to join an existing independent firm instead of starting everything from scratch knowing those challenges. We, at TriLake Partners, are always open to welcoming successful bankers with an entrepreneurial mindset.
Lucie Hulme is Chief Executive Officer and member of the Investment Committee. She was part of the founding team of TriLake Partners in 2011 and has more than 10 years of experience gained in the independent asset management and private banking industry. She is also Honorary Secretary of the Association of Independent Asset Managers in Singapore (AIAM).
Prior to joining TriLake Partners, she was a relationship manager at Société Générale Private Banking (Suisse). She also worked for the Middle Eastern desk at Crédit Agricole (Suisse) and for an independent asset management firm based in Geneva. She holds a Bachelor of Business Administration from Webster University Geneva.
