Hong Kong fund managers open Singapore offices to dodge protest fallout
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Hong Kong’s protests are spurring more asset managers from the city to ask about opening offices in Singapore, according to consultants.

When it comes to the Hong Kong firms that are looking to set up offices in recent months, they are generally of the size where they would look to have another office in Asia, but the protests are an added impetus, according to Duff & Phelps.

“The protests are a factor that accelerates the decision to open a Singapore office but are not the sole driver of Hong Kong firms applying to do regulated business in Singapore,” said Koh.

Hong Kong funds are putting contingency plans in place and some of them have asked their staff to spend time in Singapore during “crazy” weeks to minimize disruption, according to Benjamin Quinlan, chief executive officer of financial services consultancy Quinlan & Associates in Hong Kong.
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