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FP Global acquires ML Sense

daphne@fundspartnership.com (Daphne Tan) — Wed, 26 Feb 2025 01:00:00 GMT

SINGAPORE, 26 FEBRUARY 2024 – FP Global, a strategic recruitment consultancy firm, has announced the strategic acquisition of ML Sense , a London-based data strategy consultancy firm, in a move to align its services with the evolving demands of the AI-driven workforce.

This partnership underscores FP Global's commitment to helping companies leverage AI to enhance efficiency, reduce costs, and unlock new opportunities.

Commenting on the announcement, Ayyaz Ahmad , Founder for FP Global, said:

"AI is reshaping the workforce by both creating and displacing jobs. Companies recognise that certain tasks are better handled by machines, offering cost savings that are impossible to ignore. With the acquisition of ML Sense, we aim to identify those people skilled in using AI while implementing AI solutions that can save businesses millions."

Emphasising on the importance of human-AI synergy, Zane Daniyal , Founder for ML Sense commented:

"Adopting cutting-edge technology is only part of the solution. Success lies in having individuals with critical thinking and communication skills who can work effectively with AI. By joining FP Global's ecosystem, we can now seamlessly advise on both people and technology."

This acquisition positions FP Global and ML Sense at the forefront of workforce transformation, enabling businesses to harness AI while fostering a skilled workforce equipped for the future.

This will also add further strength to FP Global’s existing recruitment services, allowing us to provide clients talent solutions with greater efficiency and precision through the integration and adoption of artificial intelligence in the Asia Pacific (APAC), Europe, the Middle East and Africa (EMEA), and the Americas regions.

For further information, please contact:

Daphne Tan

Associate Director

Telephone: +65 6635 5917

Email: daphne@fundspartnership.com

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About FP Global

We are a strategic recruitment consultancy firm specialising in human capital solutions. Our expertise lies in identifying and recruiting top talent for your firm all while simultaneously supporting the optimisation of business operations through AI-powered technologies.

Here at FP Global, we go beyond just connecting you with perfectly targeted candidates that best suit your job through our talent acquisition services. With our Employer of Record (EoR), Professional Employer Organisation (PEO) services and Staff Augmentation services, we are able to support you on a broad spectrum of human resources operations.

Whether you are looking to grow your team, venture into new markets, offshore and/or outsource your business; FP Global is your enabler to bridge the gap between you and your business goals in the APAC, EMEA and the Americas regions. For more information about FP Global, visit
fundspartnership.com .

About ML Sense

ML Sense is a UK-based data strategy consultancy committed to helping businesses unlock the full potential of their data to maximise savings and profits.

Through our Data Strategy services, we define challenges, create actionable roadmaps, and optimise execution to deliver measurable results. Our Data Engineering expertise allows us to build and maintain scalable data platforms, solving complex data challenges with both cloud-based and on-premise solutions. Additionally, our DevOps & DataOps Management ensures seamless operations of data pipelines with a 90% uptime guarantee, covering setup, maintenance, and issue resolution.

By combining strategic insights with technical excellence, we empower organisations to solve business problems, cut costs, and develop new revenue streams through data-driven innovation. For more information, visit https://www.mlsense.ai/ .

About the Author

Three Talent Must-Haves for Hedge Funds & Asset Managers This Chinese New Year

Mon, 27 Jan 2025 07:54:50 GMT

As Chinese New Year approaches, many leaders in Hong Kong and Singapore’s hedge fund and asset management space are looking ahead to a fast-paced, transformative 2025.

With evolving regulations, surging ESG requirements, and the boom in digital assets, the talent choices made now can define your firm’s trajectory for years to come.

Building ESG Strength

Investors and regulators alike are pushing for transparent, responsible investment practices. Teams with robust ESG expertise can spot opportunities early and steer clear of compliance pitfalls.

Recruit or upskill analysts who not only understand financial modeling but can also integrate sustainability metrics into portfolio decisions.

Anticipating Regulatory Shifts

Regulatory bodies in Hong Kong and Singapore continue to refine standards for everything from AI-driven trading to digital currency transactions.

Strengthening compliance and risk management functions ensures agility—so your firm can adapt smoothly to new rules rather than scramble at the last minute.

Embracing Digital Assets

Tokenisation, blockchain infrastructure, and crypto funds are becoming mainstream. Specialised roles in technology, quant, and data science are no longer “nice to have”—they’re essential.

An eye on future-focused skill sets helps uncover new profit channels and fosters a culture of innovation.

Where to Begin
Assess Current Gaps : Evaluate the expertise you already have. Which areas (ESG, compliance, digital) need immediate attention?

Plan for Growth : Align talent acquisition with your firm’s long-term strategy. Hiring reactively often means paying a premium and settling for a lukewarm fit.

Cultivate an Engaging Culture : In a competitive market, top talent looks for environments that offer advancement and a sense of purpose. Showcasing leadership development, mentorship programs, and a forward-looking vision can make all the difference.

Whether it’s shoring up compliance teams, diving deeper into ESG, or exploring digital assets, taking a methodical approach to talent will help your firm stay resilient and opportunistic in 2025 and beyond.

Here’s to a prosperous Chinese New Year—may you find the right people, the right moves, and the right momentum to make this your best year yet.

About the Author

Navigating 2025: How Financial Leaders in Hong Kong & Singapore Can Secure Essential Talent—Without the Stress

Fri, 24 Jan 2025 05:42:53 GMT

Leading a financial institution in Hong Kong or Singapore? You’ve likely felt the mounting pressure.

Between digital banking, new regulatory frameworks, and ESG requirements, it’s easy to feel overwhelmed.

If you’re asking, "Where do I find the specialised talent I need for tomorrow—while managing today's demands?" you're not alone.

The Data Behind the Pressure
Massive Fintech Growth : Singapore’s digital finance market could reach USD 3.4B by 2025 (MAS).

Regulatory Acceleration : Hong Kong’s Greater Bay Area integration will boost demand for compliance and risk experts by 30% (Michael Page Asia).

Skill Gaps Looming : Nearly 50% of finance roles worldwide may require re-skilling in the next two years (World Economic Forum).

Why It Matters
Proactive Hiring saves you from last-minute scrambles, ensuring you’re prepared for both innovation and regulations.

A Compelling Value Proposition helps attract specialists in compliance, fintech, and ESG, who want more than just a pay check.

Customised Talent Strategies align with your unique culture, whether you’re doubling down on digital banking or scaling up compliance.

How I Can Help—Genuinely
I partner with financial leaders to:

Map Out Emerging Roles so you know which skills to secure now.
Design Targeted Hiring Plans that align with your growth goals.
Deliver Ongoing Support, so you’re not left navigating sudden changes alone.

I understand the pressure of tight deadlines, regulatory demands, and the race to innovate. My aim is to reduce that stress, so you can focus on leading your business into a successful future.

Ready to Talk?
If you’re looking for a trusted resource who truly “gets” the financial talent market in Hong Kong and Singapore, let’s connect. We’ll tailor a plan that helps you secure the specialised professionals you need —before your competitors do.

Because with the right people and FP Global in place, the challenges of 2025 become your greatest opportunities.

About the Author

Strategic Hiring in 2025: Aligning Talent with Vision

Thu, 23 Jan 2025 10:01:57 GMT

As the financial landscape continues to evolve in 2025, one thing is clear: hiring the right talent isn’t just about filling roles—it’s about aligning people with your organisation’s vision and long-term strategy.

Here are the critical hiring realities that every decision-maker needs to consider this year:

1. Specialised Skills Are Non-Negotiable
Demand for expertise in FinTech, ESG, AI, and market-specific strategies is at an all-time high. These professionals are rarely on the job market—they’re actively courted by competitors. The ability to attract and engage them is a game-changer.

2. The High Cost of a Mis-Hire
Studies show a poor hire can cost companies up to 30% of the employee’s annual salary, not to mention the impact on team morale and productivity. For senior and C-level positions, this cost can skyrocket into the millions, making strategic hiring an absolute necessity.

3. Retention Challenges in a Competitive Market
70% of employees in competitive industries cite lack of growth opportunities and cultural misalignment as reasons for leaving (Gallup, 2024). Compensation alone is no longer enough—professionals value flexibility, purpose-driven leadership, and alignment with organisational values.

At FP Global , we understand these challenges and partner with organisations to ensure every hire is a strategic asset.

Here’s what sets us apart:

✅ Market Intelligence: With deep insights into the finance sector, we know where to find the best talent—and how to bring them on board.

✅ Tailored Solutions: We don’t believe in cookie-cutter approaches. Every placement is aligned with your company’s unique goals and culture.

✅ Retention-First Approach: Our focus isn’t just on Day 1—it’s on ensuring that the talent we place thrives and contributes long-term value.

In 2025, the key to thriving in the financial sector isn’t just staying competitive—it’s staying ahead. Strategic hiring is your strongest advantage in navigating this complex and fast-moving landscape.

To the reader (that's you!): What’s your biggest challenge in attracting and retaining top talent this year? I’d love to hear your thoughts and share insights!

If you’re looking to rethink your hiring strategy, let’s connect at diana@fundspartnership.com .

About the Author

Hiring Challenges Facing the Financial Industry in Hong Kong and Singapore in 2025

Wed, 22 Jan 2025 10:19:32 GMT

Beyond the headline challenges of economic growth and geopolitics, several overlooked issues could significantly impact Hong Kong and Singapore’s financial sectors this year.

Here's what decision-makers need to watch out for:

1. Talent Shortages
The financial sector in Singapore is set to grow by 4-5% annually, requiring 3,000-4,000 new hires yearly (MAS, 2024). Retaining talent is critical, as replacing a senior professional can cost 213% of their annual salary.

2. Cybersecurity Threats
A single data breach costs financial firms an average of $4.45 million (IBM, 2024). Stricter regulations, like Singapore’s Cybersecurity Act, come with fines exceeding SGD 1 million for non-compliance.

3. ESG Integration
ESG assets now exceed $35 trillion globally, but only 40% of asset managers in Hong Kong and Singapore feel ESG reporting standards are clear (KPMG, 2024). As ESG demand surges, firms need clear frameworks to avoid falling behind.

4. Compliance Costs
Financial institutions are allocating up to 12% of operating budgets to compliance (Reuters, 2024). Asia accounts for 20% of global AML fines, highlighting the need for robust compliance systems.

5. Technological Disruption
Hong Kong and Singapore are embracing AI and blockchain, with 70% of asset managers in Hong Kong planning AI adoption by 2026.
Firms slow to adopt new tech risk losing out, as digital leaders grow revenues 20% faster (McKinsey, 2024).

Why These Challenges Matter
While these challenges may not dominate headlines, their impact is profound. Addressing them is critical for maintaining resilience and competitiveness in Hong Kong and Singapore's financial sectors.

Leaders who act proactively—whether by adopting new technologies, prioritising talent retention, or meeting evolving ESG standards—will not only overcome these challenges but thrive in 2025 and beyond.

Are you prepared to navigate these hidden challenges? Let’s connect!

I’d love to discuss how FP Global can help you find the talent and solutions to future-proof your business.

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Talent is King (and Queen) in Alternatives: Insights from the 2024 EY Global Alternative Fund Survey

Tue, 21 Jan 2025 05:26:46 GMT

I recently attended the 18th EY Singapore Alternative Fund Symposium on 15 January 2025. The symposium featured various panels, fireside chats, and presentations from industry leaders, covering a wide range of topics relevant to the alternative investment sector in 2025.

As someone in the talent industry, I was particularly drawn to this slide in the presentation:

"Alternative fund managers are prioritizing growth, technology and talent"

I went to download the latest 2024 EY Global Alternative Fund Survey to understand more, as I always keep a close eye on industry trends, particularly regarding talent.

The survey highlighted that talent management is one of the top five priorities for alternative fund managers , with a particular emphasis in the Asia-Pacific (APAC) region.

The survey also reveals that talent is a major strategic focus, especially in APAC where 37% of managers consider it an important goal. Despite AI's growing influence, firms with growth plans are looking to increase headcount, particularly in business development roles.

On the Ground
It's clear that talent management isn't just an HR issue – it's a core strategic priority for alternative fund managers. This means the competition for top talent is going to be fierce, and firms need to be proactive to attract and retain the best people.

I would just like to highlight the point of developing strong employer brand from a recent coffee chat with an investment professional.

When he mentioned declining a recent job offer, I asked which firm it was. His response triggered an involuntary "Oh, I see" reaction from me—a reaction that piqued his curiosity. I explained that this particular firm had been hiring for the same position over a while.

He laughed knowingly and confirmed this was precisely why he had declined their offer. While I played devil's advocate and suggested it could be due to misalignment in the talent hiring process ( note: they weren't our client - when firms work with us, we advise them on strategic positioning and employer branding ), he revealed he had conducted extensive due diligence, including direct conversations with his potential predecessor to understand the underlying dynamics….

Word of Thoughts

The market does ‘talk’, which is why organizations work with experienced professionals who can help them build not just teams, but sustainable employer brands that attract and retain the best talent.

Enjoy the slides below for more details! (click on the arrows to navigate)

About the Author

Why Financial Firms in Hong Kong Should Use Recruiters

Mon, 20 Jan 2025 09:33:34 GMT

Hong Kong remains a thriving hub for global financial markets, and as we move into 2025, its dynamism is undeniable.

As a recruitment consultant, I’ve seen firsthand how the right talent strategies can shape success in this fast-paced industry.

Hong Kong’s financial market demands proactive, strategic hiring, and partnering with specialised recruiters offers critical advantages:

Access to Top Talent

A 2024 survey showed 78% of financial professionals found their roles through recruiters, highlighting the deep networks and expertise recruitment agencies provide.

Faster Hiring

With senior roles taking 45 days on average to fill , recruiters reduce time-to-hire by 30%, streamlining the process with pre-screened, qualified candidates.

Market Insights

In-demand roles like ESG specialists saw a 25% increase in 2025, with salaries rising 18%. Recruiters ensure competitive offers and strategic hires.

Higher Retention Rates

Recruitment agency hires have a 20% better retention rate after two years compared to direct hires—essential for roles in fintech, ESG, and cross-border finance.

Discretion

For sensitive leadership roles, recruiters offer confidentiality and a trusted intermediary.

Real Results
One Hong Kong firm expanded its ESG division in 2024, filling three roles 40% faster with recruitment support and achieving a 100% retention rate within 12 months.

The Numbers
78% of professionals use recruiters for new roles.
30% faster hiring with agencies.
25% growth in ESG role demand in 2025.
20% better retention for recruiter-placed hires.

Recruitment isn’t just about filling vacancies—it’s about building the right team for sustained success.

Recruitment agency and executive search firm FP Global connects financial firms with exceptional talent, helping them navigate Hong Kong’s dynamic market.

Let’s make your hiring strategy a driver of success in 2025. Get in touch with me at diana@fundspartnership.com to start the conversation!

About the Author

Game-Changers in Real Estate: Trends Shaping the Future of Investment in Asia

Fri, 22 Nov 2024 02:53:41 GMT

The year 2024 has seen the Asian real estate market undergoing major changes, influenced by changing economic conditions, a rising focus on sustainability, and the market's shifting dynamics.

Not only are these shifts changing the real estate scene in the area, but they are also playing a role in the investment decisions of those aiming to benefit from fresh opportunities.

Here is a closer look at the top three significant trends that dominated the real estate space in 2024 that you need to know:

Sustainability and Green Real Estate

Sustainability is no longer just a buzzword—it is a critical factor in investment decisions. Across Asia, the demand for environmentally-friendly real estate has skyrocketed, with investors increasingly seeking properties that meet rigorous environmental standards .

Cities like Tokyo, Seoul, and Singapore are the key regions leading the charge, setting a premium on eco-friendly properties as part of broader Environmental, Social, and Governance (ESG) goals.

This shift is particularly evident in commercial real estate, where green-certified buildings are attracting both tenants and investors, with this increased demand expected to outpace new supply .

Thus, developers are embracing sustainability by retrofitting older buildings and incorporating green features into new developments to meet demand. This trend is fuelling investment in energy-efficient technologies and sustainable building practices, offering long-term growth opportunities for those aligned with ESG principles.

Rise of Alternative Assets

In 2024, traditional real estate sectors like office and retail faced headwinds due to economic uncertainty, higher interest rates, and shifting demand. As a result, investors are diversifying their portfolios into alternative assets .

Data centres, multifamily housing, and logistics properties are becoming the new focus. The multifamily sector, driven by changing demographics and growing urban populations, is robust in cities like Tokyo and Hong Kong.

Additionally, data centres are experiencing unprecedented demand, particularly in tech-driven markets like India, where digital infrastructure is booming and growth in this local sector is projected to see US$10 billion in investments over the next three years .

As alternative assets offer stable returns uncorrelated to traditional real estate cycles, investors are increasingly shifting focus towards these sectors. This diversification proves especially advantageous in high-interest-rate environments, where conventional real estate often falls short of meeting expectations.

This evolving investment landscape significantly impacts employment within the real estate sector, creating heightened demand for professionals skilled in navigating the complexities of alternative asset classes, including valuation, financial modelling, and regulatory compliance.

Want to know more about the salaries of real estate professionals? Take a look at FP Global's 2024 Real Estate Salary Guide for detailed information on compensation trends.

Office Space Optimisation and the "Flight to Quality"

The office space market continues to evolve in 2024, mainly as companies adjust to the hybrid work model and seek real estate that meets new employee expectations.

A growing trend is the "flight to quality," where tenants are choosing high-grade, sustainable office spaces over traditional, less flexible options. CBRE Asia's Pacific Research report "Flight to Quality in the Asia Pacific Office Market" noted that this shift is driven by the desire for offices in core locations with eco-friendly features and the need for flexible workspaces that support changing work patterns.

In 2024, the demand for premium office spaces in Asia increased by about 10.7% year-on-year , while traditional office space experienced slower growth, with cities like New Zealand and Singapore witnessing a surge in demand for well-located, sustainable buildings, with annual office leasing growth in these markets exceeding 30%.

The "flight to quality" trend is a boon for developers and landlords who have invested in green, tech-enabled office buildings. These premium assets command higher rents and achieve more stable occupancy, making them attractive for long-term investments with dependable returns.

The real estate market in Asia is undergoing a profound transformation in 2024, driven by sustainability, diversification, and a shift towards higher-quality assets. For investors, these trends represent key opportunities to align portfolios with evolving market demands.

The effects of this transformation are expected to carry over into 2025, shaping the investment landscape and influencing decision-making. Whether embracing green certifications, exploring alternative assets, or targeting prime office spaces, those who adapt to these trends are well-positioned to reap the rewards as the Asian real estate market evolves.

Capitalise on FP Global's expertise to optimally position your business for upcoming changes by partnering with us for workforce management solutions! Get in touch with our specialist in this space to find out more:

Why Culture Fit Matters for Long-Term Success

Thu, 14 Nov 2024 08:47:29 GMT

Whether it’s a boutique firm or a large MNC, I’ve seen firsthand how essential culture fit is for long-term success.

Recently, a close friend shared his experience of joining a new company where the culture just doesn’t align with his own.

He’s giving himself another month to see if it improves, but here are some examples of culture mismatches that can make or break a role:

Work Pace Differences: Moving from a fast-paced, high-pressure environment to a slower, methodical one can be tough, especially for those used to a high-energy setting (vice versa)

Work-Life Balance Expectations: If a candidate values clear work-life boundaries, but the company culture leans toward long hours, it can lead to burnout and disengagement.

Value Mismatches: When a company emphasizes values like social responsibility or sustainability, and the employee doesn’t connect with these, they may feel out of sync with the company’s mission.

Innovation vs. Standardization Expetactions: A workplace that encourages creativity might frustrate someone who thrives in structured, traditional processes.

Leadership Style Differences: A flat hierarchy and open-door policies can feel disorienting for someone used to formal structures and clear authority.

Communication Style Conflicts: A direct communication culture may feel uncomfortable for those who prefer a reserved, diplomatic approach, impacting teamwork and collaboration.

Flexibility and Change Resistance: Employees who prefer stability may feel uneasy in environments that value constant change and innovation.

Team Collaboration Approaches: Independent workers might struggle in highly collaborative settings, feeling micromanaged or pressured.

At FP Global, we help avoid these mismatches by thoroughly assessing cultural compatibility, using a science-backed approach that goes beyond the resume and one-hour interview.

Interested in learning more? Let’s chat over coffee or teams call. Feel free to reach out at suling@fundspartnership.com .

About the Author

Shaping the Future of Medicine: Top Healthcare and Pharmaceutical Trends

Mon, 28 Oct 2024 02:00:00 GMT

Innovations in technology, evolving patient expectations, and global challenges are driving rapid transformations in the healthcare and pharmaceutical sectors, leading private equity firms to focus on investing in businesses that will shape the future of medicine.

In 2024, several key trends are influencing the industry, from technological advancements to new regulations and evolving market dynamics.

Here are some of the key trends you need to know:

Telemedicine, Telehealth and Remote Healthcare

One of the most significant trends in healthcare today is the rise of telemedicine.

Telemedicine and telehealth include various technologies, such as video calls, mobile apps, remote monitoring devices, and electronic health records, to provide healthcare services remotely. These tools allow patients to consult with doctors from home, reducing geographical barriers and improving accessibility, especially for those with mobility issues, in rural areas, or requiring specialised care.

The COVID-19 pandemic has accelerated the adoption of such digital health solutions, with teleconsultations, remote patient monitoring, and mobile health apps becoming integral to healthcare delivery.

The global telehealth market is projected to grow at a 26.6% compound annual growth rate (CAGR), reaching $285.7 billion by 2027, up from $87.8 billion in 2022 . Virtual care, including mental health services, is becoming an integral part of healthcare systems and in the past few years, we have seen substantial investments in telemedicine platforms and digital health startups. One such notable event includes the $17 billion buyout of healthtech company Athenahealth by Hellman & Friedman and Bain Capital.

Genomics and Precision Medicine

Precision medicine, tailors’ treatments to the unique characteristics of each patient and breakthroughs in genomics and biotechnology are enabling therapies to be customised based on these unique characteristics in an individual's genetic profile. This approach is especially promising in oncology, where targeted treatments can greatly enhance patient outcomes.

The global personalised medicine market was valued at USD 529.28 billion in 2023 and is expected to grow at a CAGR of 8.20% from 2024 to 2030. Major advancements such as the conclusion of the Human Genome Project and the CRISPR gene-editing technology are fueling this movement, facilitating more accurate therapies for illnesses like cancer, rare genetic disorders, and cardiovascular diseases.

Artificial Intelligence (AI) in Drug Discovery

The pharmaceutical industry is increasingly using AI to speed up drug discovery and development. AI algorithms can analyse vast datasets, identify potential drug candidates, and predict how compounds will interact with biological systems. This can help to shorten development timelines and reduce costs by up to 70% according to an Insider Intelligence report , further enhancing the precision and efficiency of healthcare.

Pfizer , Novartis , and Merck are among the major players in the industry that have already begun using AI to optimise their R&D processes. As such, the continued interest of firms in the role of AI within the healthcare industry is not surprising.

With the ongoing integration of AI into pharmaceutical companies, there will be a heightened demand for skilled professionals to handle and innovate within these advanced systems, leading to a significant increase in hiring across the healthcare and tech sectors.

If you are interested in exploring salary ranges within the healthcare industry, check out FP Global’s 2024 Healthcare Salary Guide for detailed insights into current compensation trends!

The healthcare and pharmaceutical industries are experiencing major changes in 2024, with telemedicine, AI-powered drug discovery, and personalised medicine transforming healthcare delivery. At the same time, the growth of biopharmaceuticals and regenerative medicine is improving patient outcomes and driving a shift towards a more efficient, patient-centred healthcare system. As these trends evolve, healthcare providers, pharmaceutical companies, and policymakers will need to adapt to meet the increasing demands and expectations of patients globally.

Leverage FP Global's expertise to boost the growth of your business when you partner with us for workforce management solutions by registering a vacancy , or reaching out to our specialist:

Malaysia's Budget 2025: Big Opportunities, Bigger Talent Challenges?

Mon, 21 Oct 2024 03:06:58 GMT

With RM1 billion set aside for local talent development and a whopping US$16.9 billion in investments attracted from global giants, Malaysia is positioning itself as a major player in the tech and digital space.

This is great news for the economy, but it also brings up important questions for businesses:

How are you preparing for the surge in demand for talent? Do you have the people you need to take advantage of this growth?

�� More Competition for Top Talent
These investments point to rapid growth in high-value sectors such as AI, robotics, and digital technologies. As companies expand, the competition for skilled talent is going to be fierce. The race is on, and everyone will be looking for the brightest to stay ahead of the curve.

�� Where Do We find the Talent?

As demand for specialized skills rises, the local talent pool will feel the pressure. Companies might find themselves competing not just within Malaysia, but also on a global scale. This is where a regional workforce strategy becomes crucial.

�� How FP Global Fits in:

From workforce planning to identifying and attracting top talent across APAC, we act as a strategic partner to ensure your team is ready to capitalize on this exciting growth phase.

Let’s connect and explore how we can collaborate to ensure you’ve got the talent to keep up. Drop me a text, or email me at huishuen@fundspartnership.com for a discussion!

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Private Equity in Healthcare: Key Trends Shaping the Future of the Industry

Mon, 14 Oct 2024 02:00:00 GMT

Private Equity (PE) firms have become significant players in the healthcare industry, a sector that is evolving rapidly due to technological advancements, regulatory changes, and shifting patient expectations.

With the global healthcare market expected to reach $665.37 billion by 2028 , it is no surprise that PE firms are eager to enter this industry. Additionally, this increase in investments is changing how healthcare is delivered and financed, bringing innovation and improvements to the industry.

Here are some key trends we see within the healthcare industry:

Rise of Value-Based Care

Value-based care is becoming the norm in healthcare, encouraging better patient results and efficiency over the traditional fee-for-service system.

Value-based care is a healthcare delivery model that aims to improve patient outcomes while controlling costs by emphasising the value of services provided. This approach focuses on delivering high-quality, efficient care that is personalised to individual patient needs and preferences. Singapore's "Healthier SG" programme is a prime example of the growing emphasis on preventive care and integrated services.

As a result, private equity firms are ramping up their investments in outpatient care centres, telehealth platforms, and wellness models that prioritise better patient outcomes and cost savings. This shift represents a lucrative opportunity for PE firms to back chronic disease management and efficient healthcare delivery as they bet on the long-term success of value-based care.

Consolidation of Healthcare Partners

PE firms typically raise capital from institutional investors and high-net-worth individuals to acquire companies. They focus on enhancing operational efficiency, driving growth, and restructuring, with the goal of exiting through a profitable sale , often within a 5 to 7-year investment horizon. These acquired companies include hospitals, clinics, pharmaceutical companies, and other healthcare providers within the healthcare industry.

This consolidation trend works because of the fragmented nature of the healthcare industry, especially in areas like hospitals, outpatient care, and biotech. With so many small and mid-sized businesses, PE firms see an opportunity to consolidate these companies, reduce costs, and improve operations. By combining smaller companies, PE firms can streamline processes, increase profitability, and improve care delivery. This trend reshapes the healthcare landscape by creating larger organisations better equipped to compete in an increasingly complex and regulated environment.

When managed well, private equity investments in healthcare can yield significant returns. For instance, KKR, a leading global PE firm committed to investing in innovative healthcare, has invested over $18 billion in the healthcare sector , allowing the firm to establish a strong network of companies in the healthcare ecosystem.

Labour and Staffing Solutions

One of the greatest challenges currently facing the healthcare industry is a shortage of skilled labor, including nurses, physicians, and administrative staff. According to the World Health Organization, this shortage could reach nearly 18 million health workers globally by 2030 , prompting increased salary ranges across various roles in the industry.

To address this issue, private equity firms are investing in solutions for staffing and workforce management that assist healthcare providers in optimising staffing levels and enhancing worker satisfaction through competitive salary packages.

For an overview of salary ranges in the healthcare industry, be sure to check out FP Global’s 2024 Healthcare Salary Guide !

The role of private equity in the healthcare sector is rapidly expanding as investment firms are making waves by driving crucial changes in the industry. PE firms are actively positioning themselves at the forefront of healthcare transformation through investments in value-based care models, provider consolidation strategies, and innovative labour solutions. This surge of investment activity indicates that private equity will play a pivotal role in shaping the future of healthcare in the years ahead.

Partner with FP Global to navigate the evolving healthcare landscape and unlock new growth opportunities with us when you register a vacancy , or reach out to our specialist:

Bringing The Global Team Together! | FP Global's Town Hall 2024

Tue, 04 Jun 2024 02:16:05 GMT

At FP Global, our motto, "Impacting Individuals, Empowering Economies" is more than just words—it's our guiding principle.

This spirit shone brightly at our recent town hall, a dynamic 2-day event that united our global family from Dubai, the Philippines, and the United Kingdom.

It wasn’t just any meeting; it was a lively celebration of teamwork, laughter, and growth!

A Global Reunion Like No Other

Imagine the buzz in the air as colleagues from around the globe finally met face-to-face. There were warm hugs, high-fives, and lots of "it's so great to finally meet you in person!" moments!

Our diverse team, united by a shared purpose, created an electric atmosphere that was both welcoming and exhilarating. It was a reunion that truly felt like coming home.

"An investment in knowledge pays the best interest." - Benjamin Franklin

The town hall was packed with sessions designed to hone our skills to be better recruiters. But this wasn’t your typical workshop setup—think dynamic sessions, interactive activities, and plenty of lively discussions with key speakers.

Through interactive and informative presentations, our speakers captivated our attention with real-world insights and practical coaching, leaving us feeling smarter, inspired, and ready to conquer new challenges!

Laughter, Memories, and the Dream Team Spirit

From entertaining icebreakers to spontaneous games, the town hall was a gathering full of laughter. Stories were shared, jokes were told, and core memories were created!

The event was a perfect blend of professional growth and pure, unadulterated fun. By the end, we felt more connected than ever, ready to collaborate and support each other in new and exciting ways.

Let's Make an Impact Together

If you're eager to make a difference and work with a diverse team, we're the perfect fit for you!

FP Global is expanding globally and we're on the lookout for like-minded and driven individuals to join our dream team in the following locations:

Egypt
Malaysia
Philippines
Poland
United Kingdom

Ready to begin a dynamic career journey with us, where innovation, collaboration, and growth take center stage? Reach out to Daphne Ta n for a confidential discussion.

Curious to know what it’s like to be part of the Dream Team, find out what our specialists have to say about Life @ FP Global !

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FP Global is on WeChat!

Tue, 23 Apr 2024 09:26:21 GMT

Stay in the know with us on WeChat!

In alignment with our other social media platforms, FP Global is transitioning to a new WeChat account: @fundspartnershipglobal !

Starting April 2024, all industry insights and updates will be shared there so don't miss out!

Scan the QR code below using your WeChat mobile application and hit "Follow" to start discovering job opportunities with us in the Greater China region.

See you on the flipside!

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Singapore's New Guidelines for Flexi-Work Arrangements (FWA) Explained

Mon, 22 Apr 2024 05:54:34 GMT

Interestingly, someone I personally know has created this comic explaining the new Guidelines for FWAs.

This FWAs was announced last Tuesday, 16 Apr 2024, by both the TAFEP Tripartite Alliance for Fair and Progressive Employment Practices Workgroup and the Ministry of Manpower (MOM).

Although the comic was created out of his own joy, I find them very well explained and humorous (using Singlish) too. I got his exclusive approval to use it for my post here. Appreciate his kindness truly. Thank you.

You may want to read the comic first so that you have a better understanding of what this FWAs is about. Below are just my thoughts and conclusion.

Conclusion

Whenever there is a new law or new set of guidelines, I feel sad as well as glad at the same time. Sad because we are so incapable of being reasonable and logical that we need the law to rule us. Glad because there are laws to address matters acted by unreasonable and illogical us.

Nonetheless, a coin has 2 sides, as laws, rules or guidelines are always a double-edged sword that could work for you or against you at different times.

Sorry that I digressed….

In conclusion, instead of looking at the new guideline as a win or lose, right or wrong, work or don’t work, pro or against perspective, I would choose to look at it as a labour transition in our era, where AIs and even Robots are/will be part of the workforce.

“The Only Constant in life is Change.” - Heraclitus

Sources:

MOM - Tripartite Guidelines that Shape the Right Norms and Expectations Around Flexible Work Arrangements to Come into Effect on 1 Dec 2024: https://www.mom.gov.sg/newsroom/press-releases/2024/0416-launch-of-tripartite-guidelines-on-fwa-requests-and-tripartite-workgroup-report
Report of the Tripartite Workgroup on the Tripartite Guidelines on Flexible Work Arrangement Requests: https://www.mom.gov.sg/-/media/mom/documents/press-releases/2024/twg-report.pdf
Tripartite Guidelines on Flexible Work Arrangement Requests: https://www.mom.gov.sg/-/media/mom/documents/press-releases/2024/Tripartite%20Guidelines%20on%20Flexible%20Work%20Arrangement%20Requests
MOM - Flexible Work Arrangement: https://www.mom.gov.sg/-/media/mom/documents/employment-practices/flexible-work-arrangements.pdf

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Should you accept a counter-offer from your current employer?

Tue, 16 Apr 2024 09:03:16 GMT

Let's explore the pros and cons of a counter-offer:

Pros

Salary/Perks Increase: Current employers may offer more to keep you, providing immediate benefits. But this may only address short-term concerns.

Career Growth: Promises of career development can be enticing, but true growth often comes from new challenges outside your comfort zone.

Cons

Long-term Issues: Accepting a counter offer may not address underlying reasons for leaving, such as lack of growth, job satisfaction or cultural fit.

Comfort Zone: While familiar surroundings are comforting, growth often lies outside it, and changing jobs can lead to personal and professional development.

Ultimately, the decision depends on your circumstances and long-term career goals/career fulfilment.

If you’re a job seeker or hiring manager, happy to connect with you to discuss your career aspirations or hiring needs for the year ahead!

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Permanent perks or Contract freedom? Find out which position best aligns with you!

Tue, 09 Apr 2024 08:53:16 GMT

When considering whether to pursue a contract or permanent position, it often depends on individual circumstances, career goals, and personal preferences.

Here are some factors to consider for either position:

Permanent Position

Job Security: Typically offer more stability and job security compared to contract roles. However, we have observed that there are still likelihood of facing sudden termination during this market condition.

Benefits: Often receive a comprehensive benefits package, including health insurance, retirement plans, paid time off, and other perks.

Career Growth: Often provide structured career paths within the organization. You may have access to training and development programs, mentorship opportunities, and chances for promotions or lateral moves to broaden your skills and responsibilities.

Company Culture: Allows you to fully immerse yourself in the company's culture, values, and mission. You can build lasting relationships with colleagues, participate in team-building activities, and contribute to the long-term success of the organization.

Stability: If you value stability and prefer a predictable work routine, a permanent position may be more suitable.

Contract Position

Flexibility: Offer greater flexibility in terms of work duration and schedule. You may have the opportunity to work on multiple projects, gain diverse experiences, and explore different industries.

Higher Pay: Often come with higher hourly or project-based pay rates compared to permanent positions. This can result in greater earning potential, especially for specialized skills or short-term projects.

Independence: Allows you to maintain a level of independence and autonomy in your career. You have more control over your assignments, clients, and work environment.

Skill Development: Can be a valuable opportunity to develop new skills, expand your network, and enhance your marketability. You may gain exposure to cutting-edge technologies or industries that can boost your resume.

Ultimately, the decision between a contract and permanent position depends on your priorities, career objectives, and personal circumstances. Some individuals may prefer the stability and benefits of permanent employment, while others may thrive in the flexibility and higher pay of contract work. It's important to assess your own preferences, weigh the pros and cons of each option, and choose the path that aligns best with your goals.

Feel free to contact me at suling@fundspartnership.com if you are keen to explore any opportunity with FP Global or to have a confidential chat. ��

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Exploring Common Jobs Managed Through Employer of Record (EOR) Arrangements: A Comprehensive Guide

daphne@fundspartnership.com (Daphne Tan) — Wed, 13 Mar 2024 03:00:00 GMT

Employer of Record (EOR) arrangements allow for the management and execution of a diverse array of jobs in different sectors.

The main role of an EOR is to serve as the official employer for workers hired by a company, taking care of administrative duties such as payroll, benefits, taxes, and compliance, while the client company maintains authority over the employees' daily responsibilities and supervision.

Here are some common roles FP Global has assisted our clients via the EOR model:

Administration and Clerical jobs: This classification consists of positions like administrative assistants, receptionists, data entry clerks, and office managers. EOR services can manage tasks like payroll, benefits administration, and compliance for these positions, while the client company maintains oversight and management duties.
Information Technology (IT) and Software Development jobs: EOR services make it easier for companies to bring on IT professionals such as software developers, system administrators, network engineers, and IT support staff who possess specialized skills. By managing payroll, taxes, and compliance, EOR providers allow client companies to concentrate on project management and technical supervision.
Finance and Accounting jobs: Accountants, bookkeepers, financial analysts, and payroll specialists are commonly engaged through EOR arrangements. EOR services handle payroll processing, tax withholding, and a certain level of regulatory compliance, allowing client companies to focus on financial reporting, budgeting, and strategic financial planning.
Human Resource jobs: HR professionals, including HR assistants, recruiters, benefits coordinators, and HR managers, can be engaged through EOR arrangements. EOR services handle payroll, benefits administration, and compliance, while client companies focus on HR strategy, employee relations, and talent management.

The specific jobs outsourced under EOR depend on the needs and requirements of your company, as well as the capabilities and services offered by FP Global.

Are you considering having certain functions of your business be based in a more cost-effective country?

Reach out to Daphne Tan for a bespoke and confidential conversation about how FP Global can assist your business in navigating EOR solutions.

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Understanding Staff Augmentation: A Strategic Approach to Scaling Your Workforce

daphne@fundspartnership.com (Daphne Tan) — Fri, 08 Mar 2024 04:01:24 GMT

In the current rapidly evolving business environment, the ability to adapt and grow in size is crucial for achieving success. With market demands constantly shifting and project needs changing, companies require flexible solutions to meet their staffing requirements effectively.

Staff augmentation has become a strategic method for organisations to expand their teams efficiently and remain agile.

This article explores the concept of staff augmentation, its advantages, and its comparison to the traditional talent acquisition strategy.

Explaining Staff Augmentation

Staff augmentation is a method companies use to bring in additional professionals or contractors to assist their current staff for a particular project or duration. This approach allows organisations to access specialised expertise quickly without the need for permanent hires.

The external resources, known as "augmented staff" or "contractors," are supervised by the company's management and are integrated into the team seamlessly.

The Value of Staff Augmentation

Flexibility is a key benefit of staff augmentation, allowing companies to adjust their workforce size as needed without the challenges of hiring permanent employees. This adaptability makes it easier for businesses to handle short-term projects or times of increased demand effectively.
Access to specialised skills is a key feature that companies love about staff augmentation. The ability to access a wide range of talented individuals with unique skills that may not be easily found among their current employees, including but not limited to areas such as software development, digital marketing, or data analysis, who can provide the expertise needed to achieve project goals.
Hiring full-time employees involves significant expenses, including salaries, benefits, training, and overhead costs. In contrast, staff augmentation offers a cost-effective solution as companies only pay for the services rendered by external resources without incurring additional expenses associated with permanent hiring.
Faster Response Time to Market: By utilising staff augmentation, businesses can speed up project schedules and bring products or services to market faster. Hiring skilled professionals rapidly helps projects run efficiently, reducing setbacks and increasing productivity.
Focus on core business activities: Dealing with payroll, benefits, and other administrative responsibilities for full-time employees can consume a lot of time and resources. Staff augmentation can help ease this burden by having ext ernal resources managed by the staffing provider, freeing up companies to concentrate on their primary business functions.

