BISYS invests in regional hub (hktdc.com)


	Glenn Kennedy, BISYS Alternative Investment Services Managing Director, explains why Hong Kong adds up as a regional hub

When choosing its launchpad to Asia, New York-listed BISYS Alternative Investment Services wanted to be close to corporate decision-makers.

That clear criteria led the firm to Hong Kong, the leading regional hub for MNCs (multinational companies), SMEs (small and medium-sized enterprises) and financial institutions.

BISYS Alternative Investment Services, a leading global provider of administrative, accounting, corporate and tax services for the hedge fund and private equity industry, had been tracking the Asian marketplace closely for some time, Managing Director Glenn Kennedy said.

Mr Kennedy said the move into Asia was an important step in BISYS' international growth strategy, with alternative investment assets under management in Asia having grown by over US$100 billion over the past two years alone. The firm had identified a need for an experienced alternative investments administrator based in Hong Kong, he said.

Pan-Asia focus

"In our business, we need to be close to the investment managers who make decisions, and typically that’s been US and European focussed. More and more the alternative investment activity is focused on Asia, and to properly service our Asian and Australian clients we really need to be in the region.

"Our primary reason for choosing Hong Kong is that the science of our business means we need to be close to our clients. Hong Kong is a leader in terms of where the investment managers and decision makers are located. Our focus is not just on Hong Kong, but to service the region from our office here. Hong Kong enables us to do that with ease.

"The city’s robust regulatory regime is something we’re comfortable with, and that also made Hong Kong attractive to us. Hong Kong offers other advantages as well – an attractive fiscal regime and a deep pool of talent which will help us to expand our business in the region."

Tailored solutions

BISYS opened its office in December, transitioning Asian and Australasian clients to the new regional hub. The firm provides innovative and tailored solutions to around 500 clients and over 1,500 funds, including hedge funds, fund-of-funds and private equity funds. A division of The BISYS Group, the firm has US$250 billion in assets under administration.

"We are now open for business in Hong Kong and very interested in speaking to new prospective clients," Mr Kennedy said.