U.S. asset management company Federated Hermes plans to establish an office in Hong Kong

According to the South China Morning Post, the American asset management company Federated Hermes (FHI.US) plans to establish an office in Hong Kong. The company stated that the plan has been approved by the board of directors and will be officially announced at the Asian Financial Forum (AFF), but it still needs to obtain approval from the Securities and Futures Commission.

Jim Roland, the company's Asia-Pacific distribution head, stated that it is essential to provide services to the largest financial institutions in Hong Kong, as this is where they see significant growth. He also mentioned that the decision to enter Hong Kong is based on feedback from clients and partners. As of September last year, the company managed assets of $871.2 billion and has offices in Singapore, Tokyo, and Sydney