Is staff augmentation the way forward?

While staff augmentation offers numerous benefits, it's essential to differentiate it from traditional hiring models such as full-time employment and outsourcing. Unlike traditional hiring, where companies recruit employees to join their permanent workforce, staff augmentation involves temporarily adding external resources for specific projects or tasks. Additionally, unlike outsourcing, where entire projects or processes are delegated to external vendors, staff augmentation allows companies to retain control and oversight of the augmented staff, ensuring seamless integration with the existing team.

Have you decided which one is better for you?

In the current fast-paced business landscape, many companies are turning to staff augmentation as a strategic approach to gaining flexibility, scalability, and access to specialised talent. Utilising external resources for specific projects or time periods allows organisations to optimise their workforce management, cut expenses, and speed up project completion. Nevertheless, it is crucial for companies to thoroughly evaluate their staffing requirements and select a reputable provider to implement a successful staff augmentation strategy effectively.

Whether it's filling in skill deficiencies, expanding for new projects, or managing busy workloads, FP Global is focused on delivering a flexible solution for companies like yours looking to stay ahead in a constantly changing market. Whether you choose to stick to traditional hiring methods or incorporate staff augmentation into your workforce strategy, FP Global aims to assist businesses in improving their agility, allocating their resources effectively, and promoting ongoing growth in today's unpredictable business environment.

Speak to Daphne Tan for a bespoke consultation on how FP Global can take your business to the next level, or, submit the form below and we will be in touch:

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Understanding the Role of Employer of Record: A Strategic Solution for Modern Businesses

Wed, 06 Mar 2024 08:53:58 GMT

In the fast-paced world of business today, companies face a range of obstacles as they work to comply with labour regulations, manage risks, and run their operations smoothly. To address these challenges, many businesses are turning to the concept of an Employer of Record (EOR) for support.

As organisations seek to stay nimble and effective, it is essential to grasp the significance and advantages of utilising an Employer of Record.

What is an Employer Of Record?

An Employer of Record (EOR) is a separate entity that acts as the legal employer for an employee, handling duties like payroll, taxes, benefits, and compliance with local labour regulations.

This allows companies to hire workers without having to navigate the complexities of employment logistics, particularly in unfamiliar locations or when working with temporary staff.

How does Employment Of Record work?

When a company enters into a partnership with an Employer of Record, the EOR assumes the role of the official employer for the workers.

This entails taking on the responsibility for all legal requirements and potential liabilities connected to employment, such as handling taxes, payroll, workers' compensation, and compliance with labour laws.

Despite this arrangement, the client company maintains authority over the daily supervision and direction of the employees, enabling a smooth and efficient incorporation into their business operations.

Benefits of using Employer Of Record

Global Expansion: Expanding globally can be challenging for businesses due to the various employment laws, regulations, and cultural differences. Utilising an Employer of Record with international experience can help companies navigate these complexities and successfully enter new markets while staying compliant with local regulations.
Cost Savings: Companies can save money by using an Employer of Record (EOR) to handle employment-related tasks, as they can avoid the expenses of hiring more staff or purchasing specialised software and infrastructure for payroll and HR management.
Minimising Risks: Ensuring adherence to labour laws and regulations is a top priority for businesses, particularly when operating in different locations. By teaming up with an Employer of Record, companies can shift the legal burden of employment-related risks to the EOR, giving them reassurance and reducing potential liabilities.
Focus on the Core Business Activities: By outsourcing employment-related administrative tasks, companies can redirect their focus towards their main areas of expertise and long-term goals rather than being overwhelmed by day-to-day administrative responsibilities.
Adaptability: In a rapidly changing economy that values adaptability and flexibility, businesses must be able to respond quickly to fluctuations in workforce needs. Utilising the services of an Employer of Record allows companies to easily adjust their workforce size without being limited by traditional employment structures.

Is the EOR model right for your business?

While the advantages of teaming up with an Employer of Record are appealing, it's important for businesses to carefully evaluate their unique needs and circumstances before making a decision. Factors like the company's growth trajectory, geographic presence, and workforce makeup should all be considered when determining if an EOR arrangement is the right fit.

Furthermore, selecting the appropriate Employer of Record is vital. Companies should seek out reputable providers with a proven track record in compliance, customer service, and global capabilities. Consulting with HR professional firms like FP Global can also aid in navigating the complexities of EOR partnerships and ensuring a seamless implementation process.

In summary, the Employer of Record model offers a strategic solution for companies looking to streamline operations, expand internationally, and minimise employment-related risks. By delegating administrative tasks to a trusted third-party partner, businesses can unlock increased flexibility, efficiency, and peace of mind, allowing them to concentrate on driving innovation and growth in today's competitive business environment.

If you are considering to explore the Employer of Record model for your business, please reach out to Daphne Tan for a confidential discussion, or, submit the form below and we will be in touch:

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3 Reasons why Employees Look Out in the Market

Mon, 11 Dec 2023 02:05:19 GMT

There are 3 main reasons why employees look out in the market – Pay , Job scope and Bosses .

Being a recruiter gives me the privilege of connecting with candidates. I’ve heard of the different struggles they faced and one of it is having toxic bosses. It can be frustrating for them as constant scrutiny and lack of trust can hinder their productivity, potential and growth.

There is no one-size-fits-all approach to team management as everyone has different working styles and here are some ways on effective employee management.

1. Listen Actively
Your team's insights are gold. Actively listen to their ideas, concerns, and feedback. A culture of open communication fosters trust and collaboration.

2. Set Clear Expectations

Clearly define roles, responsibilities, and expectations. When everyone knows what's expected, it sets the stage for success.

3. Encourage Work-Life Balance
A burnt-out team is not a productive team. Encourage a healthy work-life balance. Support your employees in managing their time and well-being.

4. Celebrate Achievements
Big or small, achievements deserve recognition. Celebrate milestones and accomplishments. It boosts morale and creates a positive work environment.

5. Constructive Feedback
Feedback is a two-way street. Offer constructive feedback regularly, and be open to receiving it. It's a powerful tool for continuous improvement.

6. Lead by Example
Demonstrate the values and work ethic you expect from your team. Lead by example.

7. Flexibility in Leadership Style
Adapt your leadership style to the needs of your team. Flexibility ensures that you can meet diverse challenges and effectively guide your team through them.

If you're a hiring manager, I'd love to hear your thoughts in the comments section on how you manage/incentivise your team.

And if you're a job seeker, I'd love to connect you with organizations that prioritize your growth and well-being.

About the Author

Do You Have to Reveal Your Last-Drawn Salary to a Prospective Employer?

Mon, 23 Oct 2023 08:24:17 GMT

In the world of recruiting, the topic of salary expectations is often met with mixed feelings. It's a practice that's frequently discussed, and as a recruiter, I've witnessed how it impacts candidates and employers.

Do you have to reveal your last-drawn salary to a prospective employer?

Let's delve into this question and the broader discussion about salary disclosure in the recruitment process.

The Pros

1. Finding the Right Fit: One of the primary benefits of discussing salary expectations with candidates is that it helps us, as recruiters, better understand what opportunities align with their career aspirations. It's not about underselling candidates; it's about finding the right match. Knowing a candidate's salary expectations allows us to explore positions that fall within their desired range.

2. Efficient Matching: By having this information upfront, we can streamline the placement process. It enables us to present candidates with job opportunities that are not only a good fit in terms of skills and experience but also align with their financial goals.

The Cons

1. Transparency Concerns: I understand that candidates may worry about sharing their past salaries or expectations due to concerns about privacy and the fear that this information could be shared with potential employers. As recruiters, it's essential to assure candidates that their expectations are confidential.

2. Potential for Bias: Another concern is that sharing salary expectations can lead to bias in the hiring process. It's crucial for us as recruiters to ensure that candidates are judged on their qualifications and experiences rather than their salary expectations.

My Advice

1. Recruiters and interviewers should initiate a conversation with candidates who decline to share their pay history. The reluctance to share this data often stems from past negative experiences. Employers must assure candidates that they won't face the same issues. It's about building trust in the hiring process.

2. As the hiring landscape continues to evolve, candidates should have the right to choose whether to disclose their last-drawn salary. But as stated in the article, there is an advantage to disclosing it. At the bare minimum, I would suggest sharing your expected compensation with a potential employer and asking for the budget of the role, ensuring everyone is aligned.

3. Companies, too, need to adapt to this changing landscape. It's essential to understand that a candidate's capabilities can't be solely defined by their past earnings. The focus should always be on their potential and the role's requirements.

Let's keep the dialogue going on this important aspect of the job search.

Do you believe in disclosing your last-drawn salary, or do you prefer a more confidential approach? Share your thoughts, and let's keep the conversation alive!

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Success - Luck, No Luck or Something Else?

Mon, 23 Oct 2023 07:55:14 GMT

What role does luck play in career success?

In the latest issue of The Economist, this interesting article, How big is the role of luck in career success explores this question.

In short, it says:

While talent and hard work are crucial, luck also plays a significant part in determining outcomes. By increasing the " surface area of luck " and adopting portfolio thinking, one can enhance the likelihood of favorable outcomes. By assessing success based on process and consistency, rather than isolated achievements, it can help differentiate between skill and luck.

This article reminds me of an intriguing podcast I recently came across, which explores the role of luck too.

Episode #380 of the My First Million podcast features Shaan Puri , who discusses various types of luck, strategies for attracti ng luck, and risk mitigation.

The podcast emphasizes the importance of focusing on the process rather than relying solely on luck. By evaluating our actions and decision-making, we can avoid attributing success or failure solely to luck.

With that, my mind brought me to what was written in Maria Konnikova 's book, The Biggest Bluff: How I Learned to Pay Attention, Master Myself, and Win , which highlights the significance of mindset and personal agency in navigating life's challenges.

One paragraph from a chapter particularly struck me:

"Focus on the process, not the luck. Did I play correctly? Everything else is just BS in our heads, " Erik tells me. "Thinking that way won't get you anywhere. You know about the randomness of it, but it doesn't help to think about it. You want to make sure you're not the person in the poker room saying, 'Can you believe what happened? ' That's the other people. "

Last but not least, “Luck” has a different definition for every one of us. At one end of the spectrum, without luck, there is no success. On the other end, success doesn’t need luck, only actions. Whichever position you are on the spectrum, just go out there and increase your " surface area of luck "!

Good Luck :)

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Salary Data For Private Equity Accountant Across Different Geographies - 2023

Thu, 12 Oct 2023 03:49:33 GMT

I recently attended a seminar on the costs of living and business costs in Singapore. The presenter analyzed various expense categories like logistics, utilities, rentals and importantly, wages. Tight labor market conditions have pushed wage growth above pre-pandemic norms, intensifying the war for talent.

This got me thinking about the options available to fund services clients who are considering adopting an offshoring model for their fund services expansion plan. When deciding whether to have the full team in one location or to explore an outsourcing model (which is quite common among fund administrators), several factors come into play, including the type of talent available, the cost considerations, cultural fit, and language requirements.

To help with decision-making, I have created a salary data guide for different locations.

Please keep in mind that this guide offers general information and does not account for currency conversion or specific salary payment periods (such as 13th or 14th-month salaries). The data has been converted to USD and adjusted to represent a 12-month salary payout period for easier comparison.

Please note that the information provided is not official but rather a compilation of data points from various sources.

The chart serves as a starting point and should be used as a reference only. It is essential to conduct further research and analysis to make informed decisions based on your specific needs and circumstances.

Whether you are planning to offshore, nearshore, friendshore , or simply looking to learn more about the fund talents space, please feel free to reach out. I would be happy to provide further insights and sharing.

Understanding the cost landscape and having access to reliable data is crucial for organizations looking to optimize their operations and remain competitive in today's dynamic business environment.

Download the PDF version here: Private Equity Fund Accountant Salary Data - An Informal Compilation by Lyn Thum

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Key Points from the New Tax Law in the United Arab Emirates

Tue, 10 Oct 2023 05:33:04 GMT

Attention Tax Managers and Tax Agents!

The new tax law in the United Arab Emirates (UAE) regarding corporate tax includes the following key points that you MUST know:

1. Introduction of Corporate Tax:

The UAE will introduce a federal corporate tax effective after June 1, 2023. The tax will apply to all UAE businesses except for those involved in the extraction of natural resources which will remain subject to Emirate level corporate taxation.

2. Tax Rates:

0% tax rate for small businesses and startups, specifically for taxable income up to AED 375,000.
9% headline corporate tax rate will apply to taxable business profits exceeding AED 375,000.

3. Scope:

Foreign entities and individuals will only be subject to Corporate Tax if they conduct a trade or business in the UAE in an ongoing or regular manner.

4. Objectives:

Enhancing the UAE’s position as a global hub for business and investmen
Meeting international standards for tax transparency and preventing harmful tax practices.
Accelerating the UAE’s development and transformation to achieve its strategic objectives.

5. Exemptions and Zero Tax:

There will be exemptions for UAE-based headquarters and international business hubs.
No taxation on foreign direct investment and personal income.

6. Support for Small Businesses:

The tax law is designed to support small businesses and startups with a 0% tax rate for taxable income up to a certain threshold.

7. Compliance:

The law aims to minimize compliance burdens for businesses.

8. Application:

The Corporate Tax will apply equally to all categories of profits and other (net) income reported in the financial statements prepared in accordance with internationally acceptable accounting standards.

These key features are part of the UAE's initiative to align its tax system with international standards while also supporting the business ecosystem within the country.

If you are in the Tax field, let's get in touch! We are currently recruiting a "Relationship Manager" for a Global Consultancy firm.

You can reach out to me by email: daniel@fundspartnership.com

Happy Tax year!

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5 Common Mistakes Made in Fund Accounting

Mon, 09 Oct 2023 05:17:01 GMT

Here are five of the most common mistakes in Fund Accounting:

1. Valuation Errors:

This is perhaps the most common and consequential mistake. Mispricing securities, especially those that are illiquid or thinly traded, can lead to inaccuracies in the fund's reported net asset value (NAV). Over or underestimating the value can impact investors' returns and the fund's reputation.

2. Incorrect Income Allocation:

Misallocating income and expenses, such as dividends or interest, to the wrong fund class or shareholder can lead to discrepancies in distributions. Proper allocation is vital to ensure that each investor receives the correct amount of income or capital gains.

3. Failure to Accurately Account for Corporate Actions:

Corporate actions include stock splits, mergers, and dividend distributions. Mistakes in processing these events can skew the value of an investment and, by extension, the fund's overall value.

4. Errors in Foreign Currency Translation:

For funds that invest in foreign securities, the accurate application of exchange rates is critical. Misapplying rates or failing to account for changes in rates can lead to distorted investment values and, consequently, a misstated NAV.

5. Lack of Reconciliation:

Regular reconciliation of fund positions with broker or custodian statements is essential. Failing to do so can result in unaddressed discrepancies, be it from unrecorded transactions, mismatched dates, or other inconsistencies.

To prevent these mistakes, it's crucial for fund accountants and the associated teams to have rigorous checks and balances, use reliable and updated technology, and stay informed about industry best practices and changes.

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Potential Trends within the Investment Industry for 2023

Wed, 21 Jun 2023 04:30:00 GMT

Following up from our previous post where we shared key trends within the fund management industry, here are some potential trends that could occur within the invest ment industry for 2023:

1. Increased interest in sustainable and socially responsible investing:

With growing concerns over climate change and social inequalities, investors may prioritize investing in companies that align with their values and actively work towards positive environmental and social impact .

2. Consolidation within the industry:

As smaller firms struggle to compete with larger ones, there may be more mergers and acquisitions within the investment industry. This could lead to fewer but larger investment firms with greater economies of scale.

3. Continued growth of passive investing:

Index funds and exchange-traded funds (ETFs) have been gaining popularity in recent years, with some estimates indicating that passive investments could account for over half of all assets under management by 2025 . This trend may continue in 2023 as investors seek lower fees and greater diversification.

4. Digitalization of the investment process:

Technology will likely continue to reshape the investment industry, with more firms utilising artificial intelligence (AI), machine learning, and other technologies to improve portfolio management, risk assessment, and customer service.

5. Shift towards emerging markets:

As developed economies face slower growth rates , investors may increasingly turn to emerging markets for opportunities. This could include investments in stocks, bonds, and private equity in countries such as India, China, and Brazil.

It's important to note that these trends are subject to change based on a variety of factors, including macroeconomic events and shifting investor preferences.

Nonetheless, they provide a glimpse into what the investment industry could look like in 2023 and beyond. Leverage on our expertise and prepare for your second half of the year with us!

Find out how you can get ahead of the game when you register a vacancy with us or get in touch with our specialist:

5 Key Trends that are Shaping the Fund Management industry

Wed, 07 Jun 2023 04:30:00 GMT

As we approach the second half of 2023, we're here to share key trends within the fund management industry!

1. Sustainability

Environmental, social, and governance (ESG) investing is growing in importance, with an increasing focus on sustainability issues. Fund managers are recognizing the potential risks and opportunities associated with climate change and sustainability issues, which will likely drive increased demand for ESG-focused products .

2. Artificial Intelligence (AI)

Machine learning and AI are making their way into the fund management industry. AI tools enable asset managers to more effectively analyze data and make informed investment decisions. We can expect to see an increased adoption of AI for investment analysis .

3. Digital Transformation

The fund management industry is undergoing a digital transformation, with an increasing focus on automation and digitisation of processes . This includes the use of robo-advisors and other digital platforms for client interactions.

4. Active Management

The shift towards passive investing has been a trend for some time now, but there are indications that active management could make a comeback. Active managers are introducing innovative strategies and leveraging new technologies to offer value-added solutions to clients.

5. Alternative Investments

Alternative investments, such as private equity and hedge funds, are becoming more mainstream. High-net-worth individuals and institutional investors are allocating more funds to alternative investments as they search for yield and diversification.

Listed above are just some of the key trends that we have noticed within the market for the first half of 2023. As it is essential for asset managers to stay ahead of these trends, leverage on our expertise and prepare for your second half of the year with us!

Find out how you can get ahead of the game when you register a vacancy with us or get in touch with our specialist:

Mike Sim: The Hard Truth about the Entrepreneurship World | Capital Raising, Episode 7

Wed, 12 Apr 2023 04:30:00 GMT

In this “Capital Raising” episode, we sit down with ⁠Mike Sim⁠ where he shares his experiences in running his own business and what it’s like to be an entrepreneur for the first time.

As someone who has set up his own company and had to, unfortunately, liquidate it afterwards, he is here to share his observations and the lessons he has learned through his failures, hoping to help others who may aspire to open their own company someday.

Watch the podcast here:

Also available on:

If you’re an aspiring fundraiser or are currently looking to raise more capital for your investment fund, tune in to our Capital Raising series! With our guests having raised billions of dollars under their belt, they’re here to share insider tips that they have discovered through personal experiences, market insights and what the secret sauce is when it comes to having a successful career.

Get in touch with our specialists to find out how you can get started on your career in the investments industry.

About the Author

#SalariesinFunds2023: Private Equity Investments — Funds Partnership’s Salary Guide 2023

Mon, 10 Apr 2023 02:15:05 GMT

Director's Note

Private equity has attracted some of the greatest minds in finance globally, with a surge in job opportunities in Asia. The industry is witnessing an increasing demand for candidates with specialist expertise, leading to a rise in sector-focused recruitment. Private equity firms are taking a more strategic view of their staffing needs and are being more selective in their recruitment process.

Diversity and inclusion are gaining momentum among private equity firms as they recognize that diverse teams bring a wide range of skills and perspectives, leading to new investment opportunities and improved business performance. Another trend is the increasing focus on offering attractive compensation packages to attract the best talents. Private equity firms are offering higher salaries, bonuses, and carry, leading to a surge in compensation packages for professionals in the industry.

In conclusion, private equity firms are seeking candidates with specialist expertise, taking a strategic approach to staffing needs, emphasizing diversity and inclusion, and offering attractive compensation packages to attract the best talents in the industry.

At Funds Partnership, we are committed to helping our clients stay competitive in this rapidly evolving industry. Our Asia Pacific salary guide is an essential resource for firms looking to attract and retain top talent, and stay up-to-date with the latest industry trends and best practices.

Market Overview

Private equity (PE) firms are experiencing a significant boom across the APAC region. These firms are attracting more capital than ever before, and as a result, their investments are expected to increase in number and size.

Here are some of the hiring trends that we have observed in the private equity space in Asia:

Increased demand for investment professionals: As with the Venture Capital (VC) industry, there is a growing need for investment professionals in private equity, including associates, analysts, managers, and directors. Firms are seeking individuals with strong analytical skills, deal-making experience, and the ability t o generate attractive returns for investors.

Emphasis on sector expertise: Many private equity firms in Asia are looking to hire professionals with specific sector expertise, such as healthcare, technology, consumer goods, and financial services. This is due to the growth potential of these sectors in the region and the need for specialized knowledge to evaluate investment opportunities.

Focus on diversity and inclusion: Diversity and inclusion are becoming increasingly important in private equity, with firms seeking to create more inclusive workplaces and increase the representation of women and underrepresented groups. This includes efforts to recruit more diverse candidates, provide training and development opportunities, and create more flexible work arrangements.

Rise of Environmental, Social, and Governance (ESG) investing: As with VC, ESG investing is also gaining traction in private equity. Firms are increasingly considering ESG factors in their investment decisions and looking for professionals with expertise in this area.

Competition for talent: As the private equity industry in Asia continues to grow, competition for top talent is increasing. Firms are offering more attractive compensation packages and benefits, such as carry and co-investment opportunities, to attract and retain the best talent.

Overall, private equity in Asia is a highly competitive and dynamic industry, with a growing demand for skilled professionals who can help drive growth and generate attractive returns for investors. Firms that are proactive in their recruitment efforts, focus on diversity and inclusion, and stay up-to-date with the latest industry trends are likely to be successful in attracting and retaining top talent in the region.

Salary Guide

Download the PDF version of the Funds Partnership 2023 Private Equity Investments Salary Guide here: Funds Partnership 2023 Salary Guide: Private Equity Investments

To find out more about the Private Equity Investments industry, get in touch with our specialist:

#SalariesinFunds2023: Asset Management — Funds Partnership’s Salary Guide 2023

Mon, 10 Apr 2023 02:13:43 GMT

Director's Note

Asset management firms in Asia Pacific are expected to increase their hiring efforts in 2023. The growing demand for ESG-focused professionals, the need for technology professionals to support digital transformation, the demand for distribution professionals to expand reach in the region, and the increasing importance of compliance and risk management are the main drivers of this trend.

Sustainable investing has become a hub in the Asia Pacific region, leading to a surge in the demand for ESG analysts, portfolio managers, and investment strategists. Technology is playing a more significant role in the industry, leading to a demand for professionals with expertise in coding, data analysis, and cybersecurity. Distribution professionals are also required with strong connections across the region.

To stay competitive in a rapidly evolving industry, it is crucial for asset management firms to attract talent that can adapt to emerging trends such as sustainable investing, digital transformation, and meet regulatory obligations. The ability to hire the right talent would determine firms' capacity to stay relevant and meet the needs of a diverse investor base across the region.

Market Overview

The asset management industry has been experiencing significant changes in recent years, and these trends are expected to continue in the Asia Pacific (APAC) region. One of the major trends is the rise of exchange-traded funds (ETFs), which offer lower fees and better liquidity than traditional mutual funds. As a result, traditional asset managers are facing increased pressure to reduce fees and offer more passive investment options for their clients. This trend may lead to a decrease in salary for active fund managers, as passive strategies become more popular.

Another trend is the growing importance of environmental, social, and governance (ESG) investing. Investors are increasingly demanding that their portfolios align with their values, and asset managers are responding with more ESG-focused investment solutions. This trend may lead to an increase in salary for ESG professionals, as they become more valuable to the industry.

Finally, the increasing adoption of technology and automation is transforming the way asset managers work. Technology is enabling greater efficiency and cost reductions, but it also means that some roles may become redundant. This trend may lead to a decrease in salary for roles that can be automated or outsourced.

Overall, the market trends in the asset management industry are likely to have an impact on salaries in the APAC region, with some roles seeing increases and others seeing decreases depending on the specific trends affecting the industry.

Salary Guide

Download the PDF version of the Funds Partnership 2023 Asset Management Salary Guide here: Funds Partnership 2023 Salary Guide: Asset Management

To find out more about the Asset Management industry, get in touch with our specialist:

#SalariesinFunds2023: Buy-side Fund Finance — Funds Partnership’s Salary Guide 2023

Mon, 20 Mar 2023 04:30:00 GMT

Director's Note

The Asia Pacific region continues to be a major player in the global asset servicing and fund administration industry, with strong growth and high demand for skilled professionals. Our Asia Pacific salary guide provides a comprehensive overview of the latest salary trends for this industry, including key job roles and markets across the region.

In recent years, we have seen a growing trend towards offshoring to countries such as Malaysia, the Philippines, India, and Mauritius. While this has led to increased efficiency and cost savings for many firms, it has also impacted the job market in the region, with some roles being outsourced to these offshore locations. Nevertheless, there remains a strong demand for talent across the industry, with a particular emphasis on data analytics, technology, and regulatory compliance.

Compensation packages for top talent in the industry continue to be highly competitive, with many firms offering generous benefits and incentives to attract and retain top candidates. Our salary guide provides a comprehensive overview of the latest salary trends for key job roles and markets across the region, as well as insights into other factors that impact compensation, such as education level, years of experience, and professional qualifications.

Market Overview

Despite the global pandemic, the Private Equity space showed resilience as we see LPs allocating more capital to private equity funds. Although we believe it will continue to rise and expand, we expect firms to slow down in fundraising as the market deals with raising interest rates and tightening financial market conditions.

In recent years, financial hubs such as Singapore, Hong Kong and China have gained prominence in the global financial markets as global-level and buy-side firms are looking to increase their presence in these regions.

With this, we see asset management firms and venture capitals expanding their operations in Singapore and a steady trend in hiring for junior and mid-level roles.

In addition to this, as part of their asset diversification strategy, we have received queries from Asian and non-Asian families as they come over to Singapore to set up family offices or satellite offices to manage their wealth and investments in this region. This increase is partly due to Singapore's strong track record as a financial and wealth management hub and targeted tax incentives. Moreover, having a stable political and regulatory environment gave Singapore an edge over other financial hubs such as Hong Kong, Switzerland and the UK, resulting in a higher demand for investment professionals.

Another hiring trend we see is in the environmental, social and governance (ESG) area. The Singapore government has launched Singapore’s Green Plan 2030 as part of the nation’s efforts to drive economic growth and create jobs through sustainability. Therefore, asset managers are looking for professionals with expertise in this area to leverage on and focus on pursuing sustainable investments.

With the demand and shortage of finance professionals, talents have been getting multiple offers, making it a very candidate-driven market. Hiring managers are also facing difficulties in retaining their staff. Therefore, we have compiled this salary guide to help hiring managers remain competitive and retain talents in this tight market.

Salary Guide

Download the PDF version of the Funds Partnership 2023 Buy-side Fund Finance Salary Guide here: Funds Partnership 2023 Salary Guide: Buy-side Fund Finance

To find out more about the Buy-side Fund Finance industry, get in touch with our specialist:

#SalariesinFunds2023: Trust & Fiduciary — Funds Partnership’s Salary Guide 2023

Mon, 13 Mar 2023 04:00:00 GMT

Director's Note

Market Overview

As the world is returning to normal after the disruption of the COVID-19 pandemic and the economy fully opened up, the Trust industry has seen an uptick of interest globally not only from Asia but also Europe and America. 2022 has, however, brought alongside further uncertainties while recovering from the pandemic. While geopolitical unrest has devastatingly impacted businesses as markets rattled and inflation surged, ultra-high-net-worth clients and families have thus faced greater complexity than ever. The challenges and complications arisen have significantly impacted numerous affluent individuals and families to reconsider the importance of ascertaining proper succession planning is in place to ensure the effective transfer and preservation of wealth to better prepare against future uncertainty.

Aligning with this trend, more super-rich families are setting up offices in Singapore with the number of such offices nearly doubling from two years ago, to manage their wealth and address their other utmost concerns which include family governance, health and portfolio diversification. This influx of businesses has translated to a higher demand for qualified and experienced talent with close ties and networks to penetrate and cater to this highly specific and dynamic market. Against this highly competitive backdrop, employers are paying top dollars in this candidate-short (and driven) market to fill these positions within their ranks. Aside from struggling to fill open positions, employers are also battling high turnover rates which lead to an increased focus for companies to look into retaining their talents via industry-benchmarked packages and implementing employee-focused initiatives to enhance their experience, engagement and retention.

As a specialist in this sophisticated industry, we have compiled this Salary Guide to help employers to start on the right foot and attract and retain great talent in 2023.

Salary Guide

Download the PDF version of the Funds Partnership 2023 Trust & Fiduciary Salary Guide here: Funds Partnership 2023 Salary Guide: Trust & Fiduciary

To find out more about the Trust & Fiduciary industry, get in touch with our specialist:

#SalariesinFunds2023: Funds Administration — Funds Partnership’s Salary Guide 2023

Mon, 27 Feb 2023 03:32:02 GMT

Director's Note

Within the asset servicing and fund administration industry, we have seen a high demand for professionals in areas such as fund accounting, custody, transfer agency, and middle office operations. In addition, there is an increasing focus on ESG investing, diversity and inclusion, and technological expertise. This has led to a growing need for professionals with skills and expertise in these areas, as well as a willingness to adapt to new technologies and processes.

Compensation packages for top talent in the asset servicing and fund administration industry continue to be highly competitive, with many firms offering generous benefits and incentives to attract and retain top candidates. Our salary guide provides a comprehensive overview of the latest salary trends for key job roles and markets across the region, as well as insights into other factors that impact compensation, such as education level, years of experience, and professional qualifications.

At Funds Partnership, we are committed to helping our clients stay competitive in the rapidly evolving asset servicing and fund administration industry. Our Asia Pacific salary guide is an essential resource for firms looking to attract and retain top talent, and stay up-to-date with the latest industry trends and best practices.

Market Overview

Despite the pandemic, the Fund Administration industry has seen tremendous growth in the past years and is projected to expand continuously.

Fueled by the launch of the Variable Capital Company (VCC) structure in 2020, we have observed an influx of funds and Family Offices setting up in Singapore, with a focus on Private Equity and Real Estate funds. Fund Administrators that were initially focused on Mutual and Hedge funds have also started migrating their operations offshore while pivoting their focus to Private Equity and Real Estate funds.

In the past year, we have seen a rapid increase in demand for talent in this space. As the market gets increasingly competitive, plug-and-play candidates are demanding over 20% salary increments for their next move. In order to retain their employees, employers are also conducting salary reviews to stay competitive in the market.

In this report, we would like to share the prospects of this market through the compilation of our data and the future developments of the industry.

Salary Guide

Download the PDF version of the Funds Partnership 2023 Fund Administration Salary Guide here: Funds Partnership 2023 Salary Guide: Fund Administration

To find out more about the Fund Administration industry, get in touch with our specialist:

The MOST Relevant Skill to Look Out For in 2023

Wed, 22 Feb 2023 02:23:50 GMT

What skill should employers look out for in 2023?

About a decade ago, people in the tech sector and the frontier thinkers had already started talking about how IA will disrupt and shape the future of work and jobs. Today, in 2023, people outside the 2 groups start to feel that the world is really changing after the launch of ChatGPT, an AI chatbot.

We are at the dawn of transiting from the Information era to a Knowledge era. But we are still asking and looking at skills and jobs like we are still in the Industrial era or Computer era.

In the Knowledge era, there is no "Which are the most relevant skills in your industry?". There is only, "Which bag of skills...". We need to be cross-trained. People skills, technology skills, industry specific skills and other relevant skills that form the "Bag of Skills".

If there is only one skill that you want me to name, I would say, the most relevant skill to look out for in 2023 and beyond, is the "Skill of acquiring Skills" .

Thank you, Get Hired by LinkedIn News Asia for reaching out for my comment on this topic .

About the Author

The Effects of Creating Offshore Teams to Reduce Cost

Tue, 07 Feb 2023 02:44:54 GMT

Do you think that creating an offshore team is a “quick fix” band aid to drastically reduce cost? Does it have any long-term effects on the current team and company?

Many of my clients are looking to hire or have hired their offshore teams – solely to reduce cost and improve efficiency. I have seen many junior team members in Singapore/Hong Kong who are slowly being replaced by offshore teams to reduce administrative/back-end duties. It would definitely reduce cost, but the question is:

- How much time would it take for offshore team to familiarise themselves and how long would the team take to mentor/coach?
Thinking back, during my PwC days, many seniors and I spent plenty of time figuring out how best to coach and give instructions to the offshore team as it could be difficult due to the time difference, not being able to speak f2f, language barrier and clash of public holidays with working days for example. I used to dislike getting assistance from offshore teams as I could complete the work / task on my own, saving time for reviewing and coaching in the process.

- How would you utilise the saved cost?
If the saved cost is going to be sitting in your P&L, would this be sustainable approach? Would it be more helpful if you invest it into projects that could automate and streamline the process?

- In the future, would it then be more difficult to hire experienced staff (plug & play) when there aren’t many companies willing to train/mentor inexperienced graduates/mid-career switch joiners?

You can reach out to me for a confidential chat on any insights including any potential hiring for probably in the FinTech space (e.g. software developer, programmers), Funds Partnership has its own arm of tech specialists to assist you in your search of tech team.

Feel free to connect with me and of course, coffee is on me!

About the Author

Michele Lee: The Key to Building Relationships is to Listen | Capital Raising, Episode 6

Wed, 01 Feb 2023 05:00:00 GMT

Michele Lee , Managing Director at Capstone Partners, joins us in this “Capital Raising” episode where she talks about how listening actively has played a key role in forging her personal and professional relationships.

Apart from being exceptional in storytelling, she believes a fundraiser must be able to actively listen to understand the needs of the people they are pitching to. Even if you are unable to propose an immediate solution, listening equips you with new knowledge and brings light to potential opportunities that would have otherwise been unknown.

It’s all about investing in a sustainable relationship for the long run!

Watch the podcast here:

Also available on:

Get in touch with our specialists to find out how you can get started on your career in the investments industry.

About the Author

The Widening Expectation Gap between Clients and Candidates

Tue, 31 Jan 2023 02:12:56 GMT

With this current “inflated” job market, I noticed that there is bound to have two sides to every story.

One being candidates are excited to explore and able to demand a much higher salary (up to 40%) with a plug and play experience.

Meanwhile, on another side to it. Spoken to one of my client in the funds space (company is independently owned), he mentioned that the current inflated market has resulted in many constraints within the company… 1) unable to fight with bigger companies for good candidates as this will eventually affect other expenses/budgets 2) resorted to hire less experienced staff and train them up 3) fear of staff leaving the firm

This is genuinely tough due to the expectation gap - “companies can pay based on competitive market increment” and “candidates are only looking out because of money”.

I feel as a recruiter this is where I chip in and understand both sides, having the opportunity to be an independent consultant gives me an edge to match make suitable candidates to the respective companies. Feel free to share with me your opinion at the comments section or email me > suling@fundspartnership for any confidential talks.

About the Author

When Is Switching Jobs Right for You?

Mon, 12 Dec 2022 09:15:41 GMT

"What if you change jobs and regret it?" I briefly saw this on a Straits Times article and the first question that came up to my mind was... "Why?"

I have encountered many candidates that were looking out after a few months in a new role and most are due to mismatch in expectation of the role which I feel that this can be mitigated by deeper understanding of the role/company/reporting manager.

There are many ways to get to know a company better and having the assurance that the decision to move is well planned. Some tips to self-check before changing jobs:

1) What is your push factor e.g reason of looking out? Similarly, hiring managers/recruiters would ask you the same to further understand you and your situation better. Just make sure that you are not looking out because of the wrong reason e.g. looking out because everyone is doing so?

2) Did you get the role through a recruiter? If yes, check with them what you want to know better and don't be afraid asking "awkward/tough" questions that matters to you. This can help both you and the recruiter to get to know the company better if he/she does not have the answer yet.

3) Have you done your due diligence in finding out more about the company? Check with your peers/network within the same industry on what you prioritise in a job/career (e.g. great boss, culture, compensation, progression) . For example, having an attractive compensation would be something you are looking for. Some of the questions you might want to ask would be... are the company X a good pay master? How are the perks/benefits of th is company X? As it is subjective, this will differ person to person depending on what you prioritise.

Would love to hear you out if you have any relatable experience to share, happy to have a private chat and discuss further!

About the Author

Menka Sajnani: What it means to be a General Partner | Capital Raising, Episode 5

Wed, 09 Nov 2022 04:30:00 GMT

“You can’t build a fund if you don’t know how to fundraise.”

Menka Sajnani , former Asia Head of Fundraising & Investor Relations at B Capital Group, joins us in this week’s episode of the “Capital Raising” series as she shares with us the ins and outs of the trade, and why she thinks aspiring individuals looking to join the investments industry should consider fundraising.

With 15 years of experience across fund of funds investments, fundraising and investor relations and having been a Limited Partner and General Partner herself, she is here to share with us her unique perspective in the complex world of fundraising.

Watch the podcast here:

Also available on:

Get in touch with our specialists to find out how you can get started on your career in the investments industry.

About the Author

Being Different is a Good Thing

Mon, 07 Nov 2022 02:13:47 GMT

How do you stand out from the crowd or among many other candidates?

During my exchange in China, the local students were sharing with us the culture and interesting facts about China. Being one of the largest country in the world with billion of citizens, the reason why majority of the people speaks loudly is because it is a necessity to stand out from the crowd. I feel that there might be some truth to it (FYI: some say it display honesty and auspicious - imitating the fire crackers) This works the same for different situations, that's why I believe in diversity - where being different is how we set ourselves apart and also bring us all together.

Linking it to a professional setting - Thinking back, how I differentiated myself from other candidates would be showcasing something extra in addition to my scope of work. Mentioning your extra curriculum or activities would be helpful in setting yourself apart. For example, I would share with interviewers on the overseas secondment opportunities to Myanmar & Australia. Understanding the fact that the hiring managers interviewed many other auditors with similar background, showcasing something different would pique their interest.

It is not too late to find out what you can value add to your career/company and eventually your resume, ask yourself what more can you do and how can you differentiate yourself from others! #foodforthought

Would love to hear you out if you have a different opinion/experience, happy to have a private chat and discuss further! Feel free to reach out to me @ my email > suling@fundspartnership.com

About the Author

The Startup Pill features Funds Partnership on Best Bukit Merah Human Resources Startups & Businesses List

Tue, 25 Oct 2022 08:00:40 GMT

The Startup Pill selects companies based on innovation, growth, strategy, management and societal impact.

Funds Partnership is featured on The Startup Pill's list of 25 Best Bukit Merah Human Resources Startups & Businesses – Revolutionising The Human Resources Industry .

We are proud to be listed alongside like-minded companies that share the same vision as we do - and that is to impact individuals and empower economies through recruitment.

Read the full article here:

https://startupill.com/25-best-bukit-merah-human-resources-startups-businesses-revolutionising-the-human-resources-industry/

About the Author

4 Main Reasons Candidates Look Out

Fri, 21 Oct 2022 02:39:44 GMT

Having been offered a role is a great thing to celebrate!

But in the midst of this joy, it is important to remember what your priorities are, and the reason you're looking out in the first place.

Over the years, I have realised that there are 4 main things people look out for when they are considering their move.

1. Salary & Compensation
- Higher salary?
- Better flexible benefits?
- More days of leave?

2. Work Environment
- How serious is this company about your career progression?
- How's the working culture here like?

3. Boss
- This is pretty self explanatory isn't it! Good boss = good employee :)

4. Job Scope
- Is this aligned with your career goals?
- How do you feel about doing these tasks on a weekly basis?

Listing out the above in order of priority will help put things into perspective. Perhaps after careful consideration, the one that you thought was more important may turn out to be of lesser priority.

Every career move you make is important, so choose it wisely!

Do you know of anyone exploring further career options?
Contemplating if they should accept the offer?

Do refer them over to me!
Or if you are looking for yourself, I'll be happy to speak with you too!

About the Author

Reasons YOU may Struggle when Job Hunting

Thu, 20 Oct 2022 02:31:54 GMT

There can be multiple reasons why it is so hard for YOU to look for a job, spoken to more than 2000 candidates and I have observed the following top 3s!

1) Short term goals
I have seen candidates jumping out of a company that allows them to achieve their long term goal of specialising in the Private equity funds to a company dealing with mainly retail funds for an insane increment % - this is very rare but I have seen this!

The reason why it takes a lot to switch is because it dilutes your specilisation and at the same time, in this market most employers would prefer someone with relevant PE funds experience rather than someone from retail funds. You need to ask yourself if the instant gratification from getting a WAY higher increment worth risking what you have?

2) Lack of understanding for the job(s) you applied to
I remember previously when I was on a desperate job hunt, I believed that the more CVs = higher chances of getting a job. Very desperately popping CVs to any companies (sent out to 20 different companies/day) that surfaced on Linkedin and job portals.

The lack of research and knowledge on jobs I applied to is the main reason why I did not hear from them. Only 2 out of the total 1000 companies got back to me and What I meant by researching/ understanding is to study the JD, speak to recruiters to get some insights on the role and connect with relevant management/seniors in the space to understand the requirements.

Don't send out your CV blindly in hopes of getting a chance, this is called gambling and not thinking it through!

3) Career switch with no relevant trainings etc
Nowadays, it is very common for people to do a mid career job switch to a totally different industry/role. Having said that employers require you to put in the effort to pick up courses/trainings to show that you are committed/keen.

Example: it is hard for companies to hire an accountant for a data scientist position because of the lack of technical programming skills. Online courses sponsored by various learning lab and universities can better equipped you for the upcoming switch and this is what you can do to convince your future employer that YOU ARE READY.

Sounds relatable? Fret not, market is still active and there is still time to look for a job, all you need to do is to drop me a message/email me ( suling@fundspartnership.com ) to have a confidential chat.

About the Author

Key takeaways from “An Afternoon with James Caan CBE”

Wed, 12 Oct 2022 08:31:14 GMT

Funds Partnership was delighted to attend the afternoon event hosted by Recruitment Entrepreneur and CXC Global, on October 11 ^th 2022.

We were really in for a treat: listening to James Caan talk about his Rags to Riches story with $1bn in exits and 3.4m followers on LinkedIn; and Farida Charania’s speech on Neurodiversity as the next talent pool for employers.

The event was wrapped up by a great panel of speakers: Kanan Chettiar, Yvone Foong, Farida Charania and Johnson Chng; as they discussed about driving businesses forward in Singapore, identity security and sustainability.

Key takeaways

James Caan shared about his story and the key areas to look out and improve on when scaling a business. He covered three key aspects : Strategic, Operational and Financial aspects that business owners need to look out for when scaling their businesses.

As an investor, James also shared 3 core attributes investors look out for in an Entrepreneur:

Ability to be a market expert
Entrepreneur’s ambition
Entrepreneur’s work ethics

About Funds Partnership

Funds Partnership is a special kind of recruitment business. We do not just want to provide our candidates and clients with an amazing match, we also want to be the kind of company that is around, forever. We are all about Impacting Individuals and Empowering Economies through what we do best : recruitment. If you would like to be part of a high-performance team, drop us a note to my colleague Geana at geana@fundspartnership.com .

About the Author

World Mental Health Day: Creating a Healthy Work Environment

Mon, 10 Oct 2022 02:34:54 GMT

"Bad performance this week."
"Why are you always so emotional?"
"Wow, is this the way you have always handled your clients?"
"Achieved only 90% out of 10 0% of your sales target."
... and the list go es on.

A comment that is being made about your work performance may shape the way you think of yourself for a long period of time. The workplace can be an environment that highlights prevailing issues that an individual might already be dealing with daily.

Today is World Mental Health Day !

Let's work towards creating a better work environment for everyone.

1. It could be in creating leave benefits like "Time-Offs" specially for when people are feeling burnt out or emotionally drained.

2. Simply being mindful of the comments made at work: change a bad remark to a constructive feedback.
- From "Bad performance this week." to "Is there anything we can do to help you better at work the next week?"

3. Constantly check in with your team members - they may be going through things that they may not share with you enough.

As Big Sean would say, "One Man Can Change The World."

About the Author

Forget "Quiet Quitting": Here are the Reasons why Candidates are Looking Out

Fri, 07 Oct 2022 08:28:48 GMT

There are many reasons why employees are looking to leave. Putting aside the recent "Quiet Quitting", these are the few reasons why some are looking out:

1. Money
In times of inflation, everything seems to be going up except one thing: SALARY . Over the past quarter, I've spoken to over 100 candidates and at least 70% of them are expecting an increment of 20% and up. Do you have that particular skillset that your potential employer is looking for to deserve that increase? Of course, everybody will quote an expectation slightly higher in order to not get lowballed. So reach out to a specialist recruiter (like myself) for further discussions.

2. Career
"I did not get a promotion during the pandemic period". I hear this statement often, especially from candidates that graduated during the COVID-19 period. Of all the candidates I've spoken to, 86% of them are looking to move due to the lack of progression opportunities. So, speak to your boss for that promotion. Or reach out to me for potential opportunities!

3. Boss
Came across this statement, "quiet quitting happened because of bad bosses, not bad employees". The word "bad" is subjective but I'm sure everyone reading this knows what your own definition is. It's 2022. Let's put micromanagement behind our backs.

4. Company / Culture
Work From Home is the new norm. Of course, with the ease of the pandemic, many firms are transiting to Hybrid Working. Being a good culture fit to the team is important too! So do your KYC before agreeing to onboard just because the potential employer is offering you more money. Your mental wellbeing is equally important.

If you are an employer looking to expand your team or if you are unsure about the next step in your career, drop me a message via LinkedIn or email me for a confidential discussion. Coffee's on me!

About the Author

Adopting the "Farming" Mindset

Wed, 05 Oct 2022 08:19:09 GMT

“Farming” has been something that resonates with me - be it personal relationship and/or work related!

Thinking back, I had a difficult time with my mother and my relationship with her was quite distant. There was a clear distinction of favouritism and my aunt will always point it out infront of us kids. As time passed, I have learnt to accept that fact.

But one day, I finally decide to change my mindset and behaviour (paradigms shift happened- you can read more in the book '7 habits of highly effective people') - I started to view and do things differently, emphasised on positive words/actions, little things such as welcoming my mom when she is back from work & always with a smile. After a year or so, it definitely worked out well because right now I don’t know if I can sleep a night without giving her goodnight hugs and kisses!

What I’m trying to show here is, farming takes time and be patient (trust the process!)

This can be applied everywhere: relationship building, finding jobs, sharpening your technical/soft skills ,investing in talents in your company and coaching/guiding your staff as a manager.

Understand that this is a long game, like many companies investing in talents especially into fresh graduates/mid career switchers, companies will mostly be rewarded based on how quick they are in picking up things. Recently I’m starting to notice number of my clients/companies are opening up more opportunities to fresh pair of eyes, it’s certainly a good change for a start that could potentially bring diversity and creativity!

Feel free to share your views or thoughts on this "farming" mindset!

About the Author

Current Trends when it comes to Hiring Candidates

Mon, 03 Oct 2022 07:41:44 GMT

Based on my observation and many would have known, it is a candidate driven market at this period, there are handful of commonalities in regards to why co mpanies are facing issues in their hiring process looking for the most suited candidates.

Top reasons could be:

1) Long approval process - to review candidates' profile/securing an interview and/or offer. In this current market movement, companies might need to speed up their recruitment process as candidates are no longer as "patient" as before. The current lead time that may be more ideal would be maximum 1 -1.5 weeks (+ recruiters keeping the candidates warm) from interviewing all the way to the offer stage.

2) Bidding war among companies - retaining employees have always been an issue, counter offers are one of the most straightforward method to retain staff and this has also resulted in an inflated pay raise. This too will prolong the decision making for both companies and candidates.

3) Flexible working arrangement - one of my client that requires staff to work in office for 5 days a week has seen a number of candidates rejecting them as many of them love the freedom to pick, it will definitely help with a hybrid working arrangement for a start!

Definitely did not cover everything! Would love to hear you out if you are facing any of the above or any other reasons, we can hop on a coffee meetup or even a confidential chat if you need any assistance! Feel free to reach out to me!

About the Author

This is Why you are Not Getting a Response

Sat, 24 Sep 2022 06:44:31 GMT

Last Friday, my candidate posed me a question:

"Why am I not getting any responses for the roles that I have submitted my resume for?"

I figured that these could be the reasons why.
1. You are overly qualified for the role
2. Your resume was not tailored to fit job description
3. You may just be 1 out of 100 applicants applying for the job

Not all hope is lost - here are some tips!
1. Keep a lookout for job requirements of the role. (e.g. Number of years of experience)
2. Refer to job descriptions of your dream job. Add in keywords from that JD to your current resume.
3. Don't let your resume be one of those that drowns! Headhunters are here to help - with direct contact to hiring managers, we are able to put your resume back on top of the list.

About the Author

SuperReturn Asia: Key Takeaways from the leading Private Capital Conference in Asia

Fri, 23 Sep 2022 07:48:03 GMT

SuperReturn Asia is Asia's leading private capital conference where key decision-makers gather to network and to discuss the latest insights in Asian private markets.

Thanks, Ayyaz Ahmad for sending us to attend the SuperReturn Asia .

It was an insightful event to hear from expert speakers on the latest developments in Asian private markets; what are the latest trends, how to generate alpha, and what the challenges are. On top of that, excitedly, I also got to see familiar faces in person!

Adding to that, this event is especially meaningful too, as this is the first time SuperReturn is held in Singapore and is the first high-profile conference held in person after two years of global pandemic measures.

My Key Takeaway

South and Southeast Asia is most interesting but is also the most difficult, as in; How to get good local managers, good local talents, and being on the ground.

And yes, those concerns seem to be the common topics that surfaced in the conversations I had with some of the delegates looking to set up shops here in Singapore, to capture the vast opportunities in Asia.

And for those who have missed the keynote address by Ravi Menon - Managing Director, Monetary Authority of Singapore here is the link to his speech text: https://lnkd.in/dJEsUjNC

Others

A great shout out to Mini Zhao , who was managing her exhibition stand all by herself, while others would usually have at least 2 people to manage.

And I am glad to have my colleagues: Daryl Emmanuelle Ong and ShiHui Kong , participate in this event, despite the last-minute notice. And also thanks to Geana Ong and Daphne Tan for getting the logistics sorted. You are awesome, ladies! The power of teamwork is amazing!
https://lnkd.in/dviUv6hS

Post Event

Happy to catch up over coffee if you are looking for opportunities or looking for talents, or simply to share market ideas and insights!

Funds Partnership is a special kind of recruitment business. We don't just want to provide our candidates and clients with an amazing match, we also want to be the kind of company that is around forever. We empower our people to SHINE. If you would like to be part of a high-performance team, drop us a note to my colleague Geana at geana@fundspartnership.com

About the Author

Greg Savage: Investing in Recruitment | Capital Raising, Episode 4

Wed, 14 Sep 2022 03:45:57 GMT

On this episode of the Capital Raising series, we had the amazing opportunity to sit down with the one and only Greg Savage - Advisor, Owner and Director for 18 recruitment and HR Tech companies in 4 countries.

Having more than 40 years of experience in the recruitment industry and 14 board appointments, he’s here to share with us what investing in recruitment is truly about, what investors are actually looking out for, and his take on modern day recruitment practices.

Watch the podcast here:

Also available on:

Get in touch with our specialists to find out how you can get started on your career in the investments industry.

About the Author

Michael Lints: In the mind of a Fundraiser | Capital Raising, Episode 3

Tue, 05 Jul 2022 04:02:57 GMT

Michael Lints , Partner at Golden Gate Ventures, sits down with us as we discuss the key factors that venture capitals look out for before putting the money on the table.

With more than two decades of experience across Europe and Asia, he has helped raised over USD 60million for Golden Gate Ventures and its portfolio companies, including helping to raise later stage rounds from external investors as well as leading two early strategic acquisitions. He’s truly at the top of his game!

Watch the podcast here:

Also available on:

Get in touch with our specialists to find out how you can get started on your career in the investments industry.

About the Author

A Career in Investments Accounting | ACCA Virtual Careers Fair 2022

Wed, 15 Jun 2022 15:26:34 GMT

Our specialists Jacqueline Lee & Lee Mei Xin had the opportunity to share some key insights in investments accounting for the Virtual Careers Fair 2022 held by ACCA Singapore!

In this quick 7 minute video, they’re here to let you know what Fund Accounting is actually about, how it takes your accounting skills one level higher, the benefits & usual career path of being a Fund Accountant, and how YOU can get into the lucrative yet highly Funds industry.

If you’re an aspiring accountant interested in exploring your options in the Funds industry, we’d love to talk to you!

Reach out to Jacqueline Lee at jacqueline@fundspartnership.com or Lee Mei Xin at meixin@fundspartnership.com to get started.

Sameer Dev: The Importance of Knowing Your Client | Capital Raising, Episode 2

Wed, 27 Apr 2022 15:30:41 GMT

Sameer Dev , CEO & Managing Director of ASK, International, joins us in this episode of the “Capital Raising” series – where he discusses the importance of knowing your client when it comes to being a fundraiser.

With over 25 years of experience in the Asset Management industry, he has successfully raised over USD 15billion across Public & Private Markets, and Alternate asset classes in APAC and the Middle East.

If you’re looking for tips on how to tackle the two aforementioned markets, tune in to find out!

Watch the podcast here:

Also available on:

Get in touch with our specialists to find out how you can get started on your career in the investments industry.

About the Author

Jalil Rasheed: Conquering Malaysia at 26 | Capital Raising, Episode 1

Wed, 13 Apr 2022 15:37:45 GMT

Meet our guest, Jalil Rasheed – experienced global CEO, Chairman, Investor – as we discuss what it takes to be a successful fundraiser in Southeast Asia.

Not only has he built Aberdeen’s global Shariah business in Malaysia, then became the (now former) Group CEO of Berjaya Corporation Berhad; this Angel Investor has successfully raised over USD 10billion throughout his career. Truly, no one knows this fundraising game better than he does!

Watch the podcast here:

Also available on:

Get in touch with our specialists to find out how you can get started on your career in the investments industry.

About the Author

2021 December Market Report: Acquisitions & Adapting to Market Trends

wow@shazamme.com (Default Author) — Thu, 20 Jan 2022 15:42:01 GMT

As an agency, we see 278 new jobs created across the APAC market.

Here are our main findings:

Multiple acquisitions are happening in the Private Equity space – primarily revolving around infrastructure, technology, and healthcare projects. Preferential hirings for Analysts and Associates with relevant portfolios and experiences.
The Financial Action Task Force (FATF) has revised its grey list for countries, Mauritius and Botswana, to no longer be subjected to increased monitoring.
Investors are enthusiastic about prospects for equities; as net inflows at least doubled in December compared to November 2021.
Strong hiring push by Digital banks and Fintech platforms to meet operational needs, positions include compliance, legal, trade operations and finance.
1 in 8 candidates are getting counter offers this month, employers are now adapting and implementing new staff welfare benefits such as increase in annual leave days, offering a more comprehensive insurance coverage, etc.

Get the full infographic here: 2021 December Market Report Infographic

For more explanation about these trends, please reach out to our consultants:

Ayyaz Ahmad – Investments

Daphne Tan – Candidate Manager

Justin Lee – Funds Administration

Lyn Thum – Sales & Business Development

Daryl Ong – Buy-Side Finance

Keegen Quek – Compliance

2021 November Market Report: Strong hiring demands in the coming year

wow@shazamme.com (Default Author) — Thu, 23 Dec 2021 15:57:15 GMT

As an agency, we see 295 new jobs created across the APAC market.

Here are our main findings:

Institutional Asset Managers are accelerating outsourcing efforts for middle-office and back-office components, particularly for data management solutions.
Investors’ appetite for private assets gets stronger with strong returns and growing inflows in 2021, strong hiring demand for professionals in private markets are expected.
Increased regulatory complexities are driving tighter governance, risk and compliance requirements for Hedge funds; fund managers are investing more in data transparency practices and operations.
ESG-related hirings – increase in demand for Investor Relations professionals to cater to investors’ reporting needs; increase in Fund Raisers’ hirings as more institutions focus on climate funds (energy, infrastructure, carbon, etc)
Health-Tech firms and start-ups are well-positioned for success coming 2022; with growth in venture capital and private equity funding, this sector expects more hiring demands for investment and operational support.

Get the full infographic here: 2021 November Market Report Infographic

For more explanation about these trends, please reach out to our consultants:

Ayyaz Ahmad – Investments

Daphne Tan – Candidate Manager

Justin Lee – Funds Administration

Lyn Thum – Sales & Business Development

Daryl Ong – Buy-Side Finance

Keegen Quek – Compliance

Working in Singapore as a foreigner: Obtaining the right work pass for you

wow@shazamme.com (Default Author) — Tue, 07 Dec 2021 16:01:43 GMT

WHAT IS IT?:

All foreigners who intend to work in Singapore must have a valid work pass, most commonly known as a work visa. These passes are issued and regulated by the Ministry of Manpower.

We’ve narrowed it down to these 3 work passes suitable for Skilled Workers and/or Professionals.

S Pass

Allows mid-level skilled staff to work in Singapore.

Employment Pass

Allows foreign professionals, managers and executives to work in Singapore. Employers must also demonstrate that they have fairly considered all jobseekers.

Personalised Employment Pass

For high-earning Employment Pass holders and overseas foreign professionals. It is not tied to an employer and offers greater flexibility than an Employment Pass.

THE BREAKDOWN

References:

https://www.mom.gov.sg/passes-and-permits

https://www.mom.gov.sg/passes-and-permits/s-pass

https://www.mom.gov.sg/passes-and-permits/employment-pass

https://www.mom.gov.sg/passes-and-permits/personalised-employment-pass/eligibility-and-requirements

https://www.mom.gov.sg/faq/employment-pass/what-is-the-qualifying-salary-for-hiring-or-renewing-an-ep-in-the-financial-services-sector

2021 October Market Report: Expansions, Upgrades & Overall Growth

wow@shazamme.com (Default Author) — Thu, 25 Nov 2021 16:06:16 GMT

As an agency, Funds Partnership Asia sees 269 new jobs created across the APAC market.

Here are our main findings:

Funds services providers such as Fund Administration firms, Audit firms, Banks, etc are expanding their onshore & offshore operations.
1 in 3 candidates have accepted or received counter offers this month – up to 25% increase in base salaries.
Private Equity firms are experiencing record-breaking fundraising, rising dry powder and faster fundraising cycles. Thus, rush in hirings for proven Fund Raisers.
Positive changes for staff welfare benefits – buy-side and sell-side firms are acknowledging and adapting to the new era of working. Firms are increasing employee benefits, introducing more hybrid working models and remote working options.
Investors’ appetites are growing on digital assets with Crypto and Fintech firms, leading to Digital asset investment products seeing their 12th week of inflow & increase in AUM

Get the full infographic here: 2021 October Market Report Infographic

For more explanation about these trends, please reach out to our consultants:

Ayyaz Ahmad – Investments

Daphne Tan – Candidate Manager

Justin Lee – Funds Administration

Lyn Thum – Sales & Business Development

Daryl Ong – Buy-Side Finance

Keegen Quek – Compliance

Working in China with a Visa: Obtaining a Chinese Z-Visa

wow@shazamme.com (Default Author) — Thu, 28 Oct 2021 16:15:20 GMT

WHAT IS IT?

The Z-Visa is one of the various Chinese visa categories. It is issued to persons who intend to work in China.

The embassies and consulates of the People’s Republic of China stationed abroad or other agencies stationed abroad entrusted by the Ministry of Foreign Affairs are responsible for issuing foreigners’ entry visas abroad.

APPLICATION DOCUMENTS

The following basic documents are required for a Chinese visa application across all categories:

Passport

Original passport with at least six months of remaining validity and blank visa pages, and a photocopy of the passport’s data page and the photo page if it is separate.

2. Visa Application Form and Photo

One completed Visa Application Form with a recently-taken color passport photo against a light background attached

3. Proof of legal stay or residence status

If you are not applying for the visa in the country of your citizenship, you must provide the original and photocopy of your valid certificates or visa of stay, residence, employment or student status, or other valid certificates of legal staying provided by the relevant authorities of the country where you are currently staying.

4. Photocopy of previous Chinese passports or previous Chinese visas

If you are applying for a Chinese visa for the first time, you should provide your previous Chinese passport held and a photocopy of its data page.

If you have obtained Chinese visas before and want to apply for a Chinese visa with a renewed foreign passport that does not contain any Chinese visa, you should present the photocopy of the previous passport’s data page and the photo page if it is separate, as well as the previous Chinese visa page.

SUPPORTING DOCUMENTS

To complete your Z-Visa application, you will need an Invitation Letter of Duly Authorized Entity or Confirmation Letter of Invitation issued by relevant Chinese entities AND one of the following supporting documents:

Foreigners Employment Permit of the People’s Republic of China issued by Chinese government authorities for Human Resources and Social Security;
Permit for Foreign Experts Working in China or Notification Letter of Foreigners Work Permit in China issued by the State Bureau of Foreign Experts;
Registration Certificate of Resident Representative Offices of enterprises of foreign countries(regions) issued by Chinese authorities of industrial and commercial administration ;
An approval document for commercial performances issued by the Chinese government authorities for cultural affairs or Invitation Letter of Duly Authorized Entity or Confirmation Letter of Invitation issued by relevant Foreign Affairs Office of provincial governments of China; OR
Letter of Invitation to Foreigners for Offshore Petroleum Operations in China issued by China National Offshore Oil Corporation.

References:

http://cs.mfa.gov.cn/wgrlh/lhqz/lhqzjjs/t1095035.shtml

http://losangeles.china-consulate.org/eng/visa/chinavisa/t1541771.htm

2021 Q3 Market Report: Hiring Trends in the Funds Industry

wow@shazamme.com (Default Author) — Thu, 21 Oct 2021 16:21:32 GMT

In Q3 2021, Funds Partnership Asia sees the APAC’s funds industry labour market showing a broad improvement in comparison to Q2 2021 with over 658 new positions created!

Here are our main findings:

Market rates of salaries have increased up to 25% in Q3 2021. This is due to the lack of candidate supply and counter-offers at an all-time high.
Investors and fund managers in APAC are looking to dedicate more ESG strategies and integrate more ESG efforts into their investment process. Candidates with ESG knowledge and skills are highly in demand.
Senior private equity investment professionals with fundraising capabilities and deal sourcing networks are 80% more likely to get an interview than someone who only possesses either.
Typical candidate salary increment expectations are between 10% to 25%, with the exception of candidates in China looking at between 25% to 35% increment (excluding pool of candidates doing sales, revenue generation, and business development roles)
The APAC funds industry is active at the moment – overall, most hirings are focused on back-office hires such as Finance, Corporate Secretarial, Middle Office Solutions, etc.
More buy-side firms are setting up their back-office teams in Singapore and Hong Kong, key hires are Finance professionals, Fund Operations professionals, and Compliance professionals
Sales and Business Development professionals with a proven track record and who possess a strong network and relationships with LPs and GPs are highly sought after, with the potential of 30% to 45% upside on salaries.

Get the full infographic here: 2021 Q3 Market Report Infographic

For more explanation about these trends, please reach out to our consultants:

Ayyaz Ahmad – Investments

Daphne Tan – Candidate Manager

Justin Lee – Funds Administration

Lyn Thum – Sales & Business Development

Daryl Ong – Buy-Side Finance

Keegen Quek – Compliance

Variety or Seniority Hires | This or That

wow@shazamme.com (Default Author) — Wed, 13 Oct 2021 16:34:35 GMT

In this series, we have navigated through choosing between insourcing or outsourcing talent acquisition; choosing to go contingent or commit to a retainer with a recruitment firm, outsource your hiring worries to a generalist or specialist recruitment firm and finally – to hire based on experience or potential. In this final chapter of the series, a common dilemma hiring companies experience is to hire a large quantity of junior talent; or a few experienced hires to achieve the business goals.

Is there a straight answer to this? Unfortunately, it really is never a straight path to the moon. Here are 3 key factors to decide between hiring a large pool of junior candidates or a couple of experienced candidates to get the job done.

#1 – Outline of the Job

It’s important to first outline the purpose of this hire & the scope of work entailed – is there a surge of business coming in and hence you require more hands-on-deck? Is this a replacement hire? Would it be wise to hire more than one person for the role? The job description is also crucial to help identify if any specialised skills are required to accomplish the task.

#2 – Your Hiring Budget

Having a clear idea of your budget and speaking to a recruitment firm that recruits for your industry are great starts to identifying if mass hiring is the way to go. The recruiter of choice would be able to give you a macro-level insight if the job description entailed is too sophisticated for someone with little or no relevant experience.

#3 – Dedicated Training Time

Mass hiring a bunch of junior hires would require dedicated training and mentorship. With everyone learning at a different pace, it’s important to consider how much hand-holding the hiring manager can give to new hires. That said, experienced hires would also require runway time and training to adapt to your local systems and processes.

With the above critical considerations, it is also important to note that these three points are co-related. For example:

A flexibly reasonable budget opens up parameters for you to source more experienced talents with adequate technical knowledge. This allows a shorter runway time for the incumbent to get up to speed with the task on hand and reduces the training time needed. Whereas working with a strict budget might limit companies with a smaller talent pool that may not possess the same years of experience as the former and may require a longer runway time to get the incumbent running.

Let’s do a simple case scenario with a Fund Accountant with 1 to 3 years of working experience, and explore how the relationships co-relate with each other:

Funds Partnership Asia has a specialised team of consultants for every function in the funds business.

We encourage you to get in touch with Daphne at daphne@fundspartnership.com or Ayyaz

at ayyaz@fundspartnership.com for your next hiring needs.

Hong Kong’s General Employment Policy: Entering the HKSAR

wow@shazamme.com (Default Author) — Thu, 16 Sep 2021 16:42:03 GMT

WHAT IS IT?

The General Employment Policy (GEP) is for persons who wish to enter/stay in the Hong Kong Special Administrative Region (HKSAR) for employment as professionals.

Applicants who possess special skills, knowledge, or experience of value to and are not readily available in the HKSAR may apply for a visa/entry permit to come to work under the GEP.

The GEP is quota-free and non-sector specific .

This entry arrangement, however, does not apply to:

Chinese residents of the Mainland; and
Nationals of Afghanistan, Cuba, Laos, Korea (Democratic People’s Republic of), Nepal, and Vietnam.

ELIGIBILITY CRITERIA

To be favourably considered for a visa/entry permit, applicants should take note of the following:

The applicant should not have any security objection and no record of serious crime;
The applicant has a good education background , normally a first degree in the relevant field, but in special circumstances, good technical qualifications, proven professional abilities, and/or relevant experience and achievements supported by documentary evidence may also be accepted;
There is a genuine job vacancy;
The applicant has a confirmed offer of employment and is employed in a job relevant to his academic qualifications o r work experience that cannot be readily taken up by the local workforce; and
The remuneration pack age including income, accommodation, medical, and other fringe benefits is broadly commensurate with the prevailing market level for professionals in the Ho ng Kong Special Administrative Region (HKSAR).

References:

https://www.immd.gov.hk/eng/services/visas/GEP.html

Hire Right: Experience or Potential? | This or That

wow@shazamme.com (Default Author) — Thu, 26 Aug 2021 16:47:55 GMT

Hiring the right candidate is a pretty difficult and daunting task. Whether this is a new position or a replacement role, businesses are always faced with the same dilemma – to hire base on experience or the potential of an individual. While many seek comfort and assume that one’s relevant experience is able to increase the said productivity, others prefer the value that an individual can bring to the firm. Either way, it does not, however, eliminate the possibility of making a poor hiring decision.

The implications of poor hiring decisions do COST the company. The costs are not limited to the wasted salary spent on the individual or the agency recruitment costs incurred but here are some hidden costs that firms incur too :

Salary settlement and severance packages
Induction and Training costs
Job advertisement costs
Agency replacement fees
Internal referral rewards
Lost productivity of co-workers and supervisors
Impact on staff morale
Loss of business/ Loss of revenue opportunities
Negative impact on reputation and branding
Fraudulent activities committed by bad hires.

So how can we then hire right?

Train from Scratch or Hit the Ground Running

Well, this highly depends on the context of the hire.
Consider these two scenarios:

Scenario 1: You have a new fund that is due to launch in a month’s time and require an Associate with at least 4 years of relevant experience in the same industry you invest in, chances are that you would be looking at a candidate with at least 6 to 8 years of total working experience, drawing a base salary + an average of 4 to 6 months bonus. With the existing resources, you figure that you are able to cope in the meantime whilst you find this hire.

In comparison, Scenario 2: You have recently received a resignation letter from a staff who is in a fund operations function and has been with the firm for 5 years; 3 years of leading a team of 2. As the Department Head, you are probably now scratching your head on how to find a replacement during this one month notice and furthermore, realise the next reporting period is due at the same timeframe. Chances are that you would need to find an individual who is ideally available on short notice to pick up the pace and have some prior experience in leading junior staff.

Given the two scenarios, there are clear differences in the type of skills you are looking for, the urgency of this hire, and the relevancy of prior experience the individual would possess. So who do we hire? The individual with experience or the one with potential?

A key thing to identify in either scenario is the non-compromisable requirement of this hire. Especially during a replacement hire, we sometimes subconsciously compare potential candidates to the ones who got away – oftentimes, we sometimes take for granted are the habits our talent developed during the course of being with the firm.

Identifying these requirements gives hiring managers and the talent acquisition team a clear direction on the search parameters. The table below are some common requirements that we can easily identify during the course of our 15-year history of working on thousands of roles:

Once the firm has identified which are the critical requirements of the search, the business then will have a clearer direction on whether to engage a recruitment agency, define and decide on the type of agency that best able to fulfill this hiring need, and the type of search.

A key point to also consider is the urgency of the hire. This requirement typically would be prioritised before the above-stated in the table which then necessitates a fair compromise between the potential employers and employees. Partnering with an agency like Funds Partnership Asia is always favourable for both parties as the consultant is able to objectively assess the situation and advise accordingly!

If you are still in your dilemma, Funds Partnership Asia has a specialised team of consultants for every function in the funds business. We encourage you to get in touch with Daphne at daphne@fundspartnership.com or Ayyaz ayyaz@fundspartnership.com if you need to pick our brains (or two!).

Engage a Generalist or Specialist: Who best fulfil your needs? | This or That

wow@shazamme.com (Default Author) — Fri, 30 Jul 2021 16:54:11 GMT

There are hundreds of thousands of recruitment agencies in the world. Did you know that just in Singapore, there are over 3,000 employment agencies? In the United Kingdom, there are over 39,000 staffing firms in 2021! In this saturated market, how can one choose which firm is best suited for you? We can easily divide them into two groups – Generalist Recruitment Agencies and Specialist Recruitment Agencies. Let’s first define between both:

GENERALIST RECRUITMENT AGENCIES :

These recruitment agencies cover a broad range of job functions, industry sectors, and/or locations. These firms are typically very large because of the broad coverage of jobs.

SPECIALIST RECRUITMENT AGENCIES:

Specialist consultancies typically have core expertise on a particular job function, industry sector or location. For example, Funds Partnership Asia is a specialist recruitment consultancy that deals almost exclusively with the investment management industry across the front, middle and back offices jobs in the Asia Pacific.

With more clarity on the types of recruitment firms available, it’s important to identify what sets them apart and which one best suits your needs.

KEY DIFFERENCES

The fundamentals of recruitment are a very straightforward process and truthfully, does not differ between a generalist or specialist. But what sets these two groups apart is the value add they bring to their clients.

Successfully filling a vacancy is not a value add, it is an expectation when clients engage a recruitment agency to fill vacant roles. The value is shown when a specialist is able to connect their clients to highly specialised networks and introduce in-depth relationships that will help them achieve their business goals and visions.

Here is a table of summary for other key differences between engaging a Generalist and Specialist:

CHOOSING THE RIGHT RECRUITMENT AGENCY:

First, understand your hiring needs. What type of roles are you looking to fill – are they roles that require a specific or generic skill set? How many employees are you planning to hire? What position levels are you looking for? These are quick questions to identify which agency works best for you.

Secondly, understand the drawbacks of choosing either agency. If you have opted for a contingent recruitment solution, (see here for Retainer or Contingent searches article), note that generalist recruitment agencies are typically dedicated to the fastest role to fill – if you’re looking for a specific talent that requires dedicated time and effort to search, you most likely will not get 100% commitment and would have to spend more time waiting on a profile as compared to engaging a specialist. Alternatively, if you are hiring for a large variety of positions outside your core-operation, specialist recruiters who only focus on a particular job function may not be as agile and fast as a generalist recruiter.

CAN WE ACHIEVE THE BEST OF BOTH WORLDS ?

With specialist recruitment consultancy firms such as Funds Partnership Asia that cover the end-to-end spectrum within a particular industry, it does not matter what the role is about when you are looking to hire – simply because we usually deal exclusively and commit to our clients 100%. By partnering with specialist recruitment consultancy firms, we can understand your business goals, identify and curate current, potential and future hiring needs, and target the right pool of candidates to ensure longevity in your business.

If you believe that your human capital solutions can be upgraded by simply engaging a specialist recruitment consultancy firm, get in touch with Daphne at daphne@fundspartnership.com or Ayyaz ayyaz@fundspartnership.com !

Singapore’s Enhanced Personal Data Protection Act 2020: What’s New?

wow@shazamme.com (Default Author) — Tue, 13 Jul 2021 17:09:22 GMT

The Personal Data Protection (Amendment) Act 2020 , also known as the Enhanced PDPA , seeks to strengthen organisational accountability and consumer protection while encouraging companies to optimise the use of personal data for innovation. The Enhanced PDPA took effect from 1 February 2021 with the following three key amendments:

Mandatory Data Breach Notification
Introducing Criminal Offences
Expansion of Consent Framework

1. MANDATORY DATA BREACH NOTIFICATION

What constitutes a notifiable data breach?

A notifiable data breach is one that results in or is likely to result in significant harm to an affected individual involving prescribed personal data; OR is likely to be of a significant scale (usually involving 500 or more individuals).

Who must be notified?

The Personal Data Protection Commission (PDPC) must be notified as soon as is practicable, and in any event within three calendar days of the organisation’s assessment; AND affected individuals must also be notified if the data breach is likely to cause them significant harm.

2. INTRODUCING CRIMINAL OFFENCES

What are the offences?

Knowingly or recklessly committing any unauthorised disclosure of personal data, use of personal data for wrongful gain or causing a wrongful loss to any person, or re-identification of anonymised data.

What are the penalties?

Maximum fine of SGD5,000 or maximum 2 years imprisonment, or both.

3. EXPANSION OF CONSENT FRAMEWORK

New ways that consent can be deemed as given:

Contract Necessity

Where an organisation has a reasonable need to disclose to other organisations the personal data originally disclosed by an individual, to perform a transaction between the individual and the original organisation.

Notification

If the individual has been adequately notified by an organisation and given a reasonable opt-out period, but has not taken any action to opt out of the collection, use, or disclosure of their personal data, their consent can be deemed as given.

New exceptions that remove the need for consent:

Legitimate Interests

Lawful interests of an organisation or another person, which the organisation has assessed to clearly outweigh any likely adverse effect to the individual. (E.g. for evaluations, investigations or proceedings, or for recovering debts)

Business Improvements

Includes helping the organisation improve its products and services, or to help it understand existing or prospective customers, so it can offer more personalised products and services.
Can be used by entities in a group of companies who intend to share customer data within the group. However, it cannot be used for sending direct marketing messages for which individuals’ consent must be obtained.

Research Purposes

To enable organisations (e.g. commercial laboratories, institutes of higher learning, and market research companies) to conduct broader research and development that may not have any immediate application to their products, services, business operations or market.

References:

https://www.pdpc.gov.sg/news-and-events/announcements/2021/01/amendments-to-the-personal-data-protection-act-take-effect-from-1-february-2021

https://www.pdpc.gov.sg/Enhanced-PDPA-for-Businesses

Amendments to the Personal Data Protection Act In Force

https://www.alpadis-group.com/2021/02/03/pdpa-amendments-take-effect-from-february-2021/

Retainer or Contingent: Which type of search meets your needs? | This or That?

wow@shazamme.com (Default Author) — Wed, 30 Jun 2021 17:33:42 GMT

Hiring talent is straightforward, however, it could be a lengthy process. Our article on Talent Acquisition vs Agency gives firms like yours an idea of when to leverage the expertise of an agency. Now that you have decided that engaging an agency works best for you, which type of search is in your best interest?

*The above information is based on our 15 years of experience understanding which option works the best for our clients.

Retainer: For that perfect fit.

Hard to fill jobs, specified roles, suitable candidates are scarce

A retained search is paid in advance to the agency to conduct a search that is either confidential, a specific profile, or to simply search for the best candidate in the pool. Retained searches are typically long, exhaustive, and involve a very close working relationship with the client.

BENEFIT:
Guaranteed exclusivity throughout the search duration does not only mean that the agency wins your money upfront, but it also prioritises and commits the agency to put your hiring needs first.
Rigorous methodology and due diligence conducted to ensure a qualified shortlist of candidates are presented, resulting in more fruitful discussions between you and the potential hire.
Access to a larger pool of candidates – both passive (80%) and active (20%).
Market insights and mapping against your direct and indirect competitors.
Great for senior position hirings
Ultimate employer branding speaks volumes when you choose to work with just one agency to get the best hire in the market, versus working with multiple agencies which potentially dilutes your firm’s branding.

DRAWBACKS:
Exhaustive process that requires slightly more time to comb the market.
Fees are only marginally higher as more resources are dedicated to your search.

Contingent: For the fast results.

Multiple similar positions to fill, and candidates are needed quickly

Conduct a contingent search for non-critical roles in a firm – this allows you and your recruiter to explore different avenues of sourcing potential candidates that can do the job. Contingent searches are great when you require fast results especially during mass hirings for entry to junior level positions, or temporary headcounts. The quick turnaround timeframe will work best when you work with specialist agencies in their market. Contingency searches are paid only when your organisation decides to hire the candidate presented by the agency.

BENEFIT:
Access to a wide variety of candidates that may not traditionally fit the mold
Quick turnaround time and great for multiple hirings for a similar position
No payment upfront necessary, pay upon delivering
Great for non-critical roles (entry to junior level positions)

DRAWBACKS:
Agency recruiters work towards roles that are fastest to fill and pays the most in the shortest time frame possible. If your hiring needs are particular, contingency searches may not be the right approach!
Higher chances of discrepancies between your expectations and the proposed candidates since not much time is spent understanding your needs.
Pitting multiple agency recruiters against each other will not give you the absolute truth that you have combed the market. Rather, you have engaged multiple recruiters to fish from the same limited, active job-seeker talent pond.

Can you meet me halfway? Right at the borderline.

Feeling the pinch? Do you want the best aspects from each search but know that you are unable to give in to the drawbacks?

What if there is a plausible solution to engaging an agency and having your role prioritized without money upfront? Let’s meet everyone halfway:

Exclusivity. The idea of exclusivity is in the interest of both parties’ where downside risks are covered: Clients’ hiring needs are prioritized with a quick turnaround and a consultative approach. Recruitment agencies are able to confidently delegate resources to find good candidates who are passively and actively in a new job search.
The biggest benefit to both parties: Commitment from both sides to make this hire a success. One client and one recruitment agency to find the best candidate for your firm; now, that is probably the best deal anyone can ask for.

Got more questions to ask? Ready to find the talent you need? Get in touch with Daphne at daphne@fundspartnership.com or Ayyaz ayyaz@fundspartnership.com !

Talent Acquisition Team Vs. Recruitment Agency: Who should you engage to meet your recruitment needs? | This or That?

wow@shazamme.com (Default Author) — Thu, 17 Jun 2021 17:39:26 GMT

Recruitment might seem like a simple job of matching supply-and-demand – but the truth is, it needs to be as customised as finding a partner or that tailored suit.

If you’re a small-sized hedge fund, should I find a niche agency to meet my needs? What if I’m hiring for multiple positions across departments in a global fund admin firm? Will my requirements differ if I am hiring for a senior position for an accounting firm?

We feel your pain – but don’t fret any longer. We’ve broken it down for you according to different sizes and hiring frequencies for Buy-Side & Fund Admin companies.

Some factors to consider:

HIRING FREQUENCY

Are you planning to fill multiple spots across the organisation in the next few months urgently? Or do you have a couple of specific roles that need very targeted hiring over a longer period of time?

2. SPECIALISATION

Are potential candidates expected to have a specific set of skills or industry experience or are you hiring for more generalist positions?

3. SENIORITY

Are you looking to hire for senior positions with a minimum number of years of experience in a particular industry, or for entry-level candidates who may be pivoting?

4. GEOGRAPHY

Are you looking to hire just for a position in a specific country or region?

5. COST

Is it in your budget to hire an external recruitment team? It’s also important to weigh the long-term cost of a wrong hire or keeping an in-house recruitment team!

Here’s a quick summary of the differences:

Recruitment agencies (like us!) provide strong technical understanding of the industry and an extensive network, which is crucial when it comes to hiring or headhunting for highly specified roles (especially senior ones) and building up teams!

Talent Acquisition (TA) teams, on the other hand, work in-house, and can quickly and efficiently fill in roles across the organisation which is especially important for high volume hiring.

Sometimes, you may BEST OF BOTH WORLDS. Firms can benefit from both a recruitment agency and a TA team working in tandem to fill in various roles (especially with a large number of hires across regions).

*The above information is based on our 15 years of experience understanding which option works the best for our clients .

Get in touch with us if you’d like to know more at careers@fundspartnership.comm

Ireland’s Investment Limited Partnerships Amendment Bill 2020: Enhancing The LLP Fund Regime

wow@shazamme.com (Default Author) — Wed, 19 May 2021 17:43:54 GMT

What is it?

The Investment Limited Partnerships (Amendment) Bill 2020 or ILP Bill modernises the 1994 Investment Limited Partnership (ILP) Act.

It makes provision for a new ILP structure, which will add to the already extensive choice of fund vehicles available to asset managers including the ICAV, CCF and Unit Trust and also the unregulated 1907 partnership structure.

It also introduces a number of other measures to ensure there is alignment with more recent domestic and EU legislation, such as the Alternative Investment Fund Managers Directive, the 2014 Companies Act and the 2015 Irish Collective Asset-management Vehicles Act.

Benefits of the new ILP legislation include:

Limited Partnerships (LPs)
Insertion of an enhanced ‘white list’ of safe harbour provisions which preserve the limited liability status of investors by permitting certain activities to be undertaken without the investor being deemed to be taking part in the management of the ILP.
Removal of the requirement for all investors to approve amendments to the partnership agreement. Instead such amendments will require approval by a majority of investors (by reference to investor contributions).
Clarification that limited partners who do not take any part in the conduct of the business of the partnership cannot be prosecuted for any offences committed in the management of the partnership.
Removal of the requirement on a return of capital to any investor for the general partner to certify that the ILP is able to pay its debts in full as they fall due after the return of capital is completed
Umbrella ILPs
Permits the establishment of ILPs as umbrella funds with segregated liability between sub-funds;
Easy migration from other jurisdictions
The possibility for ILPs to be migrated into and out of Ireland by way of continuation, which provides scope to redomicile existing partnerships without significant implications.
Sustainable Investment focus
Flexibilities in borrowing, speed-to-market, and investment restrictions make ILPs an attractive option for alternative environmental, social, and governance (ESG) focused funds. With the European Commission’s Green Deal to make Europe the first climate-neutral continent by 2050 in mind, ILP funds are expected to be at the forefront of alternative sustainable investment funds in the foreseeable future.
Beneficial Ownership
The introduction of beneficial ownership disclosure requirements in respect of 25%+ investors in the ILP, which ensures the transparency of the vehicle adheres to international best practice.

References:

https://www.oireachtas.ie/en/bills/bill/2020/29/

https://www.pinsentmasons.com/out-law/news/ireland-fund-partnership-structure-real-asset-managers

https://home.kpmg/ie/en/home/insights/2021/01/investment-limited-partnerships-bill-2020-asset-management.html

https://www.cscgfm.com/blog/high-hopes-for-irelands-new-ilp/?utm_content=154450974&utm_medium=social&utm_source=linkedin&hss_channel=lcp-3523941

https://www.gov.ie/en/press-release/a7965-commencement-dates-for-investment-limited-partnerships-ilp-amendment-act-2020-set-donohoe-fleming/#

Wholly Foreign-Owned Enterprise in China: Part 3

wow@shazamme.com (Default Author) — Wed, 28 Apr 2021 17:47:58 GMT

KEY ORGANS IN A WFOE

There are generally two management structures applicable for WFOEs in China.

Having a Board of Directors to lead the company, of which the board must consist of at least three directors. One of them has to be the Chairman.
Another possibility is a WFOE with only one Executive Director. This option is normally chosen if a company only has very few Shareholders (or only one Shareholder) or just a small business scale. The Executive Director has the same responsibilities as the Board of Directors.

Having one of these two options is obligatory for the WFOE in China and the result of this determines who decides all major managing issues concerning the company.

KEY POSITIONS NEEDED WHEN SETTING UP WFOE:

Shareholders
Shareholders have the highest authority of the company, they also appoint the Board of Directors or the Executive Director. A minimum of one shareholder is required whose details have to be filed with the State Administration for Industry and Commerce or its local branch (“SAIC”).
Executive Director/Board of Directors
Shareholder decisions regarding company operations are executed by the executive director or board of directors. The maximum length for which Directors can be appointed is three years, after which the Directors can be re-elected. The number of directors on the board can range from 3 to 13.
Chairman of the Board
Appointed by shareholders or elected by all directors, the Chairman convenes, organizes, and presides over Board meetings. They are also responsible for record-keeping of Board meetings.
Legal Representative
Appointed by shareholders, the legal representative must be either the Chairman of the Board or Executive Director, or General Manager of the WFOE.
Supervisor
Appointed by shareholders, they cannot be the Chairman, Managing Director, General Manager or other senior staff but can be a shareholder. The supervisor monitors the implementation of company obligations by the board director and senior management personnel.
General Manager
Appointed by the executive director or board of directors, the General Manager is
directly responsible to the Board
and exercises its duties under the leadership of the Board. They
undertake the company’s day-to-day business

The information provided serves as a general reference guide and is not strictly advised by Funds Partnership Asia.

References:

https://lorenz-partners.com/download/china/NL211E-The-WFOE-and-its-most-important-organs-Jan19.pdf

https://www.bdp-team.cn/en/news/key_positions_by_a_wfoe

https://www.lexology.com/library/detail.aspx?g=cef7ae70-acb0-45fe-b209-dd3c1071a3f0

https://www.acadiaadvisory.com/Insights_list25.html

Wholly Foreign-Owned Enterprise in China: Part 2

wow@shazamme.com (Default Author) — Wed, 14 Apr 2021 17:58:12 GMT

The Establishment Process

The process of setting up a WFOE varies as it is dependent on the type of enterprise being established.

WFOEs are mainly classified (but not limited to) the following three types: Consulting WFOE, Manufacturing WFOE and Trading WFOE.

This establishment process can be broken down into two parts: the Pre-Licensing process and Post-Licensing process.

PRE-LICENSING PROCEDURE:

Name Registration

Application and reservation of the selected company name must be made to the State Office of the Administration for Industry and Commerce (SAIC).

2. Office/Facility Lease

It is necessary to have a minimum 12-month lease for company space in the city of registration prior to applying for a WFOE incorporation.

3. Application for Approval/Record Filing

Applicants are expected to go through a simplified record-filing process and require the approval of the Ministry of Commerce (MOFCOM) before obtaining the WFOE business licence.

4. Application for Five-in-one Business License

This five-in-one business license from the SAIC consists of: Business license; Organisation code; Tax Registration certificate; Social security registration certificate; and Statistical registration certificate.

POST-LICENSING PROCEDURE:

Carving chops

All companies operating in China require a company seal or chop as an official representation of the firm, which can be obtained from the Public Security Bureau (PSB) after successful registration with the SAIC.

2. Opening 2 banks accounts

A WFOE in China needs to have a minimum of two bank accounts: an RMB basic account, and a foreign currency capital contribution account. A WFOE can establish bank accounts with both Chinese and international banks.

3. Register for Taxes

Once granted the business license, companies must then register for taxes at the State and Local Tax Bureau

The information provided serves as a general reference guide and is not strictly advised by Funds Partnership Asia.

References:

https://www.china-briefing.com/news/setting-wfoe-china-step-step-guide/

https://www.hongdaservice.com/blog/setting-up-a-wfoe-in-china-the-process-explained

https://www.fdichina.com/blog/china-company-registration/wfoe-wofe/start-your-business-in-china-wfoe-wofe/

http://www.yklaw.us/setting-up-a-wfoe-in-china

ACCA Virtual Careers Fair – Traditional Accounting VS Investment Accounting: What’s the Difference?

wow@shazamme.com (Default Author) — Tue, 06 Apr 2021 18:00:28 GMT

Principal Consultant Daryl Emmanuelle Ong talks about the differences between traditional accounting and investments accounting at a virtual career fair held by ACCA. Some key points from the webinar include what fund accounting is all about, the job specifications, and the benefits of ACCA accreditation for pivoting into investment accounting.

If you’re an aspiring accountant or auditor keen on venturing into the funds industry, our inboxes are always open!

Wholly Foreign-Owned Enterprise in China: Part 1

wow@shazamme.com (Default Author) — Tue, 30 Mar 2021 18:05:42 GMT

WHAT IS IT?

The Wholly Foreign-Owned Enterprise (WFOE) is a privately held limited liability company in China in which all the shareholders are foreign .

It allows full autonomy to implement the strategies of its parent company, without having to consider the involvement of the Chinese partner.

Abilities of WFOE:

Issue official VAT invoices in RMB to its clients and employ staff directly;

Run its business with registered capital from its investors and its profit;

Hire local employees directly;

Convert RMB profits to US dollars for remittance to its parent company outside of China;

WHAT ARE THE TYPES?

WFOE are mainly classified (not limited to) the following 3 types:

Consulting WFOE
Consultancies or companies that provide a service.

Manufacturing WFOE
Companies whose activities include manufacturing and trading of goods.

Trading WFOE or a Foreign-Invested Commercial Enterprise (FICE)
Companies who wish to engage in the trading of products. This grants companies both import and export licenses and allows them to trade locally.

THINGS TO NOTE:

During your WFOE application, take note of requirements such as:

Sound organisational structure and experienced personnel;

Fixed work location (rental of a physical place of operation), sufficient funds and office facilities for the business;

Articles of association, a sound management system , well defined working rules, and a clear business scope ;

Full civil capacity to bear civil liability independently; and

Other conditions as provided by the laws and regulations.

The information provided serves as a general reference guide and is not strictly advised by Funds Partnership Asia.

References:

https://www.wfoe.org

https://www.hongdaservice.com/blog/setting-up-a-wfoe-in-china-the-process-explained

https://www.hongdaservice.com/blog/3-key-types-of-wfoe-suitable-for-foreign-companies-trading-in-china

https://www.mills-reeve.com/insights/publications/wholly-foreign-owned-enterprise-wfoe

http://www.mohrss.gov.cn/gkml/zcfg/bmgz/202001/t20200103_351214.html?from=singlemessage&isappinstalled=0#10006-weixin-1-52626-

6b3bffd01fdde4900130bc5a2751b6d1

Singapore’s Global Investor Programme: Attaining Permanent Residency Through Investments

wow@shazamme.com (Default Author) — Tue, 09 Mar 2021 18:12:06 GMT

WHAT IS IT?

The Global Investor Programme (GIP) is for accomplished global investors interested in acquiring Singapore Permanent Resident status (PR)

Allowing eligible global investors to drive their businesses and investment growth from Singapore

The scheme is administered by EDB Contact Singapore, a division of the Economic Development Board (EDB)

WHAT ARE THE BENEFITS?

Family members (spouse and children under the age of 21) can also acquire PR status.

Eligible to apply for citizenship after holding PR status for ≥ 2 years.

QUALIFYING CRITERIA

Established Business Owners

≥ 3 years of entrepreneurial and business track record
Currently operating a company with S$200mil revenue per year
Own ≥ 30% shares in the company (if company is privately held)
Investment option(s): A / B / C

2. Next Generation Business Owners

Immediate family should have ≥ 30% shareholding or be the largest shareholder in the company
Operating company must have ≥ S$500mil revenue per year
Be in the management team of the companY
Investment option(s): A / B / C

3. Founders of Fast-Growth Companies

Be the founder and one of the largest individual shareholders of the company with a valuation of S$500mil
Company must have been invested into by a reputable Venture Capital or Private Equity firm
Investment option(s): A / B / C

4. Family Offices

≥ 5 years of entrepreneurial, investment or management track record
Must have net investable assets of ≥ S$200mil
Investment option(s): C

*Companies must be engaged in one or more of the industries specified by the scheme.

INVESTMENT OPTIONS

Option A
Invest ≥ S$2.5mil in a new business entity or in the expansion of an existing business in an approved business sector
Option B
Invest ≥ S$2.5mil in an approved fund that invests in Singapore-based companies
Option C
Invest ≥ S$2.5mil in a Singapore-based Single Family Office having AUM of ≥ S$200mil

References:

https://www.edb.gov.sg/en/how-we-help/global-investor-programme.html

https://www.edb.gov.sg/content/dam/edbsite/invest-in-singapore/downloads/GIP%20Factsheet%20(English)%201%20Apr%202020.pdf

What it takes to be a TCSP in Hong Kong?

wow@shazamme.com (Default Author) — Tue, 23 Feb 2021 18:18:21 GMT

Hong Kong’s TCSP Licensing Regime:

Trust or company service providers in Hong Kong are required to obtain a licence in compliance with the requirements of the Anti‐Money Laundering and Counter‐Terrorist Financing Ordinance (AMLO).

Ensuring that TCSPs meet the requirements of customer due diligence and record-keeping requirements

Licence is valid for 3 years , and to be renewed 60 days before expiry.

“Fit and proper” test

required to account for factors such as criminal and bankruptcy history of the applicant and various partners.

If you are a new applicant:

Application fee of HK$3,440

Additional fee of HK$975 for each person subject to the fit and proper test

If you are an existing applicant looking to renew:

Application fee of HK$2,910

Additional fee of HK$975 for each person subject to the fit and proper test

If you are an existing applicant looking to cease operations:

A licensee who fails to notify the Registrar of cessation of trust of company service business commits an offence and is liable on conviction to a fine of HK$50,000 .

References:

https://www.tcsp.cr.gov.hk/tcspls/index

https://www.tcsp.cr.gov.hk/tcspls/portal/guide/59/eng/TCSP_G1-e.pdf

Singapore Tax Frameworks: What’s the Difference?

wow@shazamme.com (Default Author) — Wed, 10 Feb 2021 18:20:53 GMT

WHAT IS IT?:

Section 13X: Enhanced-Tier Fund Tax Incentive Scheme

Creates flexibility for Singapore-based funds to source for investment mandates, with no restrictions or financial penalties on the investments made by Singapore resident persons.

Section 13R: Onshore Fund Tax Incentive Scheme

Designed to facilitate domiciliation of funds into Singapore and to attract the funds of non-Singapore investors.

Section 13H: Tax Incentive

Provides tax exemption for income from funds that meet the scheme’s requirements to invest in unlisted Singapore-based companies (subject to a maximum tenure of 15 years).

THE BREAKDOWN

References:

https://www.svca.org.sg/assets/upload/toolkit/pdf/Factsheet_S13H_FMI_13_Jan_2021.pdf

https://www.svca.org.sg/editor/source/Publication/Advocacy%20Files/S13X%20Paper%20by%20SVCA%20Advocacy%20Subcommittee.pdf

https://www.envysionwealth.com/what-does-the-13r-and-13x-tax-incentive-scheme-provide/#:~:text=13R%20Scheme%20is%20designed%20to,funds%20of%20non%2DSingapore%20investors.&text=The%2013X%20Scheme%20has%20no,made%20by%20Singapore%20resident%20persons

https://www.svca.org.sg/assets/upload/toolkit/pdf/Factsheet_S13H_FMI_13_Jan_2021.pdf

Hong Kong’S LPF Regime: 5 Months In, What’s New Hong Kong?

wow@shazamme.com (Default Author) — Wed, 20 Jan 2021 04:20:11 GMT

WHAT IS IT?:

The Limited Partnership Fund (LPF) Regime is a new fund structure introduced by the Hong Kong government to provide better legal protections and flexible structuring of private equity funds, so as to boost its position as an asset and wealth management hub.

WHAT’S THE TRACTION?

73 LPFs have been registered since the launch of the regime.

HOW IT COMPARES TO EXISTING REGIMES:

HK Open-Ended Fund Company (2018)

HK Limited Partnership Fund (2020)

Must be registered and authorised by SFC (if it is a public OFC)

Must register with the Registrar of Companies

Authorisation of SFC not required unless offered to retail investors (Not subject to SFC-imposed restrictions)

Restricted to be used as a fund for investment managers based in Hong Kong

For funds managed anywhere in the world

More suited for public funds and hedge funds

*SFC: Securities and Futures Commission

To attract private equity and venture capital funds

WHAT’S THE SUPPORT AVAILABLE?

The Hong Kong Government also introduced the Unified Funds Exemptio n – a new tax exemption which exempts privately offered funds including LPFs and other PE funds (from the payment of profits tax).

References:

https://www.timothyloh.com/insights/current-issues/private-equity-carried-interest-tax-concession-tax-rate

https://iqeq.com/insights/hong-kong-limited-partnership-fund-explained

http://www.hk-lawyer.org/content/new-regime-limited-partnership-fund-introduced-hong-kong

https://www.kwm.com/en/hk/knowledge/insights/hk-limited-partnership-regime-rolling-out-20200729

FundFAQ!: Hedge Fund Accounting

wow@shazamme.com (Default Author) — Tue, 29 Sep 2020 04:43:39 GMT

TAX EXPERT’S PERSPECTIVE : 3 Key Considerations When Structuring a Fund

wow@shazamme.com (Default Author) — Wed, 12 Aug 2020 04:48:36 GMT

Singapore has been gaining good traction as a fund domiciliation / holding platform location thanks to the opportunities accessibility and avenues to institutional Asian investors as well as an efficient tax regime with good treaty network with neighbouring countries.

If you have been considering to diversify your existing portfolios and need fund professionals for advice and support, here is an article by tax partner, KPMG Services Pte Ltd, that highlights key considerations from a tax and commercial perspective when establishing a fund structure.

The Globe-Trotting Hustler: How She Made the World her Oyster

wow@shazamme.com (Default Author) — Thu, 23 Jul 2020 05:08:22 GMT

“When I travelled from Jersey to Switzerland, the local cultural exposure was amazing; my move to Singapore taught me about the group community mentality that the locals have; food was amazing in Singapore, I miss Mustafa shopping centre and prata! Then when I moved to the BVI, I could see the stark difference between Singapore and the Caribbean!” In this exclusive interview by Funds Partnership Asia , be inspired by globe-trotting hustler, Michelle Le Herissier , Managing Director at JTC Trustees , in this series of #GirlsJustWannaHaveFunds as she shares on her unconventional career trajectory, from entering the trustee industry and working her way up. What does it mean to be a woman in this cut-throat industry? Has she ever experienced discrimination? What were the most important lessons she held onto?

Find out how this courageous lady never let anyone push her down.

1. Can you share with us your career trajectory in a nutshell?

I love poetry, drama and acting and so I got my Diploma in Acting & Musical Theatre, but acting was a tough industry then and at that time, no one was interested so I made the decision to switch into the trustee industry as my father was a trustee then and I never once looked back!

I built my way up the good old fashion way; I worked hard and studied and put over and above what was expected. I landed my first job as a Junior Trust Administrator with Cititrust in Jersey; then a Trust Administrator role came up in Switzerland and I took it! Opportunities had presented themselves then I moved to Credit Suisse as Head of Trust Administration for 18 months before my best friend from Cititrust told me that they needed a Head of Trust Administration in their Singapore office, naturally I went for it! I progressed my career with Barclays as a Director for the Singapore and Hong Kong offices, until it was time to explore the world again.

That’s when an opportunity with JTC Group came up in their BVI office – so I packed my bags and was there for 2 years. After that, I was on an offsite project in South Dakota and with the volume of the domestic and international trust work in this new jurisdiction, I plunged into JTC Group’s South Dakota office as Managing Director!

2. What inspired you to enter the Trust industry?

My father did a stint in the Cayman Islands back in the 80s, and my parents packed up their home in Jersey and moved to the Caribbean. It was a very bold move in those days without smartphones and the internet and the advanced technologies we have today – but they took a risk and spent 2 years in the Channel Islands. As they showed me and my sister pictures of their adventures, I was so inspired by them and their travels.

At the age of ten, my parents showed me that the world was my oyster – and I knew then that I wanted to travel the globe to experience new cultures.

With that, I came to realise this same reality in every step of my career. I believe that a career move is strategic when it keeps me moving forward and gives me more with each step I take. So I followed my father’s footsteps, switched from acting to the Trustee field and worked hard.

I never expected promotions to land in front of me, I hustled and reached for everything I could. Like I said, I never looked back but just kept moving forward.

My career has always been important to me and what fuels my inspiration to give my best was the various cultures I get to experience along the way.

The culture of the Trust industry was eye-opening – I enjoyed the fast pace of the industry, I enjoyed the pressure and challenges the industry gave me and that feeling that my inbox was always full! I was very ambitious, and still am!

When I travelled from Jersey to Switzerland, the local cultural exposure was amazing; my move to Singapore taught me about the group community mentality that the locals have; food was amazing in Singapore, I miss Mustafa shopping centre and prata! Then when I moved to the BVI, I could see the stark difference between Singapore and the Caribbean! The visa process was way more efficient in Singapore as compared to the Caribbean, the Caribbean has a gentle and natural way of life as compared to Singapore’s fast pace of life.

Finally, I also experienced change from big, global banks like Cititrust, Credit Suisse and Barclays to my first independent trust company, JTC Group. I took the change like a duck to water – I was given autonomy, I was able to positively influence, I made sure I proved my worth and was given regional responsibilities and exercised my team building skills. The skills that I have gathered over the years all culminated to this point and it gave me the opportunity to build and develop a team when first I started out with JTC.

3. As a veteran in the industry, can you share with us how the Trust industry has evolved over the years?

The world has become far more transparent and that is how the industry evolves along with it – instances like FATCA reporting, CRS reporting, the need to have greater regulatory oversight, etc. Offshore jurisdictions that were once labelled as tax havens and shelters, and any illegitimate structures are now all things of the past. Technology has also definitely changed and further equipped the industry; for example by granting quicker response times to clients! Because the world is much more connected now, incidents and films like the Panama papers and The Laundromat on Netflix respectively can leave negative impressions of the industry. But it is also because the world is more transparent and connected, that it allows offshore centres to better position themselves; and get rid of the idea that these centres are dodgy places.

I believe that the need for a trust structure will never go away! As the industry evolves and increases transparency, this will only better assist clients to make better wealth management decisions, make the passing of assets and easier process for those left behind, or preserving wealth for their families’ generations to come.

4. As a female leader, what has been the most significant barrier in your career? How did you overcome it?

Instead of barriers, my perspective is to see such incidences as opportunities to grow and not a barrier that obstructs – simply because I want to be the best that I can be! I think that I have been very lucky in my career. I once had a female boss who put me down and made me feel less than what I was capable of. From there, I have adapted my mentality and approach by remembering Harvey Specter’s (See the image i sent to you girls by Michelle) words from the series Suits:

“When you’re backed against the wall, break the goddamn thing down.”

From then on, I never let anyone stand in my way, I never let anyone push me to a corner. I will go around and manoeuvre around till I reach my goal.

As a senior leader, I have learnt much in my career: Patience, Humility, Gratefulness, Tenacity, and showing Vulnerability even! I met Hurricane Irma in 2017 when I was with JTC but I was VERY focused on staying on for the team, and I did. This disaster showed me that the vulnerability of a leader is the best thing one can learn. Even though I appear strong, I can crumble because we are human too. I managed to make everyone hustle together to build the BVI office (literally!) from scratch and also managed to keep everyone’s jobs – not one was lost!

It was those trying times that created the biggest growth for me as an individual and as a female leader.

5. Do women in your profession have a harder time getting promoted as compared to men?

To be honest, I have seen many women in senior positions in our space on a global level and that makes me proud! My stint with Singapore has shown me that there are quite a few strong women in the wealth space and the dynamics and diversity between men and women in the Singapore’s wealth space is very encouraging, though I have noticed that women are slightly more conservative as compared to the men. In the wealth industry, the men predominantly are seated in the boardroom while I have heard a couple stories of women having to try to be part of the ‘boys’ club’; and I never bought into this. In fact, I find that sometimes the men must keep up with me!

As women, we may feel the pressure to behave in a certain way due to societal norms, but my experience with the women living in the Caribbean was very eye-opening- they were not afraid to give their opinion and openly harness their positive energy into achieving company goals!

6. Has there been any time you have experienced resistance when you are leading men?

I don’t specifically remember feeling any form of resistance to be very honest! I am currently leading men in my team, but they do not typically challenge my work in a negative way. Perhaps one thing that as a woman I often get labelled for is being “too emotional”. But I believe that as a leader, I should be emotionally available for my team! Emotional intelligence has greatly contributed to my 25 years in this field and it has got me to where I am today.

Being “emotional” to me means bringing my drive to work every day. I’m bringing me to work. Some men are not as transparent with their emotions and that makes it a slight challenge for me to help my own colleague when there are no cues to read. Funnily enough, I do remember an instance where a male colleague challenged my work. He started getting frustrated despite me repeating my answer to him for the umpteenth time… the irony isn’t it? Who is the emotional one now?

This label of “being too emotional” just proves that I can do the job just as well as a man, maybe even better! Because of that, I do believe that I am in my position because of my ability to do the job, not because of my gender!

7. What advice would you give to the next generation of female leaders?

I saw this quote by The Female Lead on LinkedIn and it spoke to me – and I believe it will also encourage you as well:

It’s so important to be constantly encouraging others because we rise by lifting others! I would personally want to advise the next generation of female leaders to not step on other women to climb the corporate ladder, but instead to SUPPORT each other. Surround yourself with capable, courageous women and be each other’s greatest cheerleader. If you do not have one now, build your own tribe! Trust the flow and trust it will come good!

If you are interested to make a mid-career switch or pursue a career in the Trust industry, do send your queries to careers@fundspartnership.com and we will be in touch shortly!

CFA Level III: All the way to The Finishing Line!

wow@shazamme.com (Default Author) — Thu, 09 Jul 2020 05:15:54 GMT

They always say it’s not about how you start, but the end that counts! With two milestones in the bag and the last one to go, we’re not about to leave you in the lurch. What should students focus on in order to ace this? How many questions do they have to tackle in the short period of time? Read on to find out:

Curriculum Weightage:

The curriculum weightage is the key for anyone preparing for the CFA exams! There’s heavy focus on “Portfolio Management” and “Fixed Income” in the upcoming CFA Level III however students are advised to spend more study time on the concepts and tools on the above topics.

Costs Incurred:

We are certain you would be able to find countless of articles about how much it costs financially to take the CFA Level III paper but here we summarised a whole list of costs (financially, effort, time, etc) that you would have to pay for as you attempt your paper:

Exam Duration & Question Format

You can expect a total of 20 to 30 mini case studies that totals to 60 multiple-choice questions plus essay questions:

Morning session is 3 hours long:
Essay questions (typically around 8 and 12 case studies)
Each question has several subparts
2 types of answer pages:
Unlined pages will be clearly labeled for specified questions. You are free to write your response as needed on that page.
Structured set of boxes that are clearly labeled for that question part and provide a visual structure to guide you in writing your responses.
tallies to a total of maximum of 180 points (dependent on the questions)
Afternoon session:
Multiple Choice Questions
11 case studies
8 case studies with 6 questions each
3 case studies with 4 questions each

See sample of the format below:

Sample Questions for the morning session:

Questions 1 and 2 are related to XXX and YYY; A total of 27 mins have been allocated to these 2 questions and candidates should answer in the order presented.

Question 1 has a total of 2 parts (A and B) for a total of 12 minutes.

Case Scenario depicted half a page later.

Determine whether the risk tolerance of the Plan is below-average or above-average Justify your response with two reasons.

Note: Restating case facts is an incomplete justification and will not receive credit.

5 minutes (Answer 1-A on page 3)

State the minimum return requirement of the Plan. Explain your response.

4 minutes (Answer 1-B on page 4)

Have a look at CFA’s official sample questions here .

Sample Questions for the afternoon session:

Questions 1 to 6 relate to Ethical and Professional Standards.

XXX Case Scenario

1.5 to 2 pages later…

In which of the following actions does XXX most likely comply with the requirements and recommendations of the CFA Institute Standards of Professional Conduct? When XXX:

References the CFA program and designation.

Provides performance information on the advisor’s website.

References the enhanced portfolio management skills of his teams

Which of the company’s policies regarding public appearances is least likely consistent with both the requirements and recommendations of the CFA Institute Research Objectivity Standards?

Statement 1

Statement 2

Statement 3

So on and forth for Question 3 to 6. Or have a look at CFA’s official sample questions here .

Release of Results

The most anxious part of this examination only occurs 90 days after completing the exams : Release of the Exam Results. The minimum passing score for the CFA Level III paper is never disclosed , says CFA institute (we are assuming it is based on the intake’s bell curve!) but we encourage candidates to aim minimally 70% of the points by topic to try to be amongst the right hand side of the bell-curve!

Read more on the above quote here . If you need any help in understanding how to read your topic area performance summary then read the official release by CFA Institute here .

Last but not least, Funds Partnership Asia wishes all candidates taking their CFA Level III paper good luck but always remember: Exams are always going to happen. You are either going to pass or fail but that one sheet won’t decide your future!

Singapore Variable Capital Companies Market Update

wow@shazamme.com (Default Author) — Wed, 08 Jul 2020 05:22:19 GMT

Infographic on the Variable Capital Companies Act in Singapore

Sources from:
ACRA Gov List of VCCs as of 26th June 202
0The Straits Times, Business Article on 7th July 2020, Singapore’s new fund structure makes a strong start

77 Seconds of #WTFunds – Misconceptions about working in the buy-side

wow@shazamme.com (Default Author) — Wed, 24 Jun 2020 05:27:21 GMT

77 Seconds of #WTFunds by FP Asia talks about everything happening in the investments industry. Hear first hand your questions from specialist recruiters from Funds Partnership Asia – career moves, salary negotiations, market insights; you name it, we’ll strive for it. Got a burning question and need recruitment advice? Send your questions to careers@fundspartnership.com and we’ll answer it!

#fundspartnershipasia #fpasia #77seconds #wtfunds #fundlife

CFA Level II: How To Bring Your A-Game A Second Time

wow@shazamme.com (Default Author) — Wed, 17 Jun 2020 05:32:38 GMT

Congrats, you’ve got the first one in the bag. We can’t promise you that it’ll be much easier hereon, but now that you’ve got a glimpse of the rigour involved, we’re confident that you’ll be able to take this in your stride. Deep-diving into fixed income and portfolio management, we help you break down how to tackle these 21 item set questions in three hours, and how to best prepare yourself to ace this, a second round.

Curriculum Weightage:

The curriculum weightage is the key for anyone preparing for the CFA exams! In addition to the topics on “Ethical & Professional Standard” and “Financial Reporting & Analysis”, topics “Equity” , “Fixed Income” and “Portfolio management and Wealth Management” are set to weigh the most in the coming CFA Level II paper, students are advised to spend more study time on the concepts and tools on the above topics.

Costs Incurred:

We are certain you would be able to find countless of articles about how much it costs financially to take the CFA Level II paper but here we summarised a whole list of costs (financially, effort, time, etc) that you would have to pay for as you attempt your paper:

Exam Duration & Question Format

Did you know that the CFA paper 1 is split into two sessions – one in the morning and one in the afternoon? Intensive period indeed.

a) Morning: 120 questions (3 hours)
b) Afternoon: 120 questions (3 hours)

That means you have approximately 1.5 minute to attempt every question. These are mutually exclusive questions with three available answers per question in a similar format below:

Which of the following is least likely to be considered as an alternative investment?

Real Estate
Commodities
Long-only Equity Funds

Release of Results

The most nerve-wracking part of CFA Paper 1 only occurs 60 days after completing the exams – the release of the Exam Results. The minimum passing score for the CFA level 1 paper is never disclosed , says CFA institute (we are assuming it is based on the intake’s bell curve!) but we encourage candidates to aim minimally 70% of the points by topic to try to be among the right hand side of the bell-curve!

Read more on the above quote here . If you need any help in understanding how to read your topic area performance summary then read the official release by CFA Institute here .

Last but not least, Funds Partnership Asia wishes all candidates taking their CFA Level 1 paper the best of luck but always remember: Exams are always going to happen. You are either going to pass or fail but that one word does not get to decide your future!

All in A Day’s Work : Financial Controller, Alternative Asset Manager

Wed, 10 Jun 2020 05:45:24 GMT

Cash flows, valuation, accounting, and fund structures, budgeting, reviews… As the one who holds the purse strings, you are smack in the intersection of activity and decision-making! Discover what it’s like to juggle concurrent transactions throughout the day with multiple stakeholders (funds, regulators, bankers, lawyers). Here’s a day-in-the-life of a Financial Controller:

9.00am: Coffee first! Then let’s organise our day.

10.00am: Let’s start our Finance team meeting and go through our firm’s existing funds, their Special Purpose Vehicles (SPVs) and incoming funds.

11.15am: Gotta attend a board meeting for Fund A that invests in logistics. My role here is to present the valuation, call for capital, discuss cash flow and answer any dividend-related queries on behalf of the firm.

12.30pm: Lunch time at last!

1.30pm: Looking into the upcoming Fund C that invests in a commercial space. There’s a conference call I have to sit in later at 5pm, let’s prepare for it.

Here’s my to-do list before that first call:

Review the 30 SPVs structured,
Set up the fund structure
Liaise with the Limited Partners (LPs) and understand their requirements later

3.20pm: Quick 1-to-1 mentoring with our Junior Accountant to brief him on auditing the investments. Promising chap as he picks up quite fast!

4.00pm: Going back to reviewing and taking note of possible changes in some of the SPVs for Fund C. One more hour till the next meeting – shall brief the Senior Accountant & invite her to join in the call as well!

5.00pm: Call with Fund C has begun! Great, glad to see Senior Accountant 2 stepping up to be accountable for the SPV level, while I take the lead on the fund-level finance responsibilities.

6.15pm: Great call, managed to understand the Limited Partner’s (LP) requirements and expectations for Fund C – targeting to have this up in the next 6 months! Time to debrief with Teammate 2 to identify and clarify any technical understanding discrepancies. These include the IFRS framework, service providers (e.g auditor, fund administrator, lawyer, banks, etc) and the frequency of the reporting review.

6.35pm: The firm has recently launched a new joint-venture (JV) Real Estate fund, Fund B. Preparing the first valuation for Fund B and calculating the capital to call for in tomorrow’s meeting with the LPs. It’s going to be a long night…

7.45pm: Let’s call in dinner first – thank goodness for delivery apps!

8.35pm: Back to the grind for Fund B – last lap: consolidation and tax calculation…

9.45pm: We are done for Fund B. Now to look into the corporate accounting side of this firm: monthly accounting reviews by our service provider and to analyse the balance sheets before reporting back to the Chief Financial Officer in our headquarters!

11.30pm: That is a wrap! It’s time to go home, finally!

About the Author

77 Seconds of #WTFunds – How Do I Land a Job in a Private Equity Firm?

wow@shazamme.com (Default Author) — Wed, 03 Jun 2020 06:03:45 GMT

#fundspartnershipasia #fpasia #77seconds #wtfunds #fundlife

MAKE OR BREAK: What is The Best Commission Structure For Your Sales Team?

wow@shazamme.com (Default Author) — Tue, 26 May 2020 06:18:54 GMT

It can certainly be challenging to figure out which type of incentive compensation plan best aligns with your company’s goal. After all, a well-defined compensation structure is critical to the strength of any team and can make or break them. If it matches the needs of employees and reflects their efforts and successes, it promotes growth. However, if it poorly reflects their efforts, it can be a great de-motivator.

After several conversations with a variety of sales professionals, across different seniority levels in the fund administration space, I’ve put this article together to give you an insight on the different commission structures out there.

Most of our clients follow the traditional sales compensation structure which includes:

a base monthly salary + commission structure

Though there are a selected handful who chose to use variable bonuses instead of a commission structure, this makes up only less than 12% of the Fund Administrators in APAC.

Let’s discuss the variable in this equation : the commission structure.

Here are 3 commission models that are commonly utilized by Fund Administrators today:

It was those trying times that created the biggest growth for me as an individual and as a female leader.

Revenue Generation model:

The revenue-generated commission model is not as widely used as before but still rather popular. If a salesperson manages to sell a service, they get X% in commission for doing so. It would be mostly suitable for organizations looking to grow their market share or enter a new territory as these organizations are not as focused on profit yet.

Gross Margin model:

The gross margin model is a slight variation to the revenue commission model. Instead of a percentage of the revenue, the salesperson earns a percentage of the profit earned by the company. The gross margin model encourages the salesperson to sell the company’s services at a higher price due to the mutual inclusivity of the fee earned and the salesperson’s commission earned. This is great for companies with flexible price margin structures and it also spurs the individual to work harder.

Tier-based Commission model:

A tier-based commission model is a great way to incentivize top sales professionals to continue to bring the bacon home even after meeting their thresholds for the month, quarter or even for the year. After closing a certain number of deals, the commission rate increases. This model is great for medium to large institutions with a larger budget to stretch and stimulate their hunters to continuously quest and attain new market shares. Conversely, if these sales professionals do not manage to clear their minimum thresholds, they do not earn a penny at all. An example would be a candidate who shared with me an interesting commission structure: being given a flat fee for every new client on-boarded on top of his usual commission rate. This was a flexible arrangement by his existing employer to further inspire him to keep bringing new businesses to the firm.

So what’s our biggest takeaway from the best sales professionals in the industry?

The best salesperson often looks at the total amount he/ she takes home every day.

Another top sales leader of the industry shared with me the importance of the take-home package. She was willing to go to the extent of taking a slight cut in her base salary as she was compensated with a higher commission package in her next career move.

With so many existing compensation packages available it is also important to realise that no single remuneration structure will fit all your employees. With the above pointers in mind, my research gathers that sales professionals believe in having a commission structure that encourages them to continuously believe and sell a company’s offerings; because their growth in career and wealth is parallel to the company’s growth.

Funds Partnership Asia has assisted the majority of our clients in structuring an effective remuneration package for sales professionals. We take the time to understand your firm’s capacity, expectation and overall strategy and align with individual candidates’ motivations, capabilities and the value they are able to bring onto the table. If you are looking to on-board a new hunter into your team or looking to understand what your competitors are doing to remain competitive, reach out to Justin Lee for a discussion on the market today.

Here We Grow Again, Part 4 : Not Just Any Other Back Office!

wow@shazamme.com (Default Author) — Wed, 20 May 2020 06:29:56 GMT

Landed in the Back Office after navigating through our mind map ? Welcome to the club – you’re not alone!

While many have described this section of the financial institution to be invisible, it is no doubt that this section of a financial institution is the backbone of all business operations. While many may deem this sector to be either mundane and boring, we beg to differ. In fact, the Back Office has MUCH to offer in Financial Institutions and is very essential.

Why is this function commonly termed “behind-the-scenes?” What key roles does this section play in a financial institution setting? By observation and research, most people working in the Back Office tend to be of a certain personality type and possess a variety of key traits that are crucial to its function. Not everyone loves high-intensity meetings with clients, is gifted with the glib of the tongue or thrives in client-facing all day long While many do end up growing into the role, there are some who are naturally predisposed to thriving in such an environment.

Wanna find out more? Keep reading on!

Three Personality Types by Myers Brigg’s:

ISTJ – Hardworking individuals that value responsibility and commitment
ISFJ – Modest and determined individuals
INFJ – Thoughtful professionals and driven by principles

What are some key traits of Back Office individuals?

1. You love getting into the technicalities

Technical knowledge is what keeps you going everyday and you are intrigued by the specific technicalities of your role. Why are the formulas in this format? Can we solve this problem more effectively through another perspective? Does it actually spark joy in you to describe a solution that you enjoyed implementing?

2. No detail gets past you

Your eye for detail is superb – you are the resident grammar nazi. When it comes to alignment of the paragraphs or picking out a bottleneck in a process you are familiar with. These easily are some scenarios you might resonate with. Organising an event and have back up plans B, C and D for unexpected circumstances? You’re going to thrive in a Back Office function!

3. Numbers are life!

Because numbers truly never lie – they say numbers describe historical events and can forecast tomorrow’s! You enjoy reconciling numbers and it is like they are telling you a story of what happened and what are things to look out for as you balance the sheets.

4. No process, No-Go

Ever envisioned how to solve a problem with a flowchart? Do you enjoy ensuring structures are in place whenever a recurring problem arises in order to tackle it effectively and efficiently? Are you logically driven – It’s always either a this or that, yes or no.

5. Effective Communicators

“Communication is key” – You live, breathe, and stress on this phrase, and apply it across all facets in your life: work, play, self. Sometimes, over-communication is even necessary. After all, everyone drops the ball at some point and no one is a mind-reader right?

Did we just describe you?

What kind of educational backgrounds do you require to begin your middle office journey?

Bachelor’s Degree in Banking and Finance, Economics, Accounting and Finance, Business Administration

Internships

Pursuing any specialist diplomas will be an added advantage

If you’re interested to find out more about the opportunities in Front Office, Middle Office or Back office, have a look at our job opportunities here and speak to the consultants in charge of the role.

CFA Level I: How To Nail It on Your First Try

wow@shazamme.com (Default Author) — Tue, 19 May 2020 06:33:40 GMT

We all know the first paper is foundational – and can be the most daunting for those just starting out on this CFA journey. No need to do anymore guesswork – we’ve compiled exactly what you need to know here so you can allocate your time, energy and focus in the right areas. Be well-informed on the breakdown of Curriculum Weightage, Costs Incurred and Exam Duration before you decide to take this leap!

Curriculum Weightage:

The curriculum weightage is the key for anyone preparing for the CFA exams! With the topics on “Ethical & Professional Standard” and “Financial Reporting & Analysis” set to weigh the most in the coming CFA Level I paper, students are advised to spend more study time on the concepts and tools on the above topics.

Costs Incurred:

We are certain you would be able to find countless of articles about how much it costs financially to take the CFA level 1 paper but here we summarised a whole list of costs (financially, effort, time, etc) that you would have to pay for when studying for your first paper, on first try:

Exam Duration & Question Format

Did you know that the CFA paper 1 is split into two sessions – one in the morning and one in the afternoon? Intensive period indeed.

a) Morning: 120 questions (3 hours)
b) Afternoon: 120 questions (3 hours)

That means you have approximately 1.5 minute to attempt every question. These are mutually exclusive questions with three available answers per question in a similar format below:

Which of the following is least likely to be considered as an alternative investment?

Real Estate
Commodities
Long-only Equity Funds

Release of Results

Read more on the above quote here . If you need any help in understanding how to read your topic area performance summary then read the official release by CFA Institute here .

All in A Day’s Work : Client Services Director, Private Trust

Wed, 13 May 2020 06:40:31 GMT

Have a knack for business development while aspiring to provide first-class personal service for existing and new clients? How about a leadership role that allows you the breadth of international exposure while deep-diving into personal relationships?

Here’s a glimpse of a day-in-the-life of a Client Services Director with 10 years of experience under his/her belt.

7.45am: Rise and shine everyone! Time to grab breakfast and have it in our office pantry with the other early-bird teammates!

9.00am: Let’s start off our day with yesterday’s emails – quite a few things to follow-up with and it’s always better to clear any backlog in advance.

10.45am: Seems like we’ll be having a meeting at 3.30pm with this new Middle Eastern Client B that is looking to take advantage of setting up a trust in Jersey. Let’s prepare some of the materials we will need for our conference call later.

11.30am: Got pulled into a last-minute conference call with one of our Sales guys – heard Client A was asking about some general understanding of the Cyprus International Trust framework and its benefits.

12.05pm: Lunch appointment with Client C – it’s about time we caught up! Heading over to our favourite salad bar.

1.30pm: Glad we’ll definitely be value-adding to them in the near future! Back in the office and ready to do an internal training session on Trusts in Asia with the new joiners of our trust administration team. Welcome onboard!

3.20pm: COFFEE BREAK (phew, needed it!)

3.30pm: Let’s hop on that video conference call with our meeting with Client B!

4.45pm: That was a great call. Though the trust structures that Client B was expecting is slightly complex but, clients’ are at the centre of what we do! Handing this over to our Jersey team as the structures are confirmed! Ok, time to quickly catch up on emails.

5.15pm: Malaysian Client D is looking to set up a trust structure in Shanghai. Is this the right place to be in though? Hong Kong’s ORS might be more suitable given that he is looking to: 1. Preserve wealth for future generations and 2. Find a safe place for their overseas assets. Let’s understand him better and see if my proposed solution is more suitable.

6.45pm: Great – he’s open to take in my suggestion. Done for the day! Time to wrap up on some incoming emails from our international offices and prepare for the next internal training meeting on “How To Use Trusts To Better Structure Family Assets.”

7.35pm: That is a wrap everyone, let’s go for some drinks!

About the Author

Diving into the Deep End: Life In FP Asia as a Creative

wow@shazamme.com (Default Author) — Tue, 12 May 2020 06:50:47 GMT

Over the years, organizational culture has grown to be one of the most important factors which employees look into before deciding whether or not to jump on board a company.

Deciding whether or not to join us? Catch a glimpse of life in Funds Partnership Asia as we peer into the life of Shahizan – our creative pro and project administrator – through an interview to check if this is the place for you!

What have you learnt?

Considering that this is my first job, there is really so much I have learned from working at Funds Partnership Asia.

As I’m new to the industry and the workplace, there is much that I do not yet know. I’ve been blessed with many awesome mentors who sharpened me along the way, and taught me the value of communication. My bosses have been very nurturing and they have created a safe and comfortable environment that encourages me to ask questions. There is really such power in asking questions and really, it’s part of communication.

I also had the chance to expand my creativity even as a project administrator in Funds Partnership Asia because I’m given the opportunity to try out the things that I want to. In my case, I had expressed my interest in marketing much earlier on and in return, I got to be heavily involved and support the marketing team! Things are always changing and we’re always aiming to push out new content that will benefit our community. When it comes to opportunity, there is PLENTY here which I’m grateful for!

Coming into the funds industry without prior experience, I was worried that I may not have been a good fit in this industry. However, I’ve had amazing mentors who constantly taught and guided me along the way. Now, I know most of the industry’s jargons and have since gained much knowledge of the industry in a short period of time. I believe that my growth has been accelerated because of nurturing mentors who were willing to walk me through this journey.

What do you like about the culture here?

Being a foodie, I absolutely LOVE the fact that there is a CONSTANT SUPPLY of food in the office (HOORAY)! I also love that there isn’t much of a hierarchy in the company and thus, less red tapes. Things can run pretty smoothly here, and I get to communicate directly with my bosses. I’m grateful for freedom not just to directly communicate with my bosses, but also to explore new designs when it comes to marketing collaterals. In short, I just love the freedom I get here and how I don’t have people breathing down my neck 24/7!

One cool fact about your boss, Ayyaz?

Ayyaz is someone who strikes amazing balance in his life: when it’s time to work, he works; when it’s time to do life, he does life. He separates the two, and is hence extremely approachable.

Would you consider pivoting?

I was interested to but I am slightly intimidated because of my past experiences. I was once interested in finance and after testing out in the front office, I realised that I did not fit in there. However, I do believe that if I would push myself a little more, I’d thrive in the middle office!

What are the challenges?

Considering the fact that I did not know much about marketing and the funds industry, it was quite a stretch for me – especially at the beginning. But as Lao Tzu once said, “The journey of a thousand miles begins with a single step”. The first step is always the hardest but I’ve realised that as I took 1 step at a time, step by step, I got into the motion of things and started learning more and more on the job. There was accelerated growth for me as I took the step of faith into this role in Funds Partnership Asia and I’m glad to say that I enjoyed a good, fulfilling challenge!

We hope that you’ve managed to get a good peek into what life at Funds Partnership Asia is like, and that you’ve been inspired by Shahizan’s story!

Keen to join us? We’ll be more than honoured to walk this journey with you!

#CFAskAnything : Introduction

wow@shazamme.com (Default Author) — Wed, 29 Apr 2020 06:57:21 GMT

Always wanted to get a CFA but don’t know how to even navigate this seemingly complicated and convoluted journey? We’re giving you the ultimate guidebook for this, so you’ll get to cut the clutter and get to your end-goal faster. We can’t promise that it’ll be easy, but that Life After CFA will infinitely open up more possibilities. Let’s go:

What is Chartered Financial Analyst (CFA) designation about?

It’s an accredited professional qualification for investment management professionals by the CFA Institute . This non-profit organisation supports aspiring and current investment professionals with an education, a code of ethics to follow and several other relevant education programs and certifications.

The internationally recognised qualification is a testament to your understanding of advanced investment analysis and portfolio management skills and is aimed to help advance your career, especially if you are a professional that is primarily involved in any part of the investment call process!

Why would employers hire CFA certified professionals?

The CFA® designation represents more than just a title to add into your curriculum vitae or resume. It is also a representation of the diligence, effort and the perseverance to attain the accreditation.

Employers look out for great talent that demonstrates strong technical capabilities and a winning attitude in the market. With less than 20% of aspiring candidates that manage to make the mark, this illustrates the cream of the crop for investment individuals. Furthermore, possessing the grit to go through the grueling hours of the program testifies towards the individual’s positive character traits – now which employer does not want to bring a good combination of the two onto their team?

Who should consider pursuing this qualification and are there any other similar accreditation?

The program is aimed at investment management professionals who are active in the investment decision-making process – such as fund managers, research analysts on both the buy and sell side, traders, etc; in asset management firms such as hedge funds, private equity, real estate investments, traditional funds, investment advisory services, etc.

However, this now goes beyond front-office related functions and more middle to back office fund operation professionals are taking it up to enhance their career. Beyond the buy and sell side institutions, some service providers are elevating their services to fund managers by better equipping themselves with the education to service better.

If you are an employer, read here to find out more benefits of the CFA program it has towards your firm.

When are the CFA examinations happening and when can I complete this program?

The CFA Program comprises a series of three exams; Levels I, II, and III.

All exams are offered annually in June and the Level I exam is also offered in December. Due to the coronavirus (COVID-19) outbreak, CFA has postponed all June exams till further notice, but not for CFA level I candidates!

The Level I exam that is happening on 5th December 2020 is still on – remember to take note of certain dates pertaining to the registration for the exam!

The program is just like pursuing any educational program and would estimate an average of over 4 years to complete all three exams! Definitely not a quick fix to any ailing careers but an enhancement for career advancements.

How does this (or any other similar) qualification benefit me?

There are many similar qualifications to the CFA program, to name some of the popular alternatives:

Master of Business Administration (MBA)
Chartered Alternative Investment Analyst (CAIA)
Financial Risk Manager (FRM)

While the above programs target different investment professionals, the one thing in common that all these offer is the enhancement of your career paths through education. Possessing any of these globally recognised qualifications strengthens your resume which increases your earnings by up to 39% and opens new windows of opportunities in your career search!

Ultimately, the decision is YOURS to make, but what better time then now?

In this series of #CFA, we look forward to growing through the CFA levels I, II and III exam journey with you and what is Life like after attaining this accreditation. Have fun, and happy answering!

Here We Grow Again, Part 3 : Not For the Faint-Hearted in Middle Office

wow@shazamme.com (Default Author) — Wed, 22 Apr 2020 07:04:08 GMT

Landed in the Middle Office after navigating through our mind map ? Welcome to the club!

Congrats – you must have done your research on what the Middle Office has to offer in Financial Institutions! While many have described this section of the financial institution to be the-one-that-assesses-all-risks, it is no doubt that this section of a financial institution makes and saves quite a bit of money.

Why is this function commonly termed “The Voices of Reason” ? Are they ambiverts or omniverts by nature? By observation and research, most people working in the Middle Office tend to be of a certain personality type and possess a variety of key traits. It’s not everyone that can thrive in the midst of new, chaotic inputs from the front office while being the crucial link to the more operational side of things. While many do end up growing into the role, there are some who are naturally predisposed to thriving in such an environment.

Wanna find out more? Keep reading on!

Three Personality Types by Myers Brigg’s:

ENTJ – Logical, Analytical, Good Strategic Planners
ESTJ – Realists that make practical decisions
INTP – Independent and creative problem solvers

What are some key traits of Middle Office individuals?

1. Orderly

You like processes and systematic approaches! Typically a compliant person by nature, you prefer to go according to the books – since it’s tried and tested, why not just follow it right? After all, that’s the safest way!

2. Responsible

Your friends typically know that you can be counted on, and that they can rely on your support to get things moving – projects, homework, events – anything and everything. You have a natural sense of accountability and you assume responsibility for things entrusted to your care – and that’s very admirable!

3. Analytical

Crunching numbers all day long? No sweat. In fact, it can be pretty exhilarating to see everything line up. Staring at figures, charts and deducing what the figures are trying to tell you? Totally your vibe – you are an absolute natural.

4. Meticulous

Details, details, details. You pay a great amount of attention to the little things because- they matter! In a role where you support the front office, the processing of the trades and ensuring that the data is accurately keyed is something you gain great satisfaction from.

5. Effective Communicators

“Communication is key” – You live, breathe, and stress on this phrase, and apply it across all facets in your life: work, play, self. Sometimes, over-communication is even necessary. After all, everyone drops the ball at some point and no one is a mind-reader right?Did we just describe you?

What kind of educational backgrounds do you require to begin your middle office journey?

Bachelor’s Degree in Banking and Finance, Economics, Accounting and Finance
Internships
Pursuing any specialist diplomas will be an added advantage

a base monthly salary + commission structure

Though there are a selected handful who chose to use variable bonuses instead of a commission structure, this makes up only less than 12% of the Fund Administrators in APAC.

Let’s discuss the variable in this equation : the commission structure.

Here are 3 commission models that are commonly utilized by Fund Administrators today:

It was those trying times that created the biggest growth for me as an individual and as a female leader.

Revenue Generation model:

Gross Margin model:

Tier-based Commission model:

So what’s our biggest takeaway from the best sales professionals in the industry?

The best salesperson often looks at the total amount he/ she takes home every day.

Navigating Uncertainty: How Covid-19 Disrupts Traditional Thinking in the Funds Industry

wow@shazamme.com (Default Author) — Thu, 16 Apr 2020 07:13:16 GMT

The newly discovered coronavirus (COVID-19) that shook the world in Dec 2019 has taught us human beings one thing:

The world will always be vulnerable against any infectious diseases.

While our approach to tackling this pathogen has been modern, practically the only approach that has yielded the most effective results are rather primitive : temporary shut down of the global economy to halt the further spreading of the virus. How can we then navigate out of this uncertainty and start preparing for a more sustainable future? It simply boils down to 3 adaptations in our train of thoughts:

Critical Thinking
Creative Thinking
Lateral Thinking

This crucial set of reasoning, analysis and solving today’s complex problems now goes beyond mere observance, assessment and reaction. In the name of social distancing, business leaders are forced to react and engage in the largest work-from-home (WFH) experiment, after all it is the right course of action to sustain the business and remove the possibility of infecting healthy staff.

However, critical thinking can go beyond doing the right thing and evolve into doing what is right for the business. Covid-19 has also forced many businesses into a state of digital transformation, adaptation and urgent implementation of Business Continuity Planning (BCP) processes to counter the uncertainties of tomorrow.

An example would be the gradual introduction of new working routines from team splits to a full remote-working situation which resulted in multiple benefits:

Minimising in-person interaction
Allowing their staff time to adjust to the new routines introduced
Granting flexibility (to varying degrees) for staff to accomodate to new business needs.

Such measures were seen across the board from service providers such as fund administrators to large buy-side firms. Doing what is right is ensuring the safety of staff for businesses to continue operating. Doing what is right at an individual level, is to put in your best foot forward and accommodate to the new workflow processes and business environment.

We definitely can acknowledge that these are challenging times for the global economy but they are also windows of opportunities to move the industry forward in a new order of fashion.

Creative thinking is all about:

Connecting the dots. It’s about exploring the connections, meeting a brand new problem and seeking out an unorthodox way of solving it too.

Asking the right and relevant questions on how to sustain a business is a good starting point. These include: How can fund administrators still deliver to their fund managers and investors without compromising due to current circumstances? How can we build trust in our teammates to be equally (if not, almost) productive at home? How can we continue to strive for that business goal we have set before the impact of Covid-19? What can investors leverage on (or even who?) to knock out competition from seizing the investment of the year? What else can we, Funds Partnership Asia offer as a service to assist our clients, partners and ourselves in this bad situation?

Creative thinking is an unusual interpretation of the situation and it definitely includes some of the wildest ideas that act as catalysts to spark the dawn of a new era.

The most undervalued skill is lateral thinking, which is a combination of both critical and creative thinking to arrive at a logical and an unconventional approach to an unexpected, timeless predicament.

These include:

Deriving alternative solutions from the present situation
Having a focal point where many competitors have missed out on and improving on that one idea
Challenging the perception of traditional thinking to mold new ideas and making a paradigm shift in the way of doing things.

A recent example was hearing one of our clients sharing about their current overhead costs of their staff and their reluctance to let them go just because of Covid-19’s impact on the business. They were in a dilemma: They needed that extra pair of hands during peak period but could not afford them in this climate. So we came in with a solution, risky enough to knock our main business model out of the picture, but it was always about putting our clients at the centre of what we do – impacting individuals and empowering economies. And we did it, all through a simple mobile application.

So how did this global pandemic disrupt our traditional thought process of dealing with human capital issues? Well, I encourage you to think about it.

Appendices

All in A Day’s Work : Hedge Fund Manager

Wed, 08 Apr 2020 07:23:15 GMT

As a hedge fund manager, you may be best friends with NYSE, NASDAQ & Bloomberg. Does one have work-life balance? Is it pure hustle or hard-core analysis? In this series of #AIADW, we go right in to find out more about a day-in-the-life hedge fund manager.

Heads-up role is not for the faint-hearted or the fearful. Read more here:
(Note: this schedule is based on non-COVID times, where no social distancing is required!)

4.45am: Good morning world, how is NYSE / NASDAQ doing today?

5.00am: Let me catch some snooze first since the world is not collapsing today; we’ve got a long day ahead later.

6.10am: A quick brekkie, prep for today and out of the house! Getting ready for our first meeting at 8.20am later.

7.45am: Grabbed my favourite coffee at Dean & Deluca while looking through my emails from last night! SGX seems to be stable…. Let’s just do a quick review on the fund’s current positions from yesterday’s report.

8.20am: Quick internal meeting with my analyst and trader to discuss today’s new trading opportunities and what existing open positions we currently have. Yes, finally reached a decision on today’s orders for the day.

8.59am: Time for a quick monitoring of the market – hmm, anything that could impact our current holdings? I see a potential new position, let’s make the call to open an order. Should give a ring to some contacts on that rumour i heard of a potential upcoming merger.

10.30am: Just got off a call regarding a secondary offering… interesting one but i need to look into it.

11.50am: Got an interview for a potential analyst in 10 minutes, where is his resume?!

1.15pm: Barely sat back on my desk to check on the market positions (again) and was bombarded by questions by the traders.

2.00pm: Let’s make some calls to a few potential investors to get some market insights and hopefully – snag a new deal. Going on a couple of calls with some of my prime brokers to discuss the markets and for any new inside scoop.

4.15pm: Got a meeting with a fund investor for this USD30mil size, perhaps we need to negotiate on the management fees or something…

5.30pm: Jumping onto a conference call for a company that we have a significant position in. Also, catching up with the business… I shall let it run in the background while I do more research on the funds’ current holdings.

6.00pm: End-of-day meeting to review the funds’ status from traders, the analysts and researchers, identify tomorrow’s potential opportunities for existing funds and compile all of today’s paperwork – research reports, notes and some accounting tasks.

7.35pm: Finally done! Let’s go home!

About the Author

Here We Grow Again, Part 2 : Survival of the fittest in Front Office

wow@shazamme.com (Default Author) — Wed, 25 Mar 2020 09:56:36 GMT

Landed up in the Front Office after navigating through our mind map ? You must have done your research on what the Front Office has to offer in Financial Institutions! While many have described this section of the financial institution to be glamorous, it also includes a bucket of hard work, sweat and tears.

Does it only attract risk-taking dare-devils? Is there room for someone more tempered, logical and analytical? By observation and research, most people working in the Front Office tend to be of a certain personality type and possess certain key traits. While many do end up growing into the role, there are some who are naturally predisposed to thriving in such an environment.

Wanna find out more? Keep reading on!

Three Personality Types by Myers Brigg’s:

ESFJ – Gregarious traditionalists and highly self-motivated
ENFJ – People-lovers, energetic and diplomatic
INTJ – Creative, Independent and constantly exploring new ideas!

What are some key traits of Middle Office individuals?

1. Ambition

You have huge goals you wish to achieve in life and you work hard towards your goals. You possess a great deal of stamina and are highly motivated in everything you do in life. Your friends describe you as an energetic person and you enjoy being busy and productive all the time.

2. Extroversion

You absolutely enjoy involving yourself in various events and having lots of different activities. You love to engage in meaningful conversations with people. Your friends call you a “people person”. You don’t sit around and wait for things to happen; you make things happen!

3. High-Stress Threshold

Pressure doesn’t break you; it makes you. You feel the stress sometimes but you have the ability to turn the stress into productive energy to get things done.

4. Competitive

No competition, no progress. You enjoy having your performance measured and you want to know where you stand among your peers. You strive to be the best that you can be.

5. Workaholic

You are the true definition of a workaholic. Not having something to do drives you insane.

Did we just describe you?

What kind of educational backgrounds do you require to begin your middle office journey?

MSc in Finance
Chartered Financial Analyst (CFA) Qualifications
Multiple Internships

All in A Day’s Work : Corporate Secretary

Tue, 10 Mar 2020 10:35:38 GMT

Ever dreamt of being a Corporate Secretary? Ever wondered what secretary roles entail? Does being a secretary only consist of menial tasks like arranging for meetings, taking down minutes and running after the bosses?

Discover what exactly goes on in a typical day at work as a Corporate Secretary in this next series of AIADW:

8.45am: I’m in the office! But first, breakfast.

9.00am : Okay let’s start our day with emails and catch up from what came overnight.

9.30am : Got a board meeting with Client A coming up in 20 mins, just checking if the board packs I have prepared 2 days back are all consolidated and ready to be circulated…

11.40am: Okay we’re out of the meeting, mental note to facilitate the logistics of the next meeting with Client A and send out some calendar invitations.

12.00pm: It’s lunch hour!

12.55pm: We should draft the minutes from yesterday’s meeting with Client B from Seychelles and send the circulation out to the client and Directors.

2.30pm : Going through some of the corporate records for my dormant clients as their annual audit approaches; got to ensure that the records are up to date, accurate, and just need to counter check some information with the respective lawyers…

2.50pm: Internal team meeting with the business development team, heard that they recently have been engaging with Client E; we have corporate governance matters on hand, some due diligence and outstanding documents that Client E has yet to furnish. Let’s see how we can work together to onboard them.

3.45pm: Some of the shareholders just rang and voiced out some opinions and questions with regards to internal company matters; have to note this down and raise this in the next general meeting with company C’s board of Directors.

4.00pm : On the ACRA website now: I have to update Client D’s newly appointed Director that will be joining next month, and also the annual returns of Client A…

6.00pm: What a roller coaster today has been! I need a quick pick-me-up – dinner it is!

8.15pm : Let’s prepare the Director’s report for Client G. At the same time, I should send an email to remind them about the filing deadline that is coming up in 1.5 week’s time and perhaps include a gentle reminder on ACRA’s annual compliance reminders.

9.00pm: First meeting with Client F from Bermuda – exciting stuff, lots of action points ahead! Got my own minutes template and action lists readily prepared.

10.15pm : It’s been a fulfilling day, let’s get some rest!

About the Author

The Next Frontier for the Healthcare Sector

wow@shazamme.com (Default Author) — Thu, 27 Feb 2020 14:22:54 GMT

In an over-saturated market in North America and Europe, how can Family Offices find their breakthrough and new opportunities in the pharmaceutical and healthcare sector? In this exclusive interview, we glean insights from Arkin Holding’s Chair & CEO, Mori & Nir Arkin, on the business development in the global healthcare sector and its future trajectory into uncharted territories – Asia.

Share with us your career trajectory in a nutshell.

M: I started my career at Agis – the company my father, Ziama Arkin, started. Agis is a certified Israeli pharmaceutical importer for a number of foreign pharma companies. Due to my father’s untimely passing, I took over the company at a young age of 19. I had to juggle running the business while serving in the Israel Defense Forces and completing my degree in Psychology.

In 1994, we purchased our first production facility, Clay Park with the aim of expanding into drug development and production. During which, I served as the principal shareholder and chairman of the board. Within the next decade, Agis grew into one of the biggest leaders in the dermatological generic space in the US. With its success, we sold off Agis to Perrigo for US$818 million in 2005.

After the sale, I founded Arkin Holdings in 2009. I focused on the market I knew best – healthcare. I wanted to empower pioneering developments in healthcare, focus on pharmaceuticals, biotechnology and medical devices .

Arkin Holdings is the professional and financial platform that made all these developments possible. It is an Israel-based investment holding company specializing in healthcare investments. We operate through our four investment arms: venture capital, private equity, hedge funds and direct investments .

Since then, I am constantly searching for opportunities to participate in innovative healthcare endeavors that provide solutions for unmet medical needs. Through our portfolio of holding companies, we contribute to their R&D and growth with pharmaceutical knowledge, deep market outreach, significant investment experience and financial resources .

N: I started my career as a lawyer in 2012. Even while studying law, I had an interest in capital markets. This led to my internship stint at the capital market department of the Shibolet law firm under Moshe Ne’eman and Gil Rosenberg.

A year later, I was roped into my family business with Arkin Holdings. To prepare myself to lead the business, I underwent a year-long replacement training with the former CEO, Menachem Inbar. While it was an intensive experience, I gained valuable insights into the various areas of Arkin’s activities.

Since 2014, I served as CEO and actively invested and collaborated in life sciences. By forging partnerships with institutional investors and leveraging on our technical expertise, we actively grew the company’s portfolio.

How has Arkin Holdings grown under your leadership?

Today, Arkin Holdings has amassed a healthcare portfolio worth over US$1 billion through our four investment arms:

Arkin BioVentures (Pharmaceuticals & Biotechnology) – Invest in early and mid-stage companies with game-changing breakthroughs in areas such as immunotherapy, cancer and drug delivery platforms.
AccelMed (Medical Devices) – Focuses on medical device technology investments, integrating innovative and market-ready medical device technologies, into existing commercial companies.
Sol Gel (Dermatology) – Specializes in developments of technologies and products in dermatology.
Sphera Global Healthcare – Joint venture between Arkin and Sphera Funds Management in two global long/short equity Funds – Sphera Global Healthcare Fund & Sphera Biotech Fund.

Apart from my CEO duties, I currently serve on the board of directors at Sphera Global Healthcare and on the Accelmed and Sphera Global Healthcare’s investment committees. Sphera Global Healthcare was formed in 2007 as a partnership between Arkin Holdings and the largest hedge fund manager in Israel, Sphera Funds Management.

Over the years, we gained international recognition and awards for excellence among leading hedge funds worldwide. Today, Sphera has a record $1.5 billion in assets under management.

Our investors include Israel’s largest banks, leading insurance companies, the largest pension and provident funds in Israel, universities, public and private companies, organizations and institutions, leading family offices and private investors.

I’m proud to share that our current team comprises of more than 40 professionals, of which more than 20 are investment professionals. We have our headquarters in Tel Aviv and have offices in New York and Singapore.

What motivated you to move into the Asian market?

N: While our current portfolio is predominantly invested in North America and Europe, we find that we can no longer ignore the Asian market. It is simply too good an opportunity to miss.

Thus, we have been increasing our presence in Asia primarily through our hedge fund arm, Sphera Global Healthcare since 2016 .

In 2018, we took our commitment to Asia one step further by setting up a presence in Singapore. We hired a team of two professionals for sales and business development to explore all opportunities across all our investment arms. Our main focus was marketing our investment strategies to Asian investors.

What attracted you to choose Singapore as your launch pad for Asia?

M : I observed the surge in activities in the pharmaceutical industry in Singapore over the past decade. Over 30 of the world’s top pharma and medical technology firms, including pharma giants such as GlaxoSmithKline, Pfizer and Novartis have established manufacturing, R&D or headquarters in Singapore. I believe that Singapore is well-poised and headed in the right direction where we see upside potential and growth in the healthcare space.

N : I was personally drawn to Singapore due to two factors : continued support from policy makers and the rich talent pool.

Firstly, the Singapore government has constantly been very supportive of our industry. Since 1995, the Singapore government has initiated a series of five-year plans to embolden its science and technology ambitions. This included a committed budget of $19 billion to the Research, Innovation & Enterprise 2020 Plan (RIE2020)1 , which are targeted at four main pillars:

Advanced Manufacturing and Engineering
Health and Biomedical Sciences
Services and Digital Economy
Urban Solutions and Sustainability

Under RIE2020, the Health and Biomedical Sciences (HBMS) Agencies are tasked with the mapping of problem-solution pathways in order to facilitate the translation of research discoveries into healthcare solutions, innovative medicines or medical devices.

We understand that the Singapore Ministry of Health has identified five therapeutic areas in healthcare as areas of focus:

Cancers
Cardiovascular diseases
Diabetes mellitus and other metabolic/endocrine conditions
Infectious diseases, and
Neurological and sense disorders

Fortunately, these five areas possess huge potential and align with Arkin’s direction for our plans in Asia. With the support from policy makers, we anticipate ample opportunities and collaborations for the new decade.

Next, Singapore has a rich talent pool that is innovative and progressive . It is my personal belief that the growth in Singapore’s universities can be attributed to its national focus on excellence in research and education, and strong research infrastructure . Its rankings have steadily climbed primarily because of their improved research influences on an international level.

For example, take National University of Singapore (NUS) and Nanyang Technological University (NTU). They were ranked 12th and 13th globally in 2015, up from 22nd and 39th in the previous year.

Their field-weighted citation impact (FWCI) surpassed other top Asian universities, including the University of Hong Kong, the University of Tokyo, and the Peking University. Singapore became an obvious choice for us to be our headquarters in Asia. I’m looking forward to leverage on the brilliance of the local talent pool to further our R&D in the healthcare sector!

M : I found that Singapore has one of the friendliest business environment around. We know biomedical MNCs are increasingly seeking opportunities globally by collaborating with academia and other companies to enhance their R&D.

The Singapore government has made extremely hospitable for us to establish our subsidiaries here through a number of schemes. One such scheme will be the “plug-and-play” R&D infrastructure. Our subsidiaries can automatically claim tax incentives on our R&D expenses and clinical trial costs incurred as long as they are funded from Singapore.

Also, I feel that Singapore is the gateway to the Asia Pacific market . Its strategic location allows us to tap on the region’s pharmaceutical industry value chain from research and running clinical trials, to manufacturing and drug delivery,

What do you envision the next big move to be in Asia?

M : We are anticipating the alternative assets industry to grow to US$14 trillion in 2023 , from over US$8 trillion in 2017 2 . We believe a large proportion of assets will originate from Asia-Pacific.

From Preqin, 60% of fund managers believe they would see an increase in capital sourced from the region by 2023. In contrast to the less than 40% increase in capital sourced from North America, Europe and Emerging Markets, we believe Asia Pacific will have the greatest growth potential and the necessary resources to advance the healthcare space.

N : Hence, we plan to establish permanent presence in Asia , with Singapore as the Asian headquarters. We are looking at building an Asian Research Investments team to explore the rich biotechnology ecosystem of universities and laboratories in Singapore and in the region. Hopefully, this will lead to the development of a more Asia-focused investment strategy.

We are also looking to establish long-term relationships with Asian investors for our different investment strategies and develop strategic partnerships in Asia.

Here We Grow Again, Part 1 : Acing the Hiring Process With My Personality

wow@shazamme.com (Default Author) — Tue, 25 Feb 2020 14:55:45 GMT

Any fresh graduate would be daunted when stepping out of the comfort of the school walls. Many fresh graduates are often greeted with a common dilemma : “Where do I go from here? Where can I go from here? What can I do from here?”. We are certain that William Cobbett’s quote resonates with many : “ You never know what you can do till you try “. But how many jobs are we able to hop into in the name of trying and leave each time under the assumption that the role is not for us? What if we gave up too soon? What if, we are too little too late upon realising an opportunity that gives us ultimate job satisfaction?

However, George Eliot also once said,

“It’s never too late to be who you might have been.”

So whether it took you 1 month, 1 year or 10 years to figure out your calling, it’s never too late. But what about shaving that time spent figuring out in half? What about identifying it earlier so that you can enjoy job satisfaction and climb to greater heights over a longer period of time? Let Funds Partnership Asia be a part of your first career journey in the community of investment funds – we pool our resources, years of experience and typical hiring patterns all into : Here We Grow Again.

Got into the Front Office section in a financial firm:

Front Office opportunities basically involve a majority of the client-facing part of the firm, this includes roles that focus on working directly with and for clients. As this section has the most interaction with the clients, generally the revenue generation responsibilities for firms lies in these roles. This includes some opportunities such as:

Advisory and Consulting
Business Development / Sales & Marketing
Client Services
Trading
Mergers & Acquisitions
Investment Banking

Got into the Middle Office section in a financial firm:

With an increase in complexity of modern financial transaction, Middle Office opportunities predominately track and process all deals made by the Front Office team (see above). Beyond that, the Middle Office section manages all risks and ensure accuracy in executing transactions. This includes some opportunities such as:

Compliance
Corporate Strategy
Financial Controller
Risk Management
Product Controller

Got into the Back Office section in a financial firm:

Back Office opportunities comprise of all non-client facing and support services functions. Though invisible, the Back Office section is an essential function in any firm, enabling and equipping the front and middle office functions to perform their duties. This includes some opportunities such as:

Accounting
Administration
Human Resources
Technology
Operations

Family Offices in Asia : Why Singapore is Still #1 Choice

wow@shazamme.com (Default Author) — Mon, 17 Feb 2020 15:11:51 GMT

We speak to Arkin Holdings’ Founder and CEO, Mori Arkin and Nir Arkin on their decision to increase their presence in Singapore and how one of the top financial hubs in Asia help Family Offices seamlessly penetrate into the market.

About Arkin Holdings

Arkin Holdings is an Israel-based investment holdings company which specialises in healthcare investments across its four investment arms in venture capital, private equity, hedge funds and direct investments. With a healthcare portfolio worth over US$1bil, the firm’s portfolio predominantly invests in North America and Europe and recently decided to increase its presence in Asia through its hedge fund, Sphera Global Healthcare.

Why Singapore?

The pharmaceutical industry in Singapore experienced a surge in activities in the past ten years. Over 30 of the world’s top pharma and medical technology firms, including pharma giants such as GlaxoSmithKline, Pfizer and Novartis, have established some form of manufacturing, R&D or headquarters in Singapore. We believe that the country is well-poised and headed in the right direction where we see upside potential and growth in the healthcare space.

Continued Support from Policy Makers

Since 1995, the Singapore government has initiated a series of five-year plans to embolden its science and technology ambitions. Currently in its sixth cycle, the Singapore government has committed a budget of $19 billion to the Research, Innovation & Enterprise 2020 Plan (RIE2020)1, which are targeted at four main pillars:

Advanced Manufacturing and Engineering
Health and Biomedical Sciences
Services and Digital Economy
Urban Solutions and Sustainability

Rich Talent Pool

The growth in Singapore’s universities is attributable to its national focus on excellence in research and education, and strong research infrastructure. Its rankings have steadily climbed as a result of improved research influences internationally. Notably, the National University of Singapore (NUS) and Nanyang Technological University (NTU) were ranked 12th and 13th globally in 2015, up from 22nd and 39th in the previous year. The field-weighted citation impact (FWCI) of both universities also surpassed other top Asian universities, including the University of Hong Kong, the University of Tokyo, and the Peking University.

Friendly Business Environment

Biomedical MNCs increasingly seek opportunities globally to collaborate with academia and other companies to enhance their R&D. The Singapore government has welcomed such MNCs to establish their subsidiaries in Singapore through the initiation of a number of schemes, including one “plug-and-play” R&D infrastructure, where subsidiaries are automatically allowed to claim tax incentives on R&D expenses incurred in Singapore, and clinical trial costs as long as such activities are funded from Singapore.

Gateway to Asia Pacific

Despite being a small country, Singapore’s strategic location enables it to tap on its location in Asia Pacific to tap on the pharmaceutical industry value chain from research and running clinical trials, to manufacturing and drug delivery,

What next in Asia

According to Preqin, the alternative assets industry is set to grow to US$14tn in 2023, from over US$8tn in 20172. Of this, a large proportion of assets is expected to originate from Asia-Pacific with 60% of fund managers believing that they would see an increase in capital sourced from the region by 2023. This is in contrast to a less than 40% increase in capital sourced each from North America, Europe and Emerging Markets.

We maintain that Asia is a bright spot and are optimistic on the Asia growth story. Starting with establishing a base in Singapore, we:

Plan to establish permanent presence in Asia, with Singapore being the headquarters in the Asia time zone

Build an Asian Research Investments team to explore the rich biotechnology ecosystem of universities and laboratories in Singapore and in the region, thereby leading to the development of a more Asia-focused investment strategy

Establish long term relationships with Asian investors for our different investment strategies

Develop strategic partnerships in Asia

For strategic advice on how to set-up a family office in Singapore, please reach out to :

Robert Hayward

APAC Principal Consultant
robert@fundspartnership.com

5,000 New Funds & 10,000 Jobs – Are You Ready?

wow@shazamme.com (Default Author) — Wed, 29 Jan 2020 15:18:15 GMT

You may have seen this word VCC (Variable Capital Company) being used on LinkedIn by the Funds community in Singapore and if you are not a technical expert in Law, Tax or Accounting, you may be wondering what is all the big fuss about? New regulations come out all the time… so why should I care about this one?

Well, this new regulation does not just affect compliance professionals but it actually creates jobs for the entire funds ecosystem.

… the entire funds ecosystem, you say?

Yes it’s true – and this time, everyone actually wins (no fine print).

This growth of opportunities brings glad tidings to the many eager fresh graduates looking to enter the funds industry or those that are keen to switch from the sell-side to the buy-side or those that are working already in the funds industry. The VCC framework is the key to opening the floodgate of opportunities, where previously chances of entering this industry were extremely scarce. From here on Singapore will prove once again to the world how it can compete with the best in class and become the Luxembourg of Asia.

So, how does it create jobs and how many?

Within the first 2 days since the launch of the VCC, 20 new funds subscribed to the pilot launch and a minimum of 100 new VCCs are expected to register this year primarily because the VCC framework creates an ecosystem in the funds industry that is not only efficient and flexible but also cost-effective.

Funds Partnership Asia estimates that for every VCC entering the market – 2 brand new jobs could be created in the ecosystem. Whether it is a re-domiciled fund or a new fund that is due to launch in Asia, we are anticipating more than 5000 VCCs set up by end of this decade! That creates a whopping estimate of 10,000 new jobs.

This includes but is not limited to Fund Lawyers, Auditors, Fund Administrators, Company Secretaries; Trust Administrators, Independent Directors, Compliance and Risk Officers, or new Investment or Sales professionals. With this promising plethora of opportunities opening up, we expect a multiplier effect as the number of registered VCCs increase.

Let’s do a quick comparison with other global players: Dublin’s current fund management work force is approximately 15,000 professionals. On the other hand, the Singapore Fund management community alone employs between 7,000 – 8,000 people purely on the buy side, without taking into consideration service provider employment numbers. Imagine the knock-on effect on the wider economy as more VCC seeds are sown and harvested!

Anticipating 5000 new VCCs in the next 10 years may sound pretty ambitious to some but according to PWC, APAC Assets under Management is set to outpace any other region globally and almost double from $15.1 trillion in 2017 to $29.6 trillion by 2025. The past 15 years in this industry, together with common sentiments from my friends and connections in the field have led me to this conclusion:

OK, I’m in. How does it work?

Singapore is looking to offer any licensed fund manager up to 70% rebate on all fund set up costs (that is savings up to SGD150k!) .

Here are more highlights to look forward to:

Fund managers need only pay their service provider’s fees in one location instead of multiple locations.
Also, investors can expect greater tax efficiency that yields better returns.
Finally, fund managers do not just have to be in the same time zone, but can qualify if they are in same business district.

These are very exciting times ahead in Asia and especially for Singapore! Funds Partnership is looking forward to continuing our Funds Partnership pursuit of “Impacting Individuals and Empowering Economies” through the newly-launched VCC framework.With more funds re-domiciled or anticipated to launch, this framework could impact even more individuals (E.g more jobs for local talent) and empower economies (even beyond our funds community!)

With so much talk about automation taking away our jobs, I believe this is a refreshing shift. Indeed, while only time will tell, I truly believe that the VCC framework will single-handedly bring more opportunities and prosperity to both employees and businesses.

If you’re interested to find out more about Singapore’s VCC structure as a fund manager or to understand our services better, get in touch with me here:

Ayyaz Ahmad

APAC Managing Director

ayyaz@fundspartnership.com

Stage 6: Moving On of The Break-Up Series

wow@shazamme.com (Default Author) — Mon, 13 Jan 2020 15:35:42 GMT

It’s 2020 – no more excuses or wasting time. Finding the next career step or employee that brings out the best in you you should not be rocket science. There may be some difficult decisions to be made, but once you have, it’s all worth it! We help you break it down so you’ll never settle again.

Moving On

If you have not read our 6-part #BREAKUP series, here’s a quick flashback before we close with our grand finale:

As Mandy Hale once mentioned: “Sometimes it takes a heartbreak to shake us awake and help us see we are worth so much more than what we are settling for.” No longer is this a “who is to blame – employer or employee” situation, but a reframing of one’s mindset before plunging into your next career or human capital investment. If anything, remember that:

Breakups (between employees and employers) are a choice and that relationships end for a reason.
This is the opportunity to sort through your past relationship and figure out how to be better as an employee/ employer and at our careers.
A tough breakup takes us way outside our comfort zones – because the greatest opportunities for growth comes when we are uncomfortable.

Once you have accepted that it is time to move on and you are ready to take the plunge, here are the 3 key points we advise both employers and employees to consider before saying yes to the new job or hire:

2. Company Culture

Work-life balance – Flexible hours vs Fixed Schedules

Employee:

Finding that sweet spot of work-life balance which you desire is never easy, but it definitely is possible. Work-life balance looks different for everyone, but it starts by knowing what our priorities are. Is staying late in the office a no-no for you because your family is staying up waiting for you? Or would you rather work remotely so you don’t have to be trapped within your cubicle? Being the right fit goes beyond technical skill sets; it is like finding your soulmate. Anyone would want to wake up to a positive, dynamic and great team to plough through the tough days together.

Employer:

The struggle is real to provide that work-life balance for your employees. Maybe the dichotomy between producing high quality work and having happy workers is stressing you out. The complaints of your workers having to OT might sound all too familiar. At the same time, the grumbles of that last minute stakeholder request echoes in your mind when you think about work. When it comes to the intensity and the style of work that you offer, the transparency you provide your potential hires will create a higher success rate of finding one that is suited to your work-life balance!

2. Salaries and compensation structures

Fixed vs. Commission

Employees:

We know money matters, and you know that too! Our jobs are usually our primary source of income, and with rising inflation, how we are compensated definitely has a significant impact on our lives. It’s always a good exercise to do a recalibration of your budgeting every season to gauge your risk-appetite and if you’d need a fixed month-to-month salary. Or maybe you prefer seeing tangible returns directly to your efforts and don’t mind the pressure of extra month-to-month targets. While not all of us can command a 6-figure salary right away, starting on the right foot can make a world of a difference to your motivation levels, and will be the first step to start enjoying your new career.

Employer:

Salaries are important but should never be a deterrent or an eliminating factor. They say money can’t buy happiness and they are right in this context. Do you want to lose a great employee over a couple of hundred dollars (who could potentially save or make thousands even?)? Time is after all, money.

3. Progression

Generalist vs. Specialist

Employee:

Career growth is a natural expectation in any given job. Do you dream of becoming a director in 5 years? Or are you in a season of expanding your skill-set and or being exposed to new domains? Whether it is a development in titles, salaries, job exposures, maturity on the job, experiences, etc: progression looks different to every individual.

In your next job endeavour, focus and pick 3 specific goals that would bring you maximum job fulfilment. Write these down and ensure you communicate this clearly to your next employer. It’s time to flip the tables – find out how your employer can best support you in your growth journey.

Employer:

Why is it important for you to be concerned about an employee’s career progression? Investing in your employee’s career progression will not only keep them around longer, and it will help them get better at their jobs. Rather than letting someone go again, help employees visualise where they can be in five years time by building a long term plan. By identifying their key potential and setting right expectations, set actionable goals and follow through with them throughout their career. You are an important piece to building the right people for the company’s culture in the long run!

All in A Day’s Work : Compliance Associate Director

Thu, 09 Jan 2020 16:03:44 GMT

Does compliance in the funds industry mean an endless stream of reports and crisis management?

How much time is spent at one’s desk and how much of it is at conference calls?

Save yourself the legwork of finding out – we do the snooping so you can make better-informed decisions!

Check out our first 2020 edition of AIADW!

9.00am: Breakfast and coffee in hand, let’s conquer today!

9.15am: Admin matters out of the way : let’s settle last night’s emails and urgent client responses.

10.30am: Something exciting is brewing! Going to jump on a call with Client A on the potential regulatory implications regarding the newly set up fund and their SPVs.

11.08am: Meeting’s over! Time to conduct Client C’s compliance review and monitor for any money laundering activities.

12.32am: We’ve got a new fund set up by Client E. Time to go through the checklist with them: compliance questionnaire, identify the respective parties – lawyers, fund administrators, investors, etc.

1.11pm: Lunch time: F I N A L L Y. Grabbing a quick meal before it’s back to the grind!

1.58pm: Monitor Client B, D, F’s money laundering reporting functions for each fund (that’s around 4 funds!)

4.28pm: Time to prepare for the internal meeting with our Cayman office colleagues: updates on Client A, B, C, E; update of regulatory processes for the incoming VCC framework implementation in Singapore. Super productive meeting ended that ended in 30 mins – nice!

5.11pm: Mental note: prepare the compliance report for Client D and wrap up yesterday’s report for Client G.

5.12pm: Coffee first before that report though – flat white on-the-go!

6.27pm: Finally done with the compliance reports! Now I’ve got to sit in a call with Client G seated in New York and present the report to the Board of Directors…Wish me luck in the next 3 mins!

7.26pm: Time to identify what to revise for the next fund’s risk assessments and their response plans. Also, I’ll need to revise response plans for Client G’s existing funds and get all the potential implications queries answered. Let’s prepare these points for tomorrow’s email…

8.17pm: Phew – that is a wrap for today!

About the Author

Why There’s Nothing on The Other Side of Fear - Funds Partnership Asia

wow@shazamme.com (Default Author) — Mon, 06 Jan 2020 16:16:37 GMT

Thinking about kickstarting your 2020 by walking a path less travelled? Not sure how to go from the typical corporate track to managing a lean team? Hear first-hand from Omar Taheri , Founder & CEO of Spark Plus Pte Ltd on how he pivoted from stable financial institutions to striking out on his own. Discover how he overcame his fears, tips for thriving, and what keeps him going in this unconventional route!

Share with us your career trajectory in a nutshell.

I have been living in Singapore for the past 8 years and have been with various financial institutions such as Bloomberg, Eurekahedge, Swiss-Asia. Now, I have my very own venture: Spark Plus. Spark Plus specialises in non-deal roadshows for listed companies, providing them access to thousands of investors in the Asia-Pacific region. This includes hedge funds, family offices, mutual funds, private banks, and high net-worth investors.

Over time, I realised I was quite a decent networker and wanted to put my interpersonal skills to use. Back then, as Head of Business Development at Swiss-Asia Financial Services, I had the opportunity to grow its hedge fund platform business and incubate start-up hedge funds in the region. That’s when I saw the possibility of combining what I love doing most and where my talents were at. Previously, I set up a hedge fund networking event (that still remains!), and now get to leverage on my past experience to provide that connectivity with Spark Plus

2. Share with us a time when you were afraid on the job?

I can still remember the moment vividly! This was during the initial period of striking out on my own. Imagine starting out on your own venture and considering the opportunity costs of leaving a great firm like Swiss-Asia. It was definitely a time of expanding out of my comfort zone and plunging into something that I was passionate about.

However, I always remember a quote from the book “Tools of Titans” by Jamie Foxx that goes:

“What’s on the other side of fear? Nothing.” (Ferriss and Schwarzenegger, 2017, p.606)

This one-liner stuck with me and really made me take a different view of life. It has made me more confident as an individual and as a business owner. Because truthfully, what is the worst that could happen?

3. Considering all the people you have met in your field, what personal attributes are essential for success in your opinion?

Having an open mind. There are many definitions of this, but to me, it means hearing people out and listening to them. Everyone is at a different phase in their lives and hence, their priorities could be very different from one to another – so don’t be too quick to judge but take time to hear them out, to the deeper motivations that drive those opinions! There’s so much we can learn from someone else, regardless of their background, experience or where they are at.
Never put people down. I guess there are both commercial and personal consequences that one has to bear if this is done. This is especially so in such a tight industry – everyone is associated with someone and word will travel. On a more personal basis, it might destroy someone’s self-belief and that could result in limiting the individual’s potential solely because of a negative remark. Lifting people up has far greater benefits than putting others down!

4. Who were your biggest supporters when you made the switch?

Shout out to my best friend, Kadir Satar from Lombard Odier, for giving me the confidence and assurance that I will be successful in what I do! It was definitely a confidence booster when he mentioned that it was ME that he believed in, not just the business, and that business models can always adapt to the times.

One more thing that kept me on track was also from ‘Tools of Titans’, where it talks about high performers in the world having a common denominator: backing themselves up in their ideas even when the world turns its back on them.

I guess the above two are emotional and intellectual support pillars to keep me going.

5. Can you share with us what’s the best part of your current position?

From the business’s point of view, I am very blessed to have the freedom or what I call a blank canvas to paint Spark Plus in the direction I want it to be. That’s also getting to build a great company culture with an awesome team. Over the last few years, I’m very lucky to have experienced steady growth throughout all aspects of the business.

Personally, it has encouraged me strongly to become someone who is less afraid to take the plunge. Starting my own business has helped me to develop further and positively unlock many of my limitations, whether it is trying a new sport or to pick up a new hobby. I couldn’t be happier for these spill-over effects!

6. Finally, any advice you would give to professionals who are looking to make the move from employee to entrepreneur?

Go with the choices that scare you the most because it can also teach you the most. You will be surprised when you set foot on a path you thought you would never take – the rewards are truly endless! By going with that decision, you will grow rapidly and learn more about yourself as an individual!

If you are interested to make a mid-career switch or pursue a career in funds management, do send your queries to ayyaz@fundspartnership.com and we will be in touch shortly!

FundFAQ! for Institutional Sales

Mon, 16 Dec 2019 16:23:06 GMT

FundFAQ began with the interest in giving back to our candidate community – its priority is to share information with individuals whom are in their specific industries (e.g Hedge Fund Accounting, Private Equity Fund Accounting, Corporate Secretarial, etc) and aims to give bite-size infographics for many whom ready on-the-go. With this individually-driven market feedback that has been gathered at Funds Partnership Asia, we also want to keep the ecosystem transparent and share it with hiring firms, keeping them abreast to the market’s responses.

We have interviewed 18 candidates (Singapore and Hong Kong) we have recently spoken to after attending an interview regarding institutional sales career opportunities. FundFAQ narrows down the key questions to look out for, what other progression routes can candidates also venture into and most importantly, how did they feel after attending the interview.

Institutional Sales

Top Traits Employers look out for:

Global perspective and insights demonstration
Displaying a tailor-made service to the investment process
Proactive and responsive investment advice inputs

Get the full infographic here: FUNDFAQ: Institutional Sales

If you are keen to speak to a specialist that does executive search for Institutional Sales professionals in Asia Pacific, please reach out to our respective consultants:

Singapore Investment Circle 2019

wow@shazamme.com (Default Author) — Tue, 10 Dec 2019 16:28:02 GMT

Funds Partnership Asia hosted its annual event at The Private Kitchen in Raffles Place on December 4, 2019. The annual party was very well attended by many of Funds Partnership’s business partners and clients over the years.

Funds Partnership Asia would like to thank our sponsors Singapore Fund Administrators Association , KPMG and IHS Markit and all the party attendees for their continued support. We are looking forward to hosting our guests again in 2020. Please find the images of the event here .

For more information, please contact:

Ayyaz Ahmad

Funds Partnership Asia Pte Ltd
Director
Tel: +65 6635 7611
Email: ayyaz@fundspartnership.com

To contact the event organiser, please contact:

Daphne Tan

Funds Partnership Asia Pte Ltd
APAC Research Manager
Tel: +65 6635 5917
Email: daphne@fundspartnership.com

Stage 5: Working It Through of The Break-Up Series

wow@shazamme.com (Default Author) — Tue, 19 Nov 2019 17:02:15 GMT

What a rollercoaster we’ve been on – from denial all the way to reflection!

The hardest part is over. When you’re done asking yourself common questions post-breakup, we bring you on the final lap to greener pastures. Whether you’re an employee hoping to move on without a bitter aftertaste or an employer hoping not to repeat the same mistakes, we show how working with recruiters can create more value in the future.

We find out in the fifth segment:

Working It Through

Who’s to blame – the employer or employee?

1. Salaries

Employees:

Your trusted recruiter would be in-the-know of the industry market benchmarks. While there will definitely be cases of firms with a larger budget expenditure (yay to above-average salary increments!) and firms with tighter constraints, it’s best to manage your expectations on your salary and clearly communicate this to your recruiter.

Employers:

Transparency is key. Working with your recruiters can be a much smoother process if the budget is confirmed when your recruiter qualifies the search with you. Recruiters generally understand and respect that budgets are in place, and would be able to work best around them. To make it a more fruitful and effective search, an employer should highlight what are the uncompromisable factors that you look out for in an individual and identify viable stretches. Certain specific skill-sets are highly sought-after in the market, and there are times when certain employers would be willing to pay a premium amount to attain such talent! Keeping your salaries competitive is very crucial, especially in a candidate lead market.

2. Under-appreciated work

Employees:

It is likely that with your previous employer, you would have already identified what form of appreciation would keep you motivated – whether it is a word of affirmation, increased autonomy, a larger capacity or career progression. Take note of these and share this with your recruiter.

Your recruiter would likely have an in-depth understanding of the firm’s culture that they are representing and hopefully this would help to reduce time wastage. Your recruiter would also be well-equipped on how to ask the correct questions during an interview with the employer.

Employers:

As line managers, we understand that there will definitely be days that are not smooth-sailing! It is all-too-often that recruiters hear complaints and woes from top management that it is increasingly difficult to retain good staff, especially during a crisis.

Make it a point to be proactive in communicating any upcoming projects to your recruiters. It is our job to help you to break the information into bite-sized, understandable and actionable portions to your future candidates. Managing expectations is especially crucial during the onboarding period. In addition, saying a few encouraging words to your teammates is a great gesture, and makes for creating an awesome work culture to make the new ones feel welcome. No one wants to feel alone in what they do, including you!

3. Mismatched Expectations

Employees:

Make sure to share your expectations with your trusted recruiter. This is essential so recruiters can keep in mind your career interests when looking for the right match. At Funds Partnership Asia, we are all about aligning the career goals of the candidate with the business needs of the hiring firm. Not sharing expectations potentially increases more opportunities for miscommunication to occur – which defeats the purpose of you looking to leave in the first place!

Employers:

What will this hire bring to the table? Is it a nice-to-have or must-have? Is there a project coming up soon? Is this a replacement hire? Does this role require a permanent headcount? While there are many perspectives to consider, engaging a recruiter that is a neutral party could assist your business to accomplish the end goal with the minimal cost incurred.

Recruiters are equipped with market knowledge on the current candidate pool’s behaviours, skillset(s) and technical level of understanding. Engaging a recruiter also sets the tone between you and the potential candidate during the interview phase and after onboarding the candidate!

4. Role Redundancy

Employees:

To debunk any myths, employers would never frown upon any staff that has been made redundant due to organisational restructuring and neither do recruiters! So no shame – do not hesitate to even share with your recruiter that your role has been made redundant due to mergers, company shut-downs, outsourcing, etc. Specialist recruiters are always aware of market changes and potential employers that might be looking to hire, so feel free to even inquire if they can help transfer your skill-set into a new role or even take a broader scope of work if necessary so that you can resume your career journey.

Employers:

It’s a new level of stress to know that the business is heading south and it’s of no consolation that you would need to let go of your employees who have slogged through the days with you. Fun fact: your recruiters have an under-appreciated value that is rarely leveraged on – networks. Speak confidentially and leverage on your trusted recruiter to figure out a solution to save the business. Trust is very much key here hence, be sure to know who you are reaching out to when speaking about such matters. To find out more about Funds Partnership Asia’s expert introduction service, please reach out to Ayyaz Ahmad and Robert Hayward .

5. Lack of Business Processes and Systems

Employees:

As every firm utilises a proprietary technical system/ database for solutions they provide, the best way to leverage on your recruiter is to enquire on the specific software that you are looking to learn. Typically, your recruiters would know the technical systems and software which then aids in your job search.

Employers:

Partnering with recruiters to give you an objective assessment of the candidates is a plus when you are looking for an additional member. By sharing with your recruitment partner the dynamics of your team, your recruiter is then better able to find a candidate who not only is technically capable but also possess the ability to sail through the good and rough times together with the team.

Stay tuned to Part 6: Acceptance in the next part of our series!

All in A Day’s Work : Fund Services Business Development Executive

Tue, 12 Nov 2019 17:11:26 GMT

Does being a business development professional in the funds industry mean all cold calls and client meetings? How much desk work is required? Do they even have a social life?

Find out why teamwork and administrative duties are equally important in the long-run of lead generation and relationship management with clients!

We break it down for you in our fourth edition of #AIADW.

Note: This is based on a typical day of a Funds Services Business Development Senior Officer in a leading financial institutional firm.

8.00am: Good morning Monday! But first, coffee.

8.25am: Let’s catch up on yesterday’s administrative work and clear those emails.

9.30am: Time for a quick discussion with Head of Department regarding sales pipeline.

10.30am: Meeting’s over! Let’s get building this week’s pipeline by reaching out to potential clients by calling up existing referrals, followed by those in our networks.

11.52am: New Client A rings in to negotiate terms of business. Hmm… will need to get it sorted and respond by tomorrow.

1.03pm: Heading out for the monthly lunch with our colleagues from the Private Equity Fund Accounting team. Great insights on structuring the funds and how to work together for Client A. #teamwork. Better grab a quick pick-me-up coffee on the way back too!

2.15pm: Back in the office to clear client queries and prepare materials for Client B and C who are coming by at 2.30pm and 3.30pm.

4.17pm: Finally done with all external meetings! Let’s prepare the presentation materials on the services of our firm for new client D for next Wednesday.

4.49pm: Phew, that’s done. It’s brainstorming time for new campaigns with the marketing team regarding the new service line we’re rolling out in 3 months. Time to switch on my right brain for those creative juices!

5.20pm: Still stuck in the meeting, but we’ve got some good progress. Meanwhile just received good news that Client B signed terms with us!

5.36pm: We are done and got a solid lead generation plan for the 6 months (finally)! Time to notify and discuss the onboarding of Client B with the designated fund admin team that will be handling the account.

6.14pm: All done with the onboarding prep! Time to wrap up the day with administrative matters and follow-up from calls from earlier this morning.

7.26pm: Finally done! Time for a well-deserved dinner.

About the Author

FundFAQ! for C-Suite Opportunities

Tue, 22 Oct 2019 17:15:47 GMT

We have interviewed 46 candidates (Singapore and Hong Kong) we have recently spoken to after attending an interview regarding corporate secretarial career opportunities. FundFAQ narrows down the key questions to look out for, what other progression routes can candidates also venture into and most importantly, how did they feel after attending the interview.

C-Suite Opportunities

Stage 4: Reflection of The Break-Up Series

wow@shazamme.com (Default Author) — Tue, 15 Oct 2019 17:23:39 GMT

Reflection

As we progress through the different stages of emotions, each article (Shock & Disbelief, Denial & Guilt, Anger & Bargaining) analyses the pull-and-push between both employee and employer, as they struggle to reach a compromise, mutual understanding or at least empathy for their situation.

However, when either party decides to throw in the towel, then all heated conversation ceases and it transits into a new zone – the reflection zone. Whether it’s employers experiencing abrupt departures or employees pondering how to be tactful before they throw the letter, we cover questions commonly posed by both parties and what is the next course of action to address the elephant in the room.

Who’s to blame – the employer or employee?

1. Salaries

Employees:

“What would be a reasonable amount to ask for my next move?”

“What value can I bring to my next employer?”

Employers:

“Are our compensation structures competitive in the market?”

“Are there any other form of intangible benefits we can provide to existing and new employees to promote staff retention?”

Your next step:

Collectively, it’s always beneficial to speak to a trusted recruiter that is familiar with your field of work to give you an update on the market – behaviours and trends, salary bands, movements, etc. As the market evolves and gets increasingly competitive, average salaries are bound to climb higher, as skilled candidates in the search for a better compensation package seek out willing firms to accommodate.

Beyond the dollars and cents, intangible benefits (e.g firms offering various formulas to achieve work-life-balance, fantastic insurance coverage, flexible hours, Friday chill o’clock, etc) are enticing benefits to attract new blood. In particular, millennials are increasingly prioritising growth, impact and autonomy over just a stable paycheck – and will gravitate towards firms that empower them in the same ideals.

2. Under-appreciated work

Employees:

“How would I like my next employer to appreciate my work?”

“How do I appreciate my next employer?”

Employers:

“Why do my employees feel under-appreciated?”

“How can I appreciate my employees better so that I can retain them?”

Your next step:

Just like the different love languages, not everyone “receives” or “gives” in the same way, and hence, trust takes time! Many times, it may be neither party’s fault but the lack of understanding towards each other’s communication methods. There’s a multitude of factors that go beyond human resource protocols and metrics: the employee’s perception of the message, the method of relaying the message by the employer, the varying personalities and ways of processing etc.

Similar to how every business has a targeted group of clients, likewise, it’s just a matter of finding the right group of employees and employers to gather to bring the business forward – as one unit even with the great diversity.

3. Under-appreciated work

Employees:

“How would I like my next employer to appreciate my work?”

“How do I appreciate my next employer?”

Employers:

“Why do my employees feel under-appreciated?”

“How can I appreciate my employees better so that I can retain them?”

Your next step:

4. Mismatched Expectations

Employees:

“How can I ensure that the next role is aligned to my career interests?”

“How do I communicate my career expectations properly?

“How can I qualify for the job during my interview with the employer? What sort of questions should I ask?

Employers:

“How do I communicate the business’s/ role expectations properly?”

“What profiles other than what I initially thought would be a good fit, can fit and operate this role?”

Your next step:

Communication is king! It might be a bit late to salvage things with your existing employer/employee, but it’s a critical point to take note for the next person. Setting the right expectations at the beginning is akin to a solid foundation that every house needs before anything can be built. Assumption can destroy potentially great working relationships, and make even the most motivated employee disillusioned after a while.

As for employees, even if employers do not ask you about your expectations, make it a point to proactively find opportunities to make the first move – it may be awkward but it will save you a lot of heartache in the future!

5. Role Redundancy

Employees:

“Who do I speak to regarding my next career move?”

Employers:

“Who can I speak to now that my business is winding up?”

Your next step:

Your trusted recruiter (whether as a candidate or as a client) should be your go-to person to understand the existing situation on hand. For candidates that have been made redundant, get in touch with our industry specialists in Funds Partnership Asia for exclusive opportunities across the various jurisdictions.

Whether you’re looking to inject new funds into your business or in need of a business introduction, we recommend speaking to Ayyaz Ahmad and Robert Hayward for expert introductions as part of Funds Partnership’s expert introduction service.

Stay tuned to Part 5: Working Through It in the next part of our series!

All in A Day’s Work : Equity Middle Office Senior Associate

Wed, 09 Oct 2019 17:27:57 GMT

So what’s a day-in-the-life in the Middle Office? How is it like supporting 15-20 traders and consolidating cash statuses? Is it all mundane admin duties and desk-work?

Maybe you’re choosing between switching to front office or sticking it out in the middle office – here’s your opportunity to step into their shoes and discover how a typical day-at-work looks like!

In our third edition of #AIADW, we present to you our findings based on first-hand insights from our hundreds of candidates across industries!

This is based on a typical day of a Equity Middle Office Senior Associate in a leading Asset Management Firm, supporting up to 15-20 traders.

7.45am: Step into office, coffee-in-hand.

8.00am: Catch up on emails with the following in mind: “Are there any cashflows from the evening before? Any confirmation of the trades that needs to be cleared first? Any subscriptions to handle?”.

9.30am: Check on today’s cash positions, specifically the cash status for Trader No. 2, 4, 7, 12, 15.

10.00am: Trading activities begin!

12.15am: Meet with the team for a quick wrap up on the morning’s happenings while preparing for the afternoon’s activities.

12.00pm: LUNCH TIME!

1.45pm: Update earnings estimates and reports (run quarterly results summary, expectations vs. performance, update forecasts, etc).

2.15pm: Consolidate FX statements to send to billing team and/or finishing up FX executions.

3.00pm: Look into the cash management of trades for projects under Trader No. 3, 9 and 11. Consolidate the data into presentation materials for client meetings later in the day.

3.50pm: Circle back to projects with Trader No. 6 and 13 (restructured funds). Check on cash and financial status of trades. Wrap up recent subscriptions due today.

4.30pm: Final round of checks done. Advise on financial positions for any trades.

5.30pm: We’re done for the day! Time for a quick trip to the gym before dinner.

About the Author

Worth the Risk: Becoming an Asset to Fund Managers

wow@shazamme.com (Default Author) — Wed, 02 Oct 2019 17:33:47 GMT

Want to do something a little more disruptive in the funds space? With so many large global firms dominating the industry, how does one compete as a newcomer? What are the ingredients for success in this highly cut-throat environment with constant regulatory changes?

In this exclusive interview, we glean insights from Martin O’Regan on how he took the plunge and decided to venture out on his own when starting Solas Fiduciary Services.

Share with us your career trajectory in a nutshell.

I began my career as an accountant in audit and tax in Ireland. Since then, I have held a number of senior positions in the financial services industry across multiple global offices – such as UBS Fund Services in the Cayman Islands and Hong Kong, Apex Fund Services in Dubai, and Citi Fund Services in Bermuda.

In addition, I also headed Deutsche Bank’s Alternative Funds Services business and expanded Intertrust Singapore’s directorship services in Asia collectively. Through this, I have built extensive experience providing audit, fiduciary, fund administration and banking services to alternative investment vehicles.

During my time as a service provider to the fund business, I realised the need for truly independent directorship services, and as a result, Solas Fiduciary Services was set up with that very purpose. I have been working as a full-time independent non-executive director for over six years now.

Today we have a team of four Directors in Singapore and one Director in Hong Kong, with Mandarin-speaking coverage and a global network.

In addition, I’m especially passionate about giving back to the fund industry ecosystem and also serve as Chairman in the Singapore Fund Administrators Association (SFAA), where we share knowledge and best practices with our members and the larger funds community. One needs to give back to the industry that has provided them with so many opportunities.

Share with us how have your experiences throughout your career encouraged you to set up Solas Fiduciary Services?

Since my banking days, I have been dealing with clients and have had countless conversations with global business leaders and how they are looking for new innovative ways to structure their vehicles or expand to new markets.

I remembered a few years back where most fund services firms were outsourcing certain functions, cost-cutting was becoming the new norm, our product was diminishing and clients were suffering, so that got me thinking – “How do I continue to be part of this industry with the experience I have already got, still be relevant and add value for clients?”

My professional motto has always been to stay client-focused and to constantly keep developing relationships and delivering good products to my clients. When you prioritise client relationship management, clients will always remember you for being that resourceful individual and in turn, you become their go-to person for their concerns and solutions. My passion for client relationship-building, coupled with my consulting skillset in addressing their present-day and future issues gave me the motivation to set-up Solas Fiduciary Services.

What were some of the difficulties you have encountered when taking the leap to start your own business?

You will be surrounded by questions such as: “Can I really do this? Is this plan feasible? Can my clients benefit from what I am about to do?” Am I solving tomorrow’s problems and how can I make sure we are set up for the next five years as the industry evolves?”. These concerns would easily intimidate anyone before plunging into a new business!

Nonetheless, through continual market research and a strong community of supporters, I somehow found the encouragement to plough through. Making it through the first five years of any business is never easy, but what fuels me along is the ability to be a resource to my clients, to make a tangible difference, one-day-at-a-time, especially in the alternative funds industry.

Can you share with us some of your biggest supporters?

I was very blessed to have so much support when I launched Solas Fiduciary in May 2016. Family definitely topped the list. Beyond that, friends, ex-colleagues and contacts in the industry – and even my ex-employers – have also really encouraged me to take that step forward bravely. I think it’s so important to have a community of like-minded people who have that shared vision to constantly remind you why you are in this in the first place!

What were some of the trade-offs between starting your own firm versus being part of a mature, global firm?

Oh, if I can be honest – the first major one is not seeing the dollar figures in your bank account just miraculously appear each month! However, there are plenty of perks of starting your own business, which far outweighs being part of a mature, global firm. Here are two of the main ones:

Creating your own infrastructure within the organisation

There is the challenging but rewarding process of re-moulding structures from big, institutionalised firm into one’s own professional infrastructure. As someone who likes to invest in people, it is very satisfying to continuously build rapport with my team, take care of their welfare and career path, steer everyone according to the business’ directions.

2. Flexibility

Our industry is extremely fast-paced, and this autonomy gives me the ability to act quickly and make decisions more efficiently that attend to my clients’ needs. Having the luxury of non-bureaucracy keeps me as a business owner to set very clear goals, instead of having to accommodate conflicting internal concerns when delivering to our clients. One cannot always give an independent view to a client once you are representing a big firm.

Finally, any advice you would give to professionals whom are looking to make the move from employee to entrepreneur?

Vision. Commitment. 110% Effort.

Vision:

Stay focused on your vision when starting out. Remember the reason why you even decided to embark on this adventure – it is going to be the fuel that keeps you going even when the going gets tough.

Commitment:

Commitment is ploughing through the tough days of the first 3-5 financial years of the firm and it also means always being there for your clients, in the ups and downs. It means the resilience to be a resource for the client’s management team, to collectively come up with creative and forward-looking solutions to solve tomorrow’s problems. Many tend to forget that clients are running businesses too, and it is precisely because we are all in the same boat that we need to constantly adapt ourselves and our business models to suit the evolving and complex needs.

110% Effort:
Starting your business is no easy feat and that also means that putting in 100% of your effort sometimes may simply not be enough. There will be days when you hit roadblocks, encounter difficult situations and other days where you will question why everything seems to be going wrong. Those are the days where you need to put in that extra 10% of your all to get through that day’s finishing line.

A final tip on starting the journey on the right foot: be resourceful in all you do. Be honest, work hard and don’t look at the negatives, but the possibilities.

If you are interested to make a mid-career switch or pursue a career in funds management, do send your queries to ayyaz@fundspartnership.com and we will be in touch shortly!

FundFAQ! for Compliance

Tue, 24 Sep 2019 17:40:34 GMT

Overview

We have interviewed 27 candidates (Singapore and Hong Kong) we have recently spoken to after attending an interview regarding compliance career opportunities. FundFAQ narrows down the key questions to look out for, what other progression routes can candidates also venture into and most importantly, how did they feel after attending the interview.

Compliance

What employers look out for:

* order is not according to any form of priority

Stage 3: Anger & Bargaining of The Break-Up Series

wow@shazamme.com (Default Author) — Tue, 17 Sep 2019 17:47:19 GMT

Anger & Bargaining

Truth: It’s only natural for anyone to feel angry or upset when circumstances are going south. From our previous blog on Part 2: Denial and Guilt, the emotion and/ or reaction, anger and bargaining commonly follow after.

Anger [Definition]

: a strong feeling of displeasure and usually of antagonism

A negatively-associated emotion that may be directed inwardly or outwardly. These pent-up emotions over a period of time can cause the individual to erupt, having little to no control over circumstances. These emotions can be directed towards anyone.

Bargaining [Definition]

: Negotiate the terms and conditions of a transaction

An action of desperation where the individual tries to make a deal to regain what was lost. Many try their best to cling to what they have already lost even though they are well-aware that it will never come back.

Who’s to blame – the employer or employee?

1. Salaries (42%)

Anger or Bargain? – Anger

Who: Employees

It’s a controversial topic but employees do get angry or upset over the feeling that they are underpaid for the infinite workload that comes their way.

Just as the scenario is depicted in Part 2: Denial and Guilt, are you harbouring the feelings that you are not compensated for your worth? Get your research done before getting riled up by looking at websites that have conducted surveys on the average pay grade of a similar profile as yours or speak to a trusted recruiter to get first-hand knowledge on market trends. There’s not much room to bargain here for employees as there’s always a specific band that companies work around with each title, hence many decide to take the easier route out – leave their existing firm and negotiate for a higher salary elsewhere. However, if you have a good working relationship with your direct manager and genuinely enjoy your work – don’t rule out accepting a counter-proposal!

2. Mismatched Expectations (5%)

Anger or Bargain? – Bargain

Who: Employers

Mismatched expectations between employers and employees will eventually lead one to cave in – throwing in resignation letters (usually by employees).

This is not helpfu l if the organisation is beginning or in the midst of one of their biggest projects or there’s an overwhelming level of work that the employer already has to juggle on top of this resignation exercise. Employers may begin to get frantic over the lack of manpower to tackle the infinite workload and may even begin to bargain on tough (sometimes impossible) grounds such as “Can you stay till we find someone to replace you?”, “Can you stay till we complete this project?” or “Why are you unhappy with your current role? Maybe I counter offer you with a more attractive compensation package?”. Typically, bargaining is the first reaction for employers before getting angry at employees for leaving them in the lurch during a stressful period.

3. Under-appreciated work (22%)

Anger or Bargain? – Anger

Who: Employees

Feeling constantly under-appreciated negatively-affects motivations and dampens morale levels – while it also proves to be a hefty invisible cost to the company when good employees leave.

Before throwing in the towel, there’s always an accumulation of events prior to talented employees detonating in anger – such as seeing other colleagues get credit for the work they have done, or taking on more responsibilities without a pay raise, etc. From here on, trust and loyalty slowly dissipate and jaded employees begin to explore alternatives and entertain offers that are more appreciative of their efforts and aligned with their interests.

4. Role Redundancy (18%)

Anger or Bargain? – Bargain

Who: Employees

Spiralling further down the denial lane, the reaction of bargaining surfaces from employees who have already been imposing self-guilt on themselves since hearing the news, “Can I keep my role for a lesser pay?” or “Can I clock in more hours instead?” are common train of desperate thoughts that goes through employees’ minds.

After a couple of unsuccessful attempts of trying to bargain for their livelihood, some may feel anger for a temporary period of time until they find a new place to begin their careers again.

5. Lack of Business Processes and Systems (7%)

Anger or Bargain? – Bargain

Who: Employers

This reaction of bargaining often occurs when employees and employers are unable to meet eye to eye on certain workflows and processes which constantly affect their productivity.

Similar to Part 2: Denial and Guilt, some may have the perspective of “if it’s not broken, why fix it?” while others may perceive it as “we need to be prepared for the next step.” Anger is not present during such scenarios, however, the pent-up frustration harboured in each individual does create friction amongst individuals and sours relationships.

6. Others (6%)

Stay tuned to Part 4: Reflection in the next part of our series!

All in A Day’s Work : Private Equity Fund Accountant

Tue, 10 Sep 2019 04:56:29 GMT

So what’s a day-in-the-life of a fund accountant? Is it all excel sheets and balancing accounts? How much time is spent at your desk preparing quarterly accounts for 30, 45, 60, 180 day cycles? To what extent is juggling multiple calls and complex transactions with clients a main thing? Is there even time for lunch or dinner? What time can I actually hit the sack?

If you aspire to be a Fund Accountant in Private Equity, here’s your opportunity to step into their shoes and discover how a typical day-at-work pans out for them!

In none other than our second edition of #AIADW, we present to you our findings based on first-hand insights from our hundreds of candidates across industries!

This is based on a typical day of a Private Equity Fund Accountant (with at least 3 years of experience) in a large, international fund administrator, during quarter or year-end reporting period.

8.30am: Breakfast in the office with a couple of teammates.

9.00am: Starting off the day either with morning weekly team meetings or catching up with overnight emails from clients

10.00am: Done with internal meetings/ administrative work! Time to prioritise the 30, 45, 60 or 180 day client accounts.

10.30am: Morning call with Client A, gathering of information, analysing and preparing of the accounts

11.30am: Call with Client A’s portfolio clients, gathering of information and analysing the transactions. Clarification of any outstanding issues, any complex transactions that needs to be highlighted, clarification of the data accuracy input by clients, etc

11.45am: Urgent call by Client B, discrepancies found on the previous submission.

12.00pm: LUNCH TIME!

1.15pm: Update quarterly accounts for Client C for 30 days reporting.

2.30pm: Quick call with Client B, clarification of the outstanding issue if it is resolved.

2.50pm: Continuing with the preparation of accounts for Client C.

3.45pm: Quick walk to the pantry, get some rest for our eyes.

4.00pm: Back to the grind, let’s continue preparing the accounts for Client C.

6.00pm: Emails still going out..Currently preparing the accounts for Client D’s 45 days reporting, identifying any complex transactions and any capital calls needed?

8.15pm: Dinner break!

9.00pm: Found out a discrepancy for Client A’s account while consolidating, revisiting earlier discussion with Client A and it’s portfolio clients.

11.00pm: Let’s knock off for the day.

About the Author

FundFAQ! for Private Trusts (Fiduciary Services)

Tue, 20 Aug 2019 05:17:40 GMT

Overview

We have interviewed 38 candidates (Singapore and Hong Kong) we have recently spoken to after attending an interview regarding private trust career opportunities. FundFAQ narrows down the key questions to look out for, what other progression routes can candidates also venture into and most importantly, how did they feel after attending the interview.

Private Trusts

Vertical Career Development for Trust Officers:

Trust Administrator (1 – 4 years)
Senior Trust Administrator (3 – 5 years)
Assistant Manager (4 – 7 years)
Manager (5 – 8 years, with people management experience)
Senior Manager (7 – 9 years, with people management experience)
Associate Director (9 – 12 years, with people management experience)
Director / Head of Department (above 12 years, with people management experience)

Get the full infographic here: FUNDFAQ: Private Trust

If you are keen to speak to a specialist that does executive search for the Private Trust industry in Singapore and Hong Kong, please reach out to our respective consultants:

Stage 2: Denial and Guilt of The Break-Up Series

wow@shazamme.com (Default Author) — Thu, 15 Aug 2019 05:35:57 GMT

Denial & Guilt

Who’s to blame – the employer or employee?

1. Role Redundancy (48%)

Denial Factor: 4/5

Truth: “They must be mistaken and I am certain they will call me to come to work tomorrow.”

Job loss is hard to swallow and is a real struggle for anyone who had experienced such. What’s worse is when it’s a restructuring issue and nothing to do with your performance. To survive through this turmoil, it takes strong willpower for any individual to move towards a positive direction but for the majority, self-induced guilt takes over and they begin pondering on countless what-ifs that possibly could have changed circumstances.

Furthermore, role redundancy does not just impact those who are leaving but also those who still stay within the organisation. Survivor’s guilt is prominent when colleagues watch their trusted teammates leave the organisation they begin to wonder when is their turn to pack their bags.

How to overcome this:

Employers: Communication and empathy is necessary when you are delivering the news. Employees typically go into immediate denial, so take note and keep repeating in a clear and concise manner to let the news sink in. Are there any suitable alternative employment options? If you have had a pleasant working experience with this staff, put in a good word and recommend the individual to alternative departments or your network. The key to handling role redundancy is managing the psychological impact on those that have left and those that remain. Transparency for surviving employees is crucial and communicating the assurance whilst their roles are being transformed.

Employees: As difficult as it is, you have to get through it as soon as possible. The sooner you do so, the faster you will move on. Try to not take it personally as a genuine redundancy could mean that your function in the firm is no longer necessary. Update your CV and begin searching for positions that you are interested to give a shot in by including your accomplishments and existing skill set. A genuine redundancy places you in a strong position to tell a story about what happened without blaming anyone, without being rude about your ex-employer.

2. Lack of Business Processes & Systems (10%)

Denial Factor: 2/5

Truth: “All seems fine to me, everything is business as usual. Why change something that is not broken?”

The demands of the business will never remain stagnant. A process that may have worked previously may not be efficient when there’s an increase or decrease in business demands. Thus, the organisational structure is crucial for any business. A strong organisational structure enables the firm to measure and improve productivity levels and ultimately increase revenue generation. The lack of organisational structure is damaging to any business and would affect many areas – clients’ misperception of the business, a significant drop in employee morale, decrease in sales revenue and perhaps even a need to shut down operations.

How to overcome this:

Employers: Recognise, acknowledge and implement a constantly adaptive and systematic approach to the growing business operations is a crucial step. This ensures that employees have a common goal to work together with senior managers. A departmentalisation of duties is to promote collaboration among employees by leveraging on their skills to make processes efficient and effective – by asking an employee to bite more than he or she can chew would only result in a reduction of productivity levels. If an employee or your teammate decides to speak up about an inefficient process to accommodate the change in business demands, it’s time to give them your ears and hear them out.

Employees: If you are taking on more work on your plate and cannot seem to be able to cope with the volume, it’s time to speak up. Small firms do require people to be willing to take on a wider spectrum of work but that is (and must be) relative to the volume of work needed to be completed. Good employees typically feel guilty for speaking up on their inability to manage their work – either by staying late or perhaps even skipping a meal just to get the job done. It’s better to speak up than to affect your mental and physical health in the long run.

3. Salaries (4%)

Denial Factor: 3/5

Truth: “I feel like I am doing more work than xx employee but why am I getting paid less than xx employee?”

The above excuse is commonly heard – here are a couple of aspects to consider: when did the individual join the firm? Is the complainant on the same corporate rank as xx employee? What metrics were used to define who contributed more? Is the employee more of a team player or an individual contributor? Though there are many websites that share the average payscale of the specified job, it all boils down to the individual.

How to overcome this:

Employers: Speak to your HR department on how much the market pays for similar talent and are there any further intangible benefits that your firm can benefit the staff (e.g clocking off an hour earlier on certain days, employee appreciation days, medical or dental benefits or even a couple of extra days off). If you do have performance metrics to abide by and it does affect the employee’s salary, then be fair and refer to it!

Employees: Actually being underpaid versus harbouring the feeling that one is underpaid (denial) are two separate issues. If you are getting promotions without a salary raise compared to peers at the same corporate rank – you need to evaluate your career decision. However, if you identify with the latter group, consider having a confidential conversation with your employer on salary negotiation or work towards a common goal with expectations clearly defined to land you a salary raise.

4. Mismatched Expectations (14%)

Denial Factor: 3.5/5

Truth: “The scope is not like the job description but my employer pays well/ has great benefits, maybe I’ll just stay a little longer before moving to another firm.”

Do not believe such a myth! The above statement is neither beneficial to the individual or the firm. The mismatched skill set would not correspond with the employee’s existing title and both sides would have wasted time and effort without accomplishing either individual or firm’s interests

How to overcome this:

Employers: Make sure that new hires are clear of what is expected in the firm, how their role fits within the firm, and how it will impact the bottom line. In the event that the employee’s role has evolved, ensure that the title of the employee corresponds with the scope of work he/ she does. It’s crucial to know that employees are with the firm for the right reasons and with the right attitude.

Employees: By encouraging a mismatch of job expectations, individuals will also be discouraging proper on-the-job learning and cultivating irrelevant skill set(s) in correspondence to the job title. Even if the individual was paid well for doing a job, future employers may not see the same value that he/she may be able to contribute should the individual opt for a similar opportunity to his/her title.

5. Under-appreciated Work (9%)

Denial Factor: 3.5/5

Truth: “ I am certain that the firm appreciates me, I have been serving them for 10 years and counting, how can they not? ”

The question is: is your work often taken credit by someone else? Were your ideas not heard during meetings but if another person brings the same idea up he/she gets credit for it? When was the last time you saw a promotion or a salary raise? While it’s generous to not sweat the small stuff (it may even help you at work!) but ensure that it does not create a long-term resentment in you. Just like relationships, at times a party would be taken for granted by constantly overcompensating while the other party is constantly at the receiving end.

How to overcome this:

Employers: Effectively communicate with employees and practice fair employment practices. Losing talented employees is an expensive cost, find out what are the employees’ long-term goals and empower them to work towards that goal. Denying growth opportunities for any employee would do more damage than good to the firm, reflecting only stagnancy within the firm.

Employees: Ask for what you need. Think you deserve a promotion or a raise after bagging in a big client? Go get it. Think your ideas are not heard? Ask on the floor how you are able to make them more digestible for all! Effectively communicate with employers on long-term goals; an appreciative employer would try his/her best to introduce growth opportunities for the employee’s career. If your work is not appreciated, perhaps it’s time to look somewhere else and not feel guilty for it.

6. Others (15%)

Stay tuned to Part 3: Anger & Bargaining in the next part of our series!

All in A Day’s Work : Equity Research Analyst

Tue, 06 Aug 2019 05:39:57 GMT

Do equity research analysts constantly need to monitor market data? Is 75% of their time spent speaking to external clients to give investment advice? To what extent is research and financial reports a part of their daily routine?

If you aspire to be an equity research analyst, here’s your opportunity to step into their shoes and discover how a typical day-at-work pans out for them!

While there are some differences between a buy-side and a sell-side candidate, there are general similarities for both – they tend to focus on a niche industry. Based on that, they monitor market data and news reports closely, speak to relevant companies to update their research daily and deliver recommendations afterwards.

Note: This is based on a typical day of an Equity Research Analyst in a leading investment bank (sell-side) during non-earning season. Let’s begin their day!

7am: Step into the office, coffee-in-hand

7.15am: Catch up on emails, monitor overnight market developments, finish up undone reports, prepare for client meetings

8.30am: Morning call with traders and/or sales team

10am: Prep for next few client calls

10.20am: Call with Client A, B, C (catch up on industry trends and propose various stocks to invest in)

12pm: Meet with Client D (advise and pitch before going for IPO)

12.45pm: Catch up call with Client B

1pm: LUNCH TIME! (usually a quick one around the corner or take-away)

1.45pm: Update earnings estimates and reports (run quarterly results summary, expectations vs. performance, update forecasts, etc.)

2.30pm: Call with Client E (stock investment recommendation)

3pm: Continue on previous research, find new companies to initiate research on, update company models, industry spreadsheets, writing reports, etc.

4.30pm: Internal meetings (update company models, industry spreadsheets, and marketing packs)

7pm: Time for a well-deserved dinner, or to hit the gym (if you still have the energy!)

About the Author

More than Money-Suckers: Soaring above the Stigma as a Recruiter

wow@shazamme.com (Default Author) — Tue, 23 Jul 2019 05:56:27 GMT

What attributes do clients look out for the most? Why is it okay to “screw things up” and experience rejection continually? Are recruiters just merely sales-driven middlemen that are transactional? Find out what makes Lyn look forward to work everyday, what her definition of “work” is, and what makes one stand out as an all-star recruitment consultant!

1. Tell us more about yourself. Did you ever expect yourself to be a recruitment consultant?

I definitely did not expect myself to be a recruitment consultant! In fact, I can say that I’m probably the last person that one would consider cut out for this role as I am clearly not the ‘sales’ type of personality. Six years ago, I entered the recruitment industry doing recruitment telesales while taking part-time courses. My daily tasks basically consisted of flipping Yellow Pages and doing cold-calling, so it turned out to be very good training. Now the scope has changed.

2. Describe your typical work day as a consultant.

My typical work day actually starts from the night before, where I start planning and consolidating what to work on the next day. Usually, I would spend the first hour in the office, I am going through my task list for the day. I set aside a short amount of time to respond to those that need my urgent attention and also to clear any miscellaneous matters.

I would then spend the next few hours or so (the golden window – or what we call pour hour) on the phone to speak with both potential and existing candidates or clients. Just before lunchtime, I would spend some time to finish up some administrative and follow-up work such as responding to emails and messages.

After lunch, I would spend around a few hours on the phone again checking in on some clients, if there are no external appointments. Towards the last 1 – 2 hours of the day, I might attend some internal meetings (if any) or spend the time finishing up some administrative work, consolidate and reflect on the day’s events, or start planning for the next day.

3. Have you ever been fearful on the job?

Honestly, although recruitment can be intimidating, I don’t think it was as” scary” as I thought! After all, we are providing a service to both our candidates and our clients, which I think is very meaningful. However, at times, because we are not dealing with inanimate products, there will definitely be challenges as our “product” has feelings and strong feelings when it comes to their job placements. So, there are definitely unforeseen crisis situations which I find myself, mostly in expectation management, which sometimes makes me quite nervous to have to think on my feet or exercise empathy while still standing my ground. Other than that, I think the job is constantly dynamic and I’m privileged to learn something new every day!

4. Considering all the candidates you’ve met thus far, what personal attributes do you think clients look out for?

Assuming everything else being equal, having strong technical and domain knowledge would still be the main consideration for most clients. However, other attributes such as personality, character and soft skills are increasingly important, and can also make or break a candidate’s eligibility.

Some of those attributes are simply about how well-prepared they are for the job interview and how they present themselves. For example, clients can sense sincerity and how truthful they are to themselves, a level of confidence (but not to the extent of being boastful), good learning attitude, and most importantly – ability to use their common sense to respond to a variety of situations!

To elaborate, I often see candidates making the common mistake of thinking and acting like they know everything based on their limited experiences. On one hand, it is good to have that sense of confidence, but sometimes it is perfectly alright to admit if a question is out of their scope of understanding, and this will show the client that they are teachable and quick to learn and see things from a different angle.

The truth is, regardless of how many years of experience we have in the industry and life, we will never fully comprehend a situation. There will always be new and upcoming solutions to existing problems, and each has to be dealt with differently. As the old adage goes: “If all you have is a hammer, everything looks like a nail.”

5. Considering all the clients you’ve met thus far, what do you think draws a candidate to accepting an offered role?

Generally, the factors that draw a candidate into accepting an offered role would be the opportunity for him or her to broaden his/ her comfort zone, with an appropriate remuneration package. For example, there is an increasing emphasis on growth, learning, exposure, and being able to make a difference amongst millennials candidates.

That said, the factors are subjective, depending on the needs of each individual candidate and the season in life that they are in – such as mid-career switchers who may value better work-life balance or financial stability as compared to fresh graduates.

6. What’s the best part of your current position?

I don’t mean to sound arrogant in saying this, but honestly, the best part of my role is being able to be in control of who I want to work with!

It is empowering to have the liberty to decide which clients or candidates I want to work with. For example, if I see a company treating its employees as commodities, or if they have the perception that recruiters are just money-suckers without regard for the value-add that we bring, I choose not to work with those clients. Similarly, when I encounter a candidate who does not have the right attitude, mindset or character, I have the freedom to decline and instead choose to spend my efforts on others that have the potential.

I am grateful for that autonomy, flexibility and dynamism, which is not present in most other industries that are more rigid in their offerings and processes. Of course, I’m grateful to the dream team at FP Asia and Ayyaz for setting a culture that is so empowering as well!

My greatest satisfaction in my current position comes from helping those clients and candidates who truly appreciate my assistance and role as a recruiter and see me beyond a match-maker to a consultant.

7. What was the biggest challenge you faced when you were on the job? Are there any kind of unique challenges?

It is quite sad but the biggest challenge that I faced working as a recruitment consultant is the negative image others have towards this profession We are sometimes seen as just money-minded and sales-driven middlemen that don’t add value.

I can understand that stigma, based on the negative experiences that some of our candidates and clients have been through! Recruitment consultancy is a cut-throat industry and it may have earned its bad name by recruiters who are not professional and often undercut in order to close deals.

That said, at the end of the day, a recruitment consultant is ultimately doing a sales job. We would still have to take into consideration the company’s bottom line.

At FP Asia, I’m grateful that we emphasize on going beyond the transaction to greater value-creation through our ecosystem. The sigma is a reality that I have to deal with consistently – keeping the bottom-lines while also staying balanced as a professional.

Another reason is because the funds industry is quite niche, it is not uncommon that Company A and Company B are both our clients, and are trying to hire similar candidates. When scouting for talent, I have to make tough decisions and dilemmas in where to place them, and there is the challenge of not appearing biased to either party and to be completely impartial.

8. Is there time for life outside of work?

Yes, definitely.

It is really important to understand what we define as “work”. I don’t see work just as when we enter the office – I see work as part of living my life too, and it can be meaningful! Each of us is given 24 hours a day, and if we treat work as an exchange of time solely for money, then we are wasting our time because time is so precious – and it is something that money can never buy!

Therefore, work should be seen as an exchange of time for money and for accumulation of knowledge and experiences that we can build on top of every stage of our life.

I personally believe that we need to do something productive and meaningful every day to keep us moving. Why not treat work as an opportunity to keep learning, be exposed, and an opportunity to appreciate life?

Hence, for myself, there is no separation of time “inside” and “outside” work in my dictionary!

9. What advice would you give to someone who wishes to be a consultant?

If one wishes to be a consultant, one has to be prepared to do additional reading during free time (aka “time outside work”) to better understand the industry. That is on top of what you can learn on-the-ground and from mentors. I think this is crucial but an underrated activity – without a proper understanding of the industry and the various sectors, it is difficult to stand out and value-add to your candidates to secure the right opportunity.

In addition, be prepared to screw things up as well! When I first started in this industry, I made many mistakes. I guess that was how I got here in the first place because they were my stepping stones and the best teacher is through experience!

Other than embracing mistakes, one needs to have the right mindset to accept rejections, and to have the stamina to go through the roller coaster of the sales cycle – knowing that a deal can fall through anytime!

Finally, one needs to have the discipline to follow through, to have proper time management, and be able to stay focused!

Like all endeavours of life, the initial stages require extra effort, time and patience as there is definitely the inertia involved!

To those who wish to be a consultant, go for it! That is the best way to know for yourself if it is a career path for you!

From Legal to Business: How To Turn A Setback Into An Opportunity - Funds Partnership Asia

wow@shazamme.com (Default Author) — Wed, 17 Jul 2019 06:14:12 GMT

Looking for a strategic career switch? Are you at risk of being ‘re-structured’ out? In this exclusive interview, hear first-hand from Diana The, Director of Business Operations and Strategy at Aon on how she unexpected landed the role after 10+ years in legal practice. Find out how she leveraged a company restructuring to her advantage, how to be an influence beyond your job-scope, and why it’s so important to keep learning!

1. Could you share with us your career trajectory in a nutshell?

My legal career started out quite typically: going into private practice after getting called to the bar in the UK and then in Singapore. While I wanted to start my career stint in a corporate department within a law firm, unfortunately, at the time I came out into the workforce, it was right smack in the middle of the Asian Financial Crisis in 1997. Companies were prioritising recovering their debts, rather than establishing new operations. As such, I started out my legal career as a litigation lawyer and stuck with it for the next 5.5 years.

Subsequently, I moved to a mid-size law firm and made a switch to corporate and funds work for the next 5 years.

After working in private practice for 10.5 years, I landed my first in-house role as a general counsel with a Private Equity firm, Harmony Capital, back in 2007. It was one of the most memorable work experiences that I had, especially when it also involved going through a Global Financial Crisis in 2008. We had to conduct a very complicated restructuring exercise involving the funds that we were managing to avoid any panicked sell-off of our underlying investments which were still valuable. I was dealing with investor communications at the time, whilst working with external lawyers to restructure our funds.

In 2010, I was headhunted to be the Head of Legal and Company Secretary at Eastspring Investments (Singapore) Limited, the Asia asset management arm of Prudential PLC, where I was responsible for establishing the legal department during my 3.5 years at Eastspring. This further broadened my legal experience from alternative investments to traditional fund management as well.

From January 2014 onwards, I then joined Aon as Chief Counsel to cover the Asia-Pacific, Middle East & Africa regions. Together with my team of lawyers based in Sydney and Shanghai, I oversaw legal services in support of Aon’s Retirement Solutions across 12 countries in APAC. I also became part of the specialised legal team to support Aon Securities globally – their investment banking arm providing insurance clients with investment advisory services.

Finally, I did an interesting career switch earlier this year – pivoting from the legal side to Director of Business Operations and Strategy for Asia, a newly created role for their Retirement and Health Solutions.

2. Share with us a memorable time as a private practice lawyer before moving in-house!

There are so many memorable moments – both good and bad – built in my career as a private practitioner across the 10.5 years I’ve been there.

Perhaps some highlights include my time as a litigator when I found that I was in my element – there was, in fact, one year where I did not lose a single hearing! There is that sense of achievement and instant gratification the moment you step out of court knowing you have won a case!

In contrast, as a corporate lawyer in a law firm – working on IPOs and setting up of funds – feeling that one gets after completing a project is more a sense of relief! That’s because it is more of a marathon – you would have spent a long time and much energy on a project, going through each nitty-gritty detail to ensure it is completed without any incident.

However, as a result of spending long hours with my clients (especially the board and management), and investment bankers, there are some real friendships forged! Despite having left private practice in 2007, I am still in touch with most of those contacts that I had established, and we meet up occasionally for a meal or a drink.

3. How has moving in-house changed your perspective on your role as a Legal Counsel? (e.g any myths debunked?)

I think a big myth that needs to be debunked is that the working hours are more manageable.

It really depends on the working environment that you are in and the kind of projects that you are working on as an in-house lawyer.

I have worked on cross-border projects which required me to stay up late on conference calls and to turn legal documentation around at very short notice. Your time can be dictated by the strategic nature of the projects that you are working on. Whilst one might think that an in-house lawyer gets the “benefit” of being covered by external lawyers, they will only be highlighting to you the pros and cons relating to various risks while the ultimate decision lies with you as the in-house lawyer.

To be an effective in-house lawyer, you should be proactive in recommending to your internal stakeholders the course of direction to take, having balanced the risks against the commercial merits upon a thorough analysis of the interests of the organisation that you work with. There is no point simply parroting what your external legal advisers have set out in a legal opinion to you.

4. What advice would you give to someone who is aspiring to move from private practice to in-house?

Previously, I was disappointed that I could not land a role in the corporate department within a law firm and instead having to start my legal career as a litigation lawyer. However, on hindsight, I believe my litigation experience gave me the necessary skills to deal with any sort of crisis and risks which was needed in my in-house roles. If you have never worked for a few years in private practice, going straight to an in-house role could be rather daunting, as you would not have the experience to handle and deal with a variety of business scenarios.

Of course, if you are lucky to be part of a large in-house legal team with other experienced seniors to guide you, that would be a great starting point.

Nonetheless, in the first two in-house roles that I landed in, I count myself fortunate to have been the first lawyer that the organisation has hired to help establish their legal and compliance functions – it was indeed invaluable experience!

I believe that as an in-house lawyer, especially one in a senior position, it is no longer sufficient to operate in your own silo, hiding in a corner poring through legal documents or just simply being “the lawyer” of the company. With your wealth of working experience, you have so much to contribute to the organisation, such as being a mentor to your younger colleagues, being visible beyond into your network, and to promote what you personally value most in terms of principles and beliefs.

5. How did you make the switch from Deputy Global Counsel to now the Director of Business Operations and Strategy in Aon?

How I made the switch actually came about from an unexpected turn of events within the legal department in Asia, when a decision was made to consolidate the legal department into a shared service model. As such, my role as Chief Counsel was effectively made redundant.

While it appeared to be a setback, I took it as a welcome change, as during my 5 years as Chief Counsel, I had always been looking for opportunities to take on fresh challenges and learn new areas of business. From my vantage point as Chief Counsel, I could already see many potential synergies between the businesses that Aon covered. As a result, even before my switch, I had already started acting as the connector and business enabler whilst simultaneously managing legal risks across the different lines of business for Asia.

I believe it was my ability to network and connect which led to the Global CEOs and APAC colleagues to recognise and support my shift to a more strategic role within the business.

As such, within 10 days of my role as Chief Counsel being made redundant, I was confirmed and appointed into my current role as Director of Business Operations and Strategy for Asia to supporting two solution lines for Aon.

6. Finally, any advice you give to professionals whom are looking to make a career switch?

Based on my personal experience, it was about having the right perspective and treating every closed door as a strategic re-direction! I converted what one would regard as an unlucky turn of events (the role redundancy) into an opportunity to make that career switch, which I would never have dreamt of in my 20 over years of legal career!

Due to the fast-changing nature of the economy, you need to be adaptable and willing to take risks to make that switch.

It is so vital to keep learning and not stay stagnant! For professionals, in particular the lawyers, if you think you can continue doing what you do for the rest of your legal career, you will be taken over by digital technology in this rapidly-evolving world. If you think you can spew out legal principles at your business colleagues without tailoring the legal advice to suit the organisation’s business needs, you are certainly not adding any value!

What you really should view your role as is to be a trusted business partner, not merely a support function to the business.

While it has been a great honour to be listed twice by Legal 500 as being one of the top general counsels in South East Asia, I believe it is an even greater achievement to be recognised by top business leaders and to have played a strategic role in an established global organisation! While I am happy to have been recognised for my professional capacity, being able to impact others beyond it has been very fulfilling.

This is not to say that you completely throw away the knowledge and experience that you have gained in your current profession. Such knowledge will remain your core strength, but it should not be a limitation – instead, it should be your differentiating factor, even as you move into a new capacity.

If you are interested to make a mid-career switch or pursue a career in funds management, do send your queries to ayyaz@fundspartnership.com and we will be in touch shortly!

Stage 1: Shock and Disbelief of The Break-Up Series

wow@shazamme.com (Default Author) — Tue, 16 Jul 2019 06:07:10 GMT

Shock & Disbelief

Who’s to blame – the employer or employee?

Role Redundancy (8%)

Shock Factor: 4/5

Truth: The economic situation is unpredictable and anyone will be taken aback when a role is made redundant. Employers have to muster up the courage to tell their employees that business is heading south and there’s a need to cut costs; employees on the receiving end worry about their rice bowl.

How to overcome this:

Employers: Downsizing is an inevitable process during an economic downturn, much less if a company have to discontinue its business. In events of downsizing, interim or contractual employments could be an alternative for many firms who are looking to keep headcounts low or even pay by the hour.

Employees: Today many firms are looking for dynamic individuals who are flexible in their work scope. Overcome this by assuming certain roles that will keep your skills relevant.

Lack of Business Processes & Systems (12%)

Shock Factor: 2.5/5

Truth: Today many tapped on their entrepreneurial side and attempt to be their own bosses. Setting up a firm is never easy and requires patience and dedicated operations skill set to ensure that processes and structures are in place. Resources are precious in any firm and typically smaller firms have a smaller share in comparison to bigger firms.

How to overcome this:

Employers: Patience and hiring the people with the right attitude are the keys to overcoming this. A small firm would require the right people to roll their sleeves up and just get the job done.

Employees: Decide first if you’re willing to have the above two attributes. A smaller set-up would give you the opportunity to explore other functions of the business and tap on your problem-solving skills that many firms appreciate.

Salaries (42%)

Shock Factor: 3.5/5

Truth: Employees are always curious about market trends and salary benchmarks. It is not uncommon for many to ask around their peers (most likely from other firms) on their current drawn. It will come as a surprise(!) if there’s a significant difference when they find out that their peers are paid more (or less) than their current drawn. Likewise for employers, the salary guides released by many recruitment firms are a rough gauge for them to stay competitive in their respective markets.

How to overcome this:

Employers: We understand that there are budgets to work around. While it seems like a vicious game of musical chairs, employees cannot help to get paid for the same job in a different environment. Lately, firms conduct “stay interviews” to catch up on their employees’ well-being and thoughts, this can assist in hearing employees out on the challenges faced and how technology can be used to enhance their experience in your firm.

Employees: It’s important to prioritise your needs and wants at every stage in your career. With each title band, organisations have to work with a specific salary range. Speak to your direct supervisor if there are other flexible options that your employer can do for you – work from home arrangements, flexibility on other working arrangements, etc. A great pay can only get you so far, sometimes it’s understanding your work-life needs that could be a long-term solution.

Mismatched Expectations (9%)

Shock Factor: 2/5

Truth: Expectations of the job are typically communicated during interviews and a common assumption is that both parties understand the scope of work (even with the job description)! Job descriptions act as a guide for the individual’s contribution to the firm and depends on the size of the firm and the segregations of their operations! A smaller firm would require individuals to be more flexible and larger organisations would require strong familiarity in the scope of work.

How to overcome this:

Employers: Typically, job descriptions are crucial for candidates because they usually want to know the extent of their jobs and what they are able to achieve with your firm. During your interview discussions, speak to them about how they feel about assuming a wider scope of work (temporarily or permanently) and that would be a good gauge of whether the individual and firm are a match.

Employees: Interviews are a two-way street, hence understanding the size of the firm is the first step to understanding which spectrum of the scale you would require to be in: Flexible or Familiar? Again, this supports point 1 on role redundancy, in a smaller set-up, the skills you equip yourself with are keys to ensure that you continue to stay relevant with today’s needs.

Under-appreciated Work (19%)

Shock Factor: 3/5

Truth: This scenario usually occurs after an employee happens to be in a firm for a substantial amount of time. The shock factor may not be as impactful as finding out that salaries are not on par for individuals but this creeping factor comes as a big surprise to employers who have their star candidates resign from the firm.

How to overcome this:

Employers: “Stay interviews” are good approaches to nip the problem in the bud before your star employee resigns. If you’re currently leading a team, we understand that the client demands can be excruciating but do look back at your team to make sure they are still in this race with you. Teamwork makes the dream work!

Employees: There will be days where you feel like no one appreciates your efforts, and you seem to be taken for granted. The truth is this: only you can really truly comprehend what you’ve given – be proud of yourself! Always remember to find balance in and out of work before reaching a point of burn out. If you’re looking for a step-up or a pivoting to a more suitable role in your company, be proactive in speaking to your supervisor to discuss potential new goals in sight for you and the firm.

Others (10%)

Stay tuned to Part 2: Denial and Guilt in the next part of our series!

FundFAQ! for Private Equity Fund Accounting

Tue, 02 Jul 2019 06:30:59 GMT

OVERVIEW

We have interviewed 47 candidates we have recently spoken to after attending an interview regarding private equity fund accounting in the alternatives investments industry. FundFAQ narrows down the key questions to look out for, what other progression routes can candidates also venture into and most importantly, how did they feel after attending the interview.

Private Equity Fund Accounting

Top 5 alternative roles that candidates are also applying for:

Senior Fund Accountant
Research Analyst
Buy-side Fund Finance
Business Development
Corporate Accounting Assistant Manager

Get the full infographic here: FundFAQ: Private Equity Fund Accounting_Alternative Investments

If you are keen to speak to a specialist that specialises in hiring private equity fund accountants, please reach out to our respective consultants:

Introduction to the Break Up

wow@shazamme.com (Default Author) — Thu, 27 Jun 2019 06:34:16 GMT

How did it end up like this?

There are many reasons why individuals choose to leave their current firm. Whether it is a step-up from their existing post, a mid-career switch, relocation opportunities, or even going back to school! Whilst the above motivations are beyond many employers’ control as these reasons involve activities beyond the office; however, there is a fair share of employees who choose to quit – and employers can control this.

Should the blame only be weighed on the employers’ shoulders though? Budget constraints, the working environment, promotion of internal opportunities or processes are just some of the key points that employers have to crack their heads day in and day out.

The Break Up is a series that strives and hopes to find a middle ground that marries both the individual’s interests and the firm’s interests. In the long run, this series aspires to promote career longevity by tackling current human capital affairs.

In this 6-part article series, Funds Partnership Asia highlight both firms’ and individuals’ perspectives on 5 critical reasons why the career break up happens and what we can do to prevent it:

Role redundancy
Salary mismatch
Lacking of business processes and structures
Mismatch of expectations
Under-appreciated work

6 degrees before separation:

Shock & Disbelief
Denial & Guilt
Anger & Bargaining
Reflection
Working it through
Acceptance

Get the full infographic here: The Break Up #0: Introduction

From Comfort to Courage: How Recruitment Pushed My Boundaries

wow@shazamme.com (Default Author) — Wed, 26 Jun 2019 06:37:02 GMT

We interview one of our #DreamTeam members, Justin who focuses on recruiting Senior and Front Office Investment professionals in Banking, Asset Management & Family Offices across Asia. We find out some inside scoop on what makes him come alive, what keeps him going, and some advice he has for fresh graduates hoping to enter recruitment:

1. What do you do at Funds Partnership Asia exactly?

By developing in-depth relationships with top talent within the Investment and Asset Management industries, my primary focus is to partner with individuals and companies alike, using the depth and breadth of my expertise and market knowledge to deliver a full consultative service and identify the right individuals for the right companies.

Roles I specialise in recruiting for include: Investment Research/Equity Research/Risk/Fund Performance Analyst & Portfolio/Fund Managers for Investment Firms.

2. Tell us more about your background. Did you ever expect yourself to be a recruitment consultant?

I graduated from the University of Western Australia majoring in Finance and Economics. I never expected to become a recruitment consultant! However, I was always interested in the Asset Management space, so I was already applying for jobs in the sector. Funnily enough, one of my Junior College mates, Daryl, chanced upon my profile on a job portal and decided to represent me for an opportunity in the asset management space. That’s how I started learning more about recruitment, and I haven’t looked back since

3. Describe your typical work day as a consultant!

Like other corporate jobs, we have ‘fixed’ working hours from 8:30 to 6:30pm, but what’s great is that we aren’t desk-bound. My typical day comprises of meetings or phone calls with clients and candidates, to check-in on them and maintain the relationships. Also, I have 4 sessions of Power-Hour every week, where I do nothing but chase warm leads and make cold calls for business development purposes. It’s quite intense but I’ve grown to love it! Finally, there is the mundane-but-very-important administrative work that I need to do to ensure I’m keeping tabs on all the different clients’ and candidates’ progress

4. Have you ever been uncertain or fearful on the job?

Yes, for sure! Starting out, when I had to make my first client call I had no idea what to expect or how to even start the conversation. However, with much training and coaching from my colleagues in FP Asia, it got much easier as I went along! I also believe in learning by trial and error, so this job definitely pushed me out of my comfort zone to grow

5. Considering all the candidates you have met thus far, what personal attributes do you think clients look out for?

Generally, clients are more inclined to pick candidates who are confident and concise in their interviews. I always tell my candidates not just regurgitate their CV but internalise their strengths and experiences and share the essence of it! it is extremely important for your personality and X-factor to shine through. If the candidate sounds like he or she knows what they want in life or are very intentional about their next step or goals, it is very attractive to the client!

6. Considering all the clients you’ve met thus far, what do you think draws a candidate to accept an offered role?

One big factor that is often overlooked is chemistry between the client and the candidate. This is something that you definitely cannot ‘prepare’ for as an employer, so it is just best to be yourself! Do remember that their first impression of the interviewer is oftentimes a reflection of the company and its culture, so portraying this accurately is important as well. It definitely helps if the offer is attractive too

7. What’s the best part of your current position?

What is most fulfilling is the sense of achievement when I manage to close a role with a client, and when there is mutual satisfaction on both sides! I also enjoy having the autonomy to manage my own time – as long as I hit my targets, there is a lot of flexibility on how I want to spend my day.

8. What was the biggest challenge you faced when you were on the job? Are there any kind of unique challenges?

A big part of recruitment is about time management, as there will be multiple projects, clients, candidates to handle at one point in time. I’ve come to realize that becoming a top consultant is simply about having a mind-blowing level of discipline – sometimes it’s really about a numbers game

9. Is there time for life outside of work?

Definitely! It’s all about time management and discipline again. For example, I’m still able to squeeze in a 60-90 min gym session every day despite my busy schedule!

10. Would you recommend/advise fresh graduates to join the fund management industry as recruitment consultants?

Yes! This is especially if they don’t know what they want to do, but are interested in closing deals or business development. I think it’s a good entry point for anyone who want to know what it’s like working in a goal-oriented, sales environment.

11. What advice would you give to someone who wishes to be a consultant?

DON’T GIVE UP! The first month will be the hardest when you have to hit the ground running, but it gets easier every day. One tip would be planning your schedule the evening before – it really helps me focus on which are the important and urgent tasks.

FundFAQ! for Corporate Secretary Opportunities

Tue, 18 Jun 2019 06:45:08 GMT

Overview

We have interviewed 67 candidates (Singapore and Hong Kong) we have recently spoken to after attending an interview regarding corporate secretarial career opportunities. FundFAQ narrows down the key questions to look out for, what other progression routes can candidates also venture into and most importantly, how did they feel after attending the interview.

Corporate Secretary

Top rated portfolios by interest:

Singapore:

Listed Companies: 26% of candidates are keen on this portfolio
Offshore Companies: 25% of candidates are keen on this portfolio
Private Limited Companies: 37% of candidates are keen on this portfolio
Investment Funds: 12% of candidates are keen on this portfolio

Hong Kong:

Listed Companies: 42% of candidates are keen on this portfolio
Offshore Companies: 26% of candidates are keen on this portfolio
Private Limited Companies: 17% of candidates are keen on this portfolio
Investment Funds: 15% of candidates are keen on this portfolio

Get the full infographic here: FUNDFAQ: Corporate Secretary

If you are keen to speak to a specialist that does executive search for corporate secretaries in Singapore and Hong Kong, please reach out to our respective consultants:

More than We Could Have Dreamed Of: Perspectives from 30+ Years in the Funds Industry

wow@shazamme.com (Default Author) — Thu, 13 Jun 2019 07:23:47 GMT

OVERVIEW

In this exclusive interview, hear first-hand from Blair Pickerell, chief executive with 30+ years of work experience in Asia. He is the Ex CEO of several significant investment management firms, managing 70,000 + staff across 20+ countries in dozens of industries. A fluent Chinese speaker, he is currently semi-retired and serving on the boards of several listed companies as an independent director. Find out perspectives on management, trends and challenges within the funds industry, and what it takes to thrive and stand out:

1. What’s a day in your life right now?

In general, my time is split among the following:

Work: meetings of various boards and advisory groups
Leisure: working in the garden, reading, hiking, travel, golf, and meals with friends.
Helping: assisting a few educational institutions and mentoring a few young executives in the industry.

For the board work, large listed companies set their board dates 1-3 years in advance, so it is easy for me to know when I will have free time far in advance. This makes it easier for me to plan pleasure trips and appointments with friends and mentees. These official meetings tend to come in waves, so there are weeks when I can be quite busy with several board or committee meetings and other weeks when I have no commitments at all.

Hong Kong is definitely a great place to live for that balance — a bustling business centre where one can keep in touch with the financial world while also being a great place to live a relaxed life with good food, good transportation, and many lovely country parks. It is a great place to be semi-retired.

2. After being in the funds industry for 30+ years, looking back, was this the trajectory you expected it to head towards?

Honestly, I had no real expectations. Back then, my focus was just on doing whatever job I had. We just wanted to hire and train good staff, provide excellent service, introduce funds to the growing middle classes of Taiwan and Hong Kong, and to be the clear leader of the industry we were helping to create.

If I go back to 1985 and reflect on what subsequently occurred, never in my wildest dreams did I foresee that the Asian funds industry would as big as it is right now. Back then, there were just a fairly small number of mutual funds in Hong Kong, sold predominantly to the expatriate community. As for Taiwan and China . . . well, there were none. Indeed, in those days, if you were working in Taiwan, you could not even step foot in China, and both places did not allow foreign investors to buy local equities.

I was involved in an advisory role in the launch of the first open-ended mutual fund in China, but we clearly never dreamed that today there would be something like 30, 000 funds in the PRC. At one point, two decades ago, there was a period when Jardine Fleming (with 65% market share in Hong Kong and the leader in Taiwan) processed more fund transactions per day in Hong Kong than Fidelity was doing in all of Europe. So it was clear that this was a product with potential. But the growth of the industry in markets like China, Taiwan, India, and Malaysia has been much more than I would have dreamed.

It has definitely been fulfilling seeing how it has progressed over the years!

3. Would you do anything differently?

There are some days when I feel that we have accomplished a great deal. As a result of our efforts, many people in many countries have invested in funds for the first time, thousands of jobs have been created, and many industry leaders have been developed. The teams I worked with helped build a major industry in numerous markets and introduced many innovations to the industry. On such days, I feel that I can retire knowing that I have made a small difference in the world.

On other days, however, I look at the past 30 years and feel that we have done a pretty poor job. The fact is that most people in Asia do not have a proper investment portfolio. There is a strong tendency towards speculation, and our industry has not done enough to slow this tendency. The result is that most investors in Asia have a very unbalanced portfolio, with a heavy weighting towards “sexy” countries and industries and a poor overall asset allocation. Many people have purchased just one or two funds—usually those pushed by banks and brokers—then held them for a fairly short period of time. In general, our clients have not been good investors.

For example, US equities is actually very lacking in most portfolios even though the US stock market accounts for roughly 40% of the world’s market cap and has shown good returns for decades. Asian investors have viewed the US as “the economy of the past” while being all too willing to buy funds investing in whatever Asia market is hot today. I remember there was one period when Hong Kong investors invested more in Vietnam funds in a couple of months than they had invested in US equity funds in a couple of decades. That simply makes no sense.

In Asia, we should instead be focusing on making sure that the middle class ends up with a balanced portfolio that is sustainable in the long-term — one that can fund our retirements in the future or our children’s university bills in 10-15 years

4. Do you foresee this as a growing problem? What is the reason for this? How do you think this can be overcome?

I often use the analogy of going to the supermarket.

For example, I like beef, so I put it in my shopping basket. And I like chicken, cake, and ice cream, so I put it in the basket. Whenever I see something I like, I put it in the basket and I proceed to buy it. I then go home and then my wife says to me, “How do you expect me to make meals out of these? There is no rice, no vegetables, no fruit, no noodles, and no soya sauce! “ We won’t starve, but it is certainly not a balanced diet.

Sadly, that’s how many investors behave— “if it looks good, I’ll buy it.” Far too few people are thinking about putting together logical, balanced portfolios that solve a larger problem. This tendency is driven by both the fund distributors and the clients’ own tendencies, but the fund management industry has done too little to educate investors as to what a proper portfolio looks like.

For example, sales of China funds, Southeast Asian funds, and Vietnam funds have been very robust. On the flipside, if you ask how many people have meaningful exposure to US or European equities or global bonds—the three biggest asset classes globally—you would be surprised how few people have any of these in their “portfolios.” The answer is more client education, but it has not really happened yet.

5. What is the most challenging things you feel the industry is facing today?

Client education.

I often hear people say, “I’m not greedy. I just want a steady 7 – 10% return with no risk”. If you want no risk, then you should purchase a government bond at 2.5%! Educating investors to understand risk versus reward, long-term versus short-term, and how to build a logical portfolio is a major challenge facing the industry.

Another challenge is that the cost of the distribution is very high. Funds that are promoted by sales people get the attention, but they also come with higher fees. On the other hand, funds with low fees tend not to get promoted. The lack of a no-load fund industry in much of Asia is also very telling!

There is a trade-off between building distribution and the increased cost of the product. ETFs generally come with a very low fee, but then there is no sales machine out promoting these products. On the other extreme, you have funds promoted by some insurance companies and advisors which carry extremely high fees, but they are heavily promoted. The trade-off between distribution and cost is always a challenging one.

6. What is one value that you have upheld in all your years in senior management?

Teamwork. I always like to emphasize that we are one team. Having a corporate culture which emphasizes cooperation is very important. I have very little time for office politicians. We should all work together to build our industry and build our firm.

In building good teams, I think it is important that we try to avoid those individuals who are very keen to make a lot of money in a short period of time. My answer would be “go become an investment banker or stock broker.” Our industry is quite different; one which I would call “long term greedy.” We tend to prefer employees who don’t worry too much about this year’s pay or bonus but know that if we as a team build strong shareholder value over the long-term then they will be well compensated longer-term. This is perhaps a different mindset than in certain other corners of the financial services industry. As I like to say, “If people come for money, they leave for money.” It is better to attract people with the opportunity to learn and grow and be part of a winning team then simply what this year’s bonus will be.

7. Do you tend to hire senior management from within?

I much prefer to develop our own talent internally. Of course, one needs to occasionally bring in talent from outside when one doesn’t have the right people available—especially for certain specialist positions. But in general, it is much better to develop talent internally. This is more likely to result in good morale and cooperation since everyone grew up in the same corporate culture.

One headhunter told me that over 20 CEOs in the industry in Asia used to work for me, which made me quite proud. It means that we were hiring and developing the right people.

And when you hire from outside, I believe you should be very careful in making sure the person will be a good match. I was surprised how often people were willing to hire a person they met just once or twice. I like to say that employment should be like a marriage: it might not last for life, but at least when you enter it, you HOPE it will last for life. For instance, would you marry someone on Thursday that you met on Tuesday? But we are often all-too-willing to hire people we don’t know very well or who are not really a good fit, usually because we feel we are under pressure to fill a vacancy quickly. While this often solves a short-term problem, it can also create longer term problems.

You are going to spend most of your awake hours in the office; it is important that you are working with people you like and who are competent and cooperative. From what I have seen, hiring lots of people after a fairly quick interview process and them firing many of them because they don’t work out does not lead to a good corporate culture.

8. Any other major challenges that you see?

The ever-increasing regulatory environment.

For this industry to thrive, you of course need a fair number of regulations, but the level of regulation is becoming excessive, in my view. It is getting harder and harder for individuals to buy funds given the need to understand their source of wealth, make sure they are not taking undue risk, ensure they are not terrorists or corrupt officials, etc. While well intentioned, the actual implementation of many of these regulations has created quite a bureaucracy which makes it harder and harder for clients to buy funds. I have heard stories of several highly experienced senior business executives who were told they could not buy certain funds because they had had no experience in buying derivatives, etc. (and so couldn’t buy emerging markets funds as they are “high risk”) or were over 65 years of age.

You cannot have a sales process where highly-experienced businesspeople who know what they want have to spend an hour or so answering questionnaires, often on a recorded line. I sometimes comment that in certain jurisdictions, it is easier to get married than it is to buy a fund.

Regulators determined to protect the investor, and that is a noble cause. That said, imagine if you went to a restaurant and just wanted to order a hamburger or milkshake. But in order to do so, the waiter is required to ask you a long series of questions before taking your order. How much sugar do you digest in the typical week? How many vegetable and fruits do you consume each month? How many hamburgers have you had in the past week? Can you tell us about your parents’ health history? I’m quite sure you would get exasperated as a customer very soon, especially if you have a very good idea of what you feel like eating today.

9. Would you say academic qualifications or technical skills are as important now as they were in the past? Can some of the skills be learnt on the job?

Both are important. Academic brilliance is not enough to do well in this industry; one must have practical experience and skills to deal with the many operational needs one faces. At the same time, the industry is becoming more and more specialized, and one must have a solid understanding of finance and investment to be effective in many roles.

As the industry grows, it also becomes more and more specialized, especially in certain types of fund management or in compliance, risk management, operations, HR, IT, etc.

At the same time, it is worth remembering that we are a consumer product, and so our branding and marketing ability should be as good as a firm like P&G. Just having a few senior fund managers sitting around the table deciding what advertisements to run won’t cut it in today’s world. But we should also remember that this is not a terribly complicated product—after all, your mother is supposed to understand what a mutual fund is. And it isn’t that hard to manufacture one.

On the institutional side, however, the clients are becoming more and more specialized, and the days of the hail-fellow-well-met salesman are over. Clients expect to meet with account officers who have a solid understanding of the products, of the investment process, of risk management, and of operational processes. In that sense, the industry is attracting ever more capable people.

10. What are your thoughts about the future of funds industry in Asia?

We are definitely in the right part of the world. After all, the investment management industry is all about managing wealth, and nowhere in the world is wealth being created at a faster pace. That is true for governments, financial institutions, pension funds, high net worth individuals, and individual middle class investors. So the macro outlook looks very favorable.

Furthermore, this is the right time. Some 25 years ago there was much less wealth to manage than today, and 25 years from now the industry will be much more mature and the winners and losers probably already decided. This should prove to be the high growth period.

Of course, there are many challenges as well: the overall performance of the markets, investor education, hiring and retaining good staff, increased regulation, ever-increasing costs, and tougher foreign exchange controls in some markets. Also, the entire industry globally is finding it difficult to outperform benchmarks and indices.

But overall, there is still huge potential in this part of the world as more and more people join the middle classes and as the investment management industry grows in exciting new markets.

11. As a semi-retiree, what is important to you now?

Health, family and friends. When I speak with others of a similar age and situation, we almost always agree that these are the three things that matter at this stage in life. When you are in your twenties and thirties, you have to go out there, hustle, and work hard. However, once you’ve reached a point that you’ve had good jobs, saved good money, and are in the last third of your life, health, family and friends become the big priorities in life.

FundFAQ! for Business Development Opportunities

Wed, 29 May 2019 07:28:27 GMT

OVERVIEW

We have interviewed 23 candidates we have recently spoken to after attending an interview regarding sales or business development roles in the alternatives investments industry. FundFAQ narrows down the key questions to look out for, what other progression routes can candidates also venture into and most importantly, how did they feel after attending the interview.

Business Development Opportunities

Top 5 progression routes candidates can also venture beyond:

Other business development roles with an increased seniority
Client Servicing – a non-sales function
Account Management for other industries such as technology, consulting, etc.
C-Suite level opportunities
Getting entrepreneurial and setting up own business

Get the full infographic here: FundFAQ: Business Development_Alternative Investments

If you are keen to speak to a specialist that does executive search for the next rainmaker for your firm, please reach out to our respective consultants:

Ahead of the Curve: How Motherhood Made Her Gear Up, Not Wind Down

wow@shazamme.com (Default Author) — Wed, 15 May 2019 07:51:02 GMT

In this exclusive interview by Funds Partnership Asia with Iesan Tsai , Head of Asia at Hermes GPE , we discover how she landed up in Private Equity, why she moved to Singapore, and what a day-in-her-life looks like! Discover why having kids has actually made her more focused and efficient in her job, and her thoughts on what soft skills she looks out for when hiring!

1. What is your career trajectory in a nutshell?

I was very fortunate that the moment I graduated, I always knew I wanted to work in Private Equity.

At that time (2005), Private Equity was still quite a niche industry and did not have the “reputation” or “prestige” that it is associated with today. The job description was something along the lines of being “in the finance industry, but with international components where you get to interact with companies”.

Nonetheless, I somehow had the mentality to do things ahead of the curve, to forge my own path instead of following the crowd. One big motivation for me was that chance to work with smart people. I was fortunate to have entered the industry back in 2005 first in the U.S. and have stayed in it or in some form of finance ever since.

Thankfully, I had a bit of instinct in terms of understanding what I enjoy, and that definitely meant the process and journey of getting to where I am today rather than simply the end result. It has been a journey of learning, and staying true to my interests.

My big career break in Asia came in 2012 when I moved to Singapore with my husband. At that time, he was working in China while I was based in San Francisco for investment banking. While it was long distance, we always got off work at the same time (6PM in China for him which was the equivalent of 2AM in West Coast of the US)!

At an opportune moment, he had a chance to transfer to Singapore. I had no job prior to arriving but once again I decided to follow my instinct – and it paid off. Within a month, I found a role at Hermes GPE and it has been quite a ride since then.

There were very few people doing Asian co-investments at that time, but I saw it as a great opportunity to be proactive instead of reactive. This was especially since the Singapore finance industry was booming at that time and allowed one to be very entrepreneurial. If you are in a more established firm, you may be limited in terms of the scale of changes you can implement. However, since the Asian market was in its infancy at that time, I had the chance to help develop the Hermes GPE brand in Singapore from scratch – everything from sourcing to deployment strategy.

They have experienced rapid growth in the last few years, and now I lead their funds across the Asia Pacific region, including China, Southeast Asia, India, Australia, Korea and Japan

2. Did your parents have a say on your career choice?

My parents are Taiwanese and are very traditional and pragmatic when it comes to career choices. They are from a different generation and they will only tell you one thing which is largely shaped by the socio-economic circumstances at that time. Obviously, since Private Equity was in its early stages, they had no idea what this whole industry was about.

This is the reason why I believe strongly that children should not just listen to their parents’ advice blindly. Parents can only loosely guide their children based on the life lessons they have learnt, but not dictate their choices.

If I had followed what they truly wanted, I would have become a doctor instead, and I definitely wouldn’t have been as happy or fulfilled!

3. What skills enabled you to enter the industry?

Fortunately, my good educational background did put me in good standing. That said, you also need to develop your own network, which has opened up a lot of doors for me. While I did not necessarily possess all the hard skills yet when I entered the industry in 2005, you just need the right attitude and mentality to make an impact. You can only teach people hard skills but you cannot teach attitude.

It is easy to be transactional, but this is a role that is highly relational and client-facing. And that is one reason why women are very well-suited to this role, which includes developing connections, being helpful and going the extra mile.

4. What are some challenges that you face balancing work and being a mother?

One thing is that I made sure is that whatever I am doing, I need to like it enough so that if I were to have kids and have a family, I would be happy to go return to it afterwards.

People tend to wind down on their careers just before they start to have kids – but it was actually the opposite for me. In fact, I stepped up on the gas pedal more, because I was always excited to go back to where I left off!

When I was pregnant with my first child, I was still an Associate. The way I managed it was initiating a conversation with my manager, and that is something I would highly recommend. By being proactive about it, I let him know that during that period, I would be just as committed to my job and that it would not affect my performance.

I genuinely think there is no conflict to being committed to family and your job! What I like about being a working mother is the fact that I can inspire them that it’s entirely possible to do both.

Since my kids are still relatively young (ages one and five), their needs are definitely more physical and actually more simple at this stage – feed them, change their nappy and they are happy. It is only when they are older that more emotional support and quality time is needed – and that would be a different challenge altogether. Generally, I want them to be independent so I don’t need to be with them every step of the way.

Having extended family around would have been a great support, but since I did not have any based in Singapore, so it was crucial to link up with reliable help – be it in the form of a childcare service or domestic help. Furthermore, I do travel quite a lot for my work, so having people who are trustworthy is important.

One good thing is that I have a very supportive husband who has always been encouraging me to pursue my career.

We are mutually supportive and we work as a team to create win-win situations, and that might mean taking turns to take up career opportunities, so that family is still a priority.

Definitely, behind every successful man there’s a successful woman. As long as you both are aligned with what you want to achieve, it can definitely work!

5. What is a day-in-your-life as Head of Asia? Did you have to be very disciplined about your schedule?

A typical day includes a lot of external meetings with companies and clients. Every day, you can be in discussion with something very different, across all industries – consumer, advertising, or a tech company of different sizes.

Apart from that, I would mostly be at my desktop or at internal meetings. These could include due diligence, reading up, writing memorandums, and number-crunching and managing teams.

My goal is to always try to at least get home for dinner to eat quickly and then spend an hour with my kids by reading them a story before they go to bed. Once they’re asleep, I’m back on the computer or on the phone for work. Being involved at a regional and global level means the frequent late-night conference calls when speaking with our UK Headquarters. During the weekends, I spend quality time with my children but once they are napping in the afternoon, I try to get some work done as well in the pockets of time.

Ironically, having kids actually made me a lot more efficient and focused! If I am going to maintain a career and spend time away from them during the day, I should be effective at and devoted to what I am doing.

Moreover, I would say that kids are a very good distractor when it is necessary to give your brain a break. It is almost impossible for you to be multi-tasking when with them or to check your phone and email. Kids always live in the moment, and it forces you to be very present.

6. When you first entered the fund industry earlier on – was there any prejudices or obstacles you had to overcome as a woman? Are there any advantages in terms of being a woman compared to a man in this industry?

When I was more junior in my career, there were definitely more disadvantages. For example, you can deliver a message the exact same way a male can, but it would be interpreted negatively. Undeniably, it was a challenge, but that is where you have to persist and know your value. At a more senior level, the women that succeed oftentimes are based on actual results. On the other hand, sometimes men are promoted based just on potential – leadership, vision, packaging, style, eloquence, rather than actual track record.

However, there are plenty of upsides in hiring women – they naturally have higher EQ, empathy, and generally tend to be more conservative in projecting their rate of returns, so this creates a sense of trustworthiness and consistency!

7. Do you have any tips on how women in leadership can better work with male colleagues?

My advice is then when you work with men, try to make statements based on facts rather than emotions. When you disagree, you can do so in various stylistic ways. Try to be constructive and ask questions, as opposed to telling them authoritatively.

Besides working across genders, it is important to manage across different generations as well. For example, millennials, which will make up the vast majority of the workforce, prefer a more collaborative environment that is not based on hierarchy. You cannot just order them around; you have to build consensus. On the other hand, the needs of Generation X (those who have worked in the same company for 20 years) need to be met as well.

The other thing with male colleagues is about earning their respect. Getting them to carry out tasks is not just because you have a title, but more a coaching process. It is more about showing them that you are able to do the dirty work, be their team member, and exemplifying that you are able to do both the technical and soft skills portion.

It is about showing that you that it is feasible to accomplish it, but that is why you are directing them to the same.

8. What’s the most fulfilling thing about being in this role?

I think it is a fantastic feeling when you have helped your client, partner, or portfolio company achieve their goals. When you have created a win-win situation where you help a company in their growth plan, it can be very satisfying. It really makes me happy seeing companies take flight and knowing how we played an integral role in that.

9. Would it take a certain personality to succeed in PE? What types of soft skills does one need to enter PE?

1. Methodical: Chasing deals does not just mean aggressively hunting them down, as we understand it in the male-oriented context. It is also about being strategic and meticulous – for example, asking questions such as what is the best way I can map this landscape? Who are the managers I want to partner with?).

1. Patient and highly relational: You can be as aggressive all you want, but that is not going to get you anywhere, especially in Asia – or Singapore – as it is not as transactional. Relationships develop over time. It is very important to be helpful to a connector, or manager even if you might not get anything in return. It is critical to be able to network and connect with many different types of people out of your comfort zone.

2. Team-oriented: It is critical to be able to see the big picture instead of self-preservation and coming up with win-win situations with your teammates. You definitely need very high EQ to see the other side and this will sustain you in the long-term and can make-or-break you.

3. Entrepreneurial quality : You have to be a self-starter, someone who does not need to be given parameters, but just general guidelines and is able to hit the ground running.

10. What is the future of the funds industry in Asia?

I highly recommend mid-career switchers to think out of the box and be open to being more mobile geographically.

Moving to another country has been one of the best ways that I have gained new experiences or get out of my comfort zone.

Furthermore, technology representation is an increasing proportion of deal volume. Even for the more mature sectors of PE, tech deals amount to nearly half. Also, Venture Capital (VC) will likely to have increasing demand relative to PE in the near future.

If one can excel and truly show mastery in say 2 to 3 skillsets and layer this one with strong interpersonal skills, one can be a in the top percentile of the private equity and funds management industry. The industry is undergoing a lot of rapid change and some of the past ways of doing business will become obsolete. Try to think flexibly and ways in which you can bring innovation into your workplace – then roll-up your sleeves to put those ideas into action!

If you’re interested to find out more about opportunities at Hermes GPE or have a desire to enter Private Equity, do follow Funds Partnership Asia or send over your enquiries to ayyaz@fundspartnership.com

Management, Motherhood and Multi-Tasking: How She Does it All

wow@shazamme.com (Default Author) — Fri, 26 Apr 2019 08:05:03 GMT

Join us in this Funds Partnership Asia special with Qian Jing Jing , Managing Director Asia Pacific at Sanne Group as part of our Women in Funds series. Hear first-hand insights on how she manages cross-cultural teams, the future of Fund Administration, and how she juggles it all as a mother of 2:

1. What’s your career trajectory in a nutshell?

I was originally born in Shanghai, but did my Bachelors in Finance and Masters in Accounting in Dublin. Upon landing my first job as an Auditor in EY, I spent the next four years doing controls-testing for the entire Dublin.

Working at EY definitely equipped me with a solid foundation and it was there that I gained experience and knowledge about funds. However, this was 99% limited to the Hedge Funds sector.

When I came back to Shanghai, China in 2010, I was head-hunted by Sanne Group – a US-based company which was expanding to Asia. The Director of Asia at that time asked me if I was keen to help set up their Shanghai Office, which would essentially made me the second employee in Sanne Asia.

One big reason they wanted to hire me was my unique blend of experiences in Dublin.

I just happened to have the right background in compliance, risk and more importantly, cross-cultural understanding – having lived in both China and Ireland. They needed a bridge between the two cultures and someone they could trust to grow the company together.

To be honest, I didn’t really know exactly why I said “yes”, given that it was the early days of Fund Administration and there was much uncertainty, but I’m very glad that I did!

In 2010, I was mainly responsible for China-based funds. By 2015, I started focusing more on Hong Kong and occasionally Singapore, due to the similar type of clients and structure across both. From 2018 onwards, the pace has been picking up incredibly fast, with lots of ongoing relationship management across the region.

Quite recently, I was involved in setting up our fourth and latest office in Japan and on-boarding its director.

2. How did you go from Hedge Funds to Private Equity (PE)?

Although my understanding of funds were limited to just Hedge Funds prior to joining Sanne, I was more than willing to dive right in and learn about PE on the job.

It was still very lean at the start, as we were growing the company from the ground-up together and acquiring our first few clients in the region. Although I came in as a manager, I was involved in the details of execution, including personally preparing the accounts and financial statements.

Nevertheless, it was through this period that I gained the chance to understand the inner-workings and processes from the ground-up. Looking back, I can see how we had grown together with some of our clients, from project to project. In the first five years, the team grew quite slowly, from just one to ten. But from 2017 onwards, we grew quite exponentially to 22 people as of now.

When I first joined Sanne 8 years ago, the PE market had not really been developed yet, especially in China. However, in recent times, we noticed an increasing number of individuals switching over from Hedge Fund backgrounds, without necessarily having prior experience in PE or accountancy. This is happening rapidly in China, but is also a growing trend in Singapore and Hong Kong.

3. What made you want to enter Fund Administration (Sanne Group) for the last 8+ years?

I did have some opportunities open up in the buy-side, however I felt more inclined towards Fund Administration for a number of reasons.

In Asset Management, the accounting and administration functions are not revenue-driven at all. What’s more, buy-side is increasingly reducing its back-office to focus on investment and deals. If I had joined as an accountant, I would have to oversee all the structures and processes ensure the investor is serviced from start to end, under intense pressure.

This is in contrast to Fund Administration, where accounting is our REVENUE GENERATOR.

When we grow the team together, you are not just lending your technical skills (eg. accounting skills), but you will start to learn critical soft skills such as client relationship management and negotiation. You can’t get that from the buy-side!

Furthermore, you are able to achieve relatively more stable work-life balance as you’d be able to manage timelines in the long-term, administrating transactions based on the instructions from the Asset Manager. Instead, you’d still be challenged, but in a different way, such as managing cross-country teams and ensuring efficiency of processes.

I personally find that fulfilling and I’m confident Fund Administration is a thriving sector that is only going to grow in the near future!

4. What’s a day-in-a-life for you?

In the mornings before work, I will try to spend as much time as possible with my children! I usually make breakfast before sending them to school, so I tend to come in a bit later at around 9:15 or 9:30am.

During lunchbreaks, I make it a point to go to the gym. After so much intense brain activity, I find that exercise helps keep me alert and energised for the rest of the day.

If there is no urgent deadlines, I will leave office around 7:30 or 8:00pm and take about 40 minutes to get home. Once I’m home, I will totally switch off my emails and focus on being present with my kids. By then, so my kids would be preparing to go to bed. I’ll play a game or two with them and maybe a bedtime story. Around 9:30pm when they are in bed, I will use that pocket of time to check my emails again and respond if needed, otherwise I’ll leave it to the morning.

If I’m travelling, my husband then takes on the role of sending them to school and making breakfast. Sometimes, if both of us are unavailable, my parents step in to help as well.

I think the real challenge is when the kids grow up and when they go to primary school – that’s when they will need help with their schoolwork! It’s manageable now because they are still young at age three and five, but once the demands of the education system kicks in, it’s definitely going to be more taxing.

During the weekends, I try to spend all my time with family – be it going to the park or outdoor activities because I realised that quality time cannot be compromised.

So that’s definitely one thing I’m learning – how to switch off and switch on, and give your full attention to what’s at hand.

5. How is the work-life balance in Fund Administration? Would you say that it is better-suited for back-to-work mums compared to buy-side?

While we don’t have the deal pressure as compared to buy-side, but in Fund Administration, there’s a whole new set of challenges.

Right now, as Managing Director, my pressure is ‘ How can I lead Asia to grow’ ?

One of my priorities is constantly staying connected and inspiring very diverse groups of people. I saw a shift in my responsibilities from a hands-on, operations role to one that is more of a driver, change-maker, and leader.

Fund Administration definitely has a good balance – there’s the dynamism of working in a big team across multiple clients and regions, while still maintaining the stability as a service provider. This can be a viable option for back-to-work mums, or for anyone for that matter!

For example, I just interviewed a senior executive from Hong Kong who was switching over from a large buy-side firm. When I asked him why he wanted to join Fund Administration, his response was that he had newly-born twins and he wanted better work-life balance, but still have growth and challenge.

6. When you first entered the fund industry earlier on, were there any prejudices or obstacles you had to overcome as a woman?

The more you step into senior management, it is undeniable that you see a lot of the men! However, I’m quite open to that and haven’t experienced any incidents or cases where there’s been discrimination so far.

Most importantly, I think it’s crucial to just be yourself and not undervalue who you are! It’s not so much about “how should I behave” when I talk to men, but I think when you’re confident in who you are, they naturally respect you.

7. What advantages would women have over men? Do you have any tips on how women in leadership can work better with male colleagues/subordinates?

Men have different psychological make-up and insights compared to women, but both are equally needed in the funds industry.

Generally, men are more visionary, focussed and have more macro perspectives and high-level thinking. This proves useful when needing to think of the outcome and working backwards to achieve our objectives. For example, based on my experiences in interviews, women will tend to be very detailed about describing their experiences (inside-out), while men tend to present more of a big picture (outside-in).

On the other hand, women are more inclined to focus on details, which is useful in other aspects! They also possess core strengths such as EQ, intuition and sixth sense. This is why a combination of both is ideal in the working environment!

That said, oftentimes it’s not about gender but more about character and personality. Some traits are built-in, while others can be learnt. Embrace what’s built-in and own it!

8. What are some future trends in Fund Administration?

The Assets Under Management (AUM) for buy-side outsourcing is growing exponentially, even in Shanghai!

With the lowered barriers-to-entry, there are many smaller players entering the scene. It has reached a stage that when people think outsourcing, they also think about pricin g .

So how can Fund Administration make profits? What can we do to develop a proper model to make profit within the low-pricing framework? How can we improve our efficiency by re-structuring the team and business models?

That’s the challenge we are facing.

Also, the demand from buy-side is increasingly shifting away from just traditional “outsourcing” of services. They want Fund administrators to play a more advisory, strategic consultant. We need to set-up the structure to make sure everything is in properly in place, beyond just the maintenance of the transactions.

Bigger organisations invest a lot more in the risk and compliance function, and that’s where we can stand on a different level. Furthermore, we are in a good position because we’ve already been around for 18 years with a team trained in the US. I believe this is a good starting point from which we can start developing a system to differentiate ourselves.

9. What types of hard and soft skills does one need to enter Fund Admin?

I would say having the right technical skills in accounting, or especially having fund experience prior, would be ideal.

With someone with no background at all, the passion to learn is key! As a fresh graduate, it is crucial that they have a clear macro perspective of what they want in 2-3 years’ time, and a willingness to work towards those goals.

I’m not expecting them to understand PE or accounting knowledge straightaway, but they need to be serious to learn .

The other thing is, we live in an instant gratification era, where attention span is short! And that makes patience an extremely important trait in millennials.

As Accountants, you will honestly need to spend 2-3 years to learn the concepts fully. It’s quite common to hear executives ask, “I’ve done ABC… what can I do next? Can I do financial statements or a more advanced task?”.

In response, I often tell them that it takes time to build the foundation and understand the concept of what they are doing. They need to the resilience to wait things out, even if initially the job turns out to be not what they expect!

Of course, general professional skills such as time management and team work are important as well. In summary, the soft skills I am looking out for include:

Passion to learn
Patience and commitment (not being entitled!)
Time management (professional skills)
Team work and collaboration

I always tend to bring their expectations down a little, just to make sure they have some level of understanding before jumping right in and getting a rude shock. Perhaps that’s why in our Shanghai office, the turnover is very low as I’ve taken pains to “un-sell” the role and ensure they know what they are getting into!

If you’re interested to find out more about Sanne Group’s Graduate Programme or have a desire to enter Fund Administration, do send over your enquiries to ayyaz@fundspartnership.com

FundFAQ! for Private Equity Investments

Wed, 24 Apr 2019 08:10:06 GMT

Overview

FundFAQ narrows down the key questions to look out for, what other opportunities are the candidate market also applying to and most importantly, how did they feel after attending the interview.

Private Equity Investment Opportunities

Top 5 roles that candidates are also applying for:

Portfolio or Investment Management
Research Analysts / Senior Analysts
M&A Analysts
Investment Banking Opportunities
Consultancy Opportunities

Top 5 fields of interest candidates are interested in:

Consumers / Retail
Education
TMT / Information Technology/ Software and Hardware
Pharmaceutical / Healthcare / BioTechnology
Industrials

FundFAQ! for Hedge Fund Accounting

Fri, 15 Mar 2019 08:12:44 GMT

Overview

We have interviewed 83 candidates we have recently spoken to after attending an interview regarding Hedge Fund Accounting. FundFAQ narrows down the key questions to look out for, what other opportunities are the candidate market also applying to and most importantly, how did they feel after attending the interview.

Hedge Fund Accounting Opportunities

Top 5 roles that candidates are also applying for:

Senior Fund Accountant
Equity Research Analyst
Buy-side Fund Finance
Business Development
Hedge Fund Operations

Read more about FUNDFAQ : Hedge Fund Accounting Infographic here: FUNDFAQ: Hedge Fund Accounting

If you are keen to speak to a specialist that does executive search for hedge fund accounting, please reach out to our respective consultants:

Mother & Managing Director: Why It’s Not Mutually Exclusive

wow@shazamme.com (Default Author) — Fri, 08 Mar 2019 08:20:10 GMT

To commemorate International Women’s Day, join us in this Funds Partnership Asia special with Caroline Baker, Managing Director at Vistra Alternative Investments Asia. What are the challenges of being a leading lady in the male-dominated funds industry? As a mother of 2 and a regional head at Vistra Alternative Investments, Caroline candidly shares how she does the perceived near- impossible:

1. I understand you were at PwC before this, based in London. What was your journey like before joining PE? What’s your career trajectory in a nutshell? What made you relocate to Singapore?

I studied in Montreal, Canada in the Asset Management space and worked for PwC. An opportunity came up and I moved to Sydney, Australia for a short stint before being seconded to London for almost three years.

In 2012, an opening came up in Singapore, which I saw as a strategic opportunity for growth so I eagerly agreed to be based there for two years.

At that time, I was working closely with a client, a Private Equity Fund, The Chandler Corporation and eventually joined them full-time. It was the first time switching over to buy-side PE as a CFO. It was very eye-opening and exciting to see first-hand deals being done across regions and industries.

After 1.5 years, Ayyaz from Funds Partnership called me and recruited me to join Orangefield (which has now become Vistra) in 2014, specifically in Alternative Investments.

To be really honest, fund administration was not something that I had envisioned myself getting into, nor “aspired” towards. Perhaps like many others, I somehow had the impression that it was very bureaucratic, but I couldn’t have been more wrong.

My time at Vistra was extremely fast-moving and dynamic, especially in the rapidly-growing fund ecosystem that is in South East Asia. Initially, it was just one fund, then two, three, four… and we just kept growing exponentially from there. And there is still is so much potential for growth. Five years later, we have grown to 80 people, 5x the size with how we started out!

I believe this goes hand-in-hand with the increasing number of clients outsourcing in the region. I foresee that Singapore will become an increasingly attractive place to have your fund domiciled especially for fund managers. In particular, Private Equity and Real Estate are more attractive asset classes these days from the public markets.

2. When did you decide to make that switch from buy-side into fund administration, especially when the former seems to be conventionally the “end goal”?

More people want to go to the buy-side, and understandably so, given all that’s known about its perks. However, what most people don’t see is that you only will get exposure to ONE fund – which is very limited! Most do not even know how an actual fund works from end-to-end.

On the other hand, being a service provider and working with the clients across multiple strategies gives you the breadth of what’s happening in the industry. It makes you a more well-rounded, and that’s the experience I got at PwC, where I had spent the majority of my career.

Nevertheless, my brief stint in the buy-side was definitely needed! As a CFO at a buy-side firm, I was better-equipped to understand what clients’ needs are, their appetite for offerings, and what is really required. Indeed, understanding two sides of the coin has proven very beneficial.

3. What’s a day in the life of a Managing Director?

I have to say every day is a bit different, depending on what comes up:

There will always be the internal management and administration, especially with all the hiring and expanding that we are doing recently. I have a regional role so it definitely includes a lot of interactions with our headquarter office in Hong Kong. There’s no fixed proportion as it really varies depending on the circumstances.
Clients will always be our priority, so there’s a lot of interacting with existing clients and meeting new clients. It involves learning about their needs and how we can assist them, resolving any queries, and looking for new opportunities.
Another big part is speaking to potential investors on both a regional and global level.

It’s very fulfilling and no two days are the same. I enjoy that it involves both visionary work but I can also be hands-on.

4. How do you manage all that as a mother? Is there any difference being a female in this role?

Well, I have a 2-year-old son and a baby girl on the way!

Your priorities will definitely change once you have kids, but it’s entirely possible to retain the career and progression that you had before! While it’s a difficult balance, fund administration definitely that gives you flexibility to leave on time or to work from home.

Mothers need that flexibility in a job, and Vistra is really supportive. The more senior your position, the more demands you have on your time, but it also gives you more autonomy in scheduling.

Once I’m home, I try to be fully present. When my son is awake, I can take the time to fully focus on him. Once he’s in bed, I’ll go back to work for a couple of hours to finish any outstanding items.

We’ve also been really fortunate to be in Singapore, where there is ample childcare support so they are engaged during the day. You need to know you CAN’T possibly do everything yourself, and you don’t want to do everything yourself either. It’s a matter of prioritising what’s important to you.

An equal partner is equally important, such as a supportive partner who is willing to make sacrifices for the family. For example, I was sent to Canada for six months to set up our new office and there’s no way I could go without my son… so my husband took six months off work to come along!

This really made me appreciate the importance of working as a team. In fact, the reason I relocated to Singapore was because he was posted here for work. There’s a lot of give and take, and taking turns to support each other depending on our different seasons and opportunities.

5. It definitely seems that being a mother and succeeding in the funds industry is not mutually-exclusive. Was it a conscious effort to be disciplined or did you naturally find your pace?

I think it’s about finding something that you enjoy and are passionate about. The company you’re working for needs to be important enough for you to want to take away some time from your personal life.

Otherwise, you will start resenting every moment and the choice will become very difficult if you don’t enjoy your work. And that’s why it’s so important to step back, be BOLD and make the right career choice!

6. How is the work-life balance in fund administration? Would you say that it is better-suited for back-to-work mums compared to buy-side?

I’m learning that there is never going to be a perfect balance, just an acceptable balance.

While we need to stick closely to our clients’ timelines regarding reporting and deals, client-servicing does give good element of flexibility. Having foresight on the deliverables allows us to make preparations in advance, so what matters most is ensuring everything is properly resourced and accounted for.

We have a lot of working mums here at Vistra, and we give them flexible hours for what works for their families. For example, some start earlier in the morning after dropping the kids off at school, leave earlier to pick them up and then work from home later in the night.

There will be the occasional overtime when clients are rushing a deadline, but that’s where your support system comes in (be it your partner, parent or domestic helper!). The deal pressure of being in the buy-side is not there, which removes a lot of unpredictable factors.

7. When you first entered the fund industry earlier on, was there any prejudices or obstacles you had to overcome?

Honestly, from my experience, Singapore is one of the better places for women working in finance.

Women still struggle with biases and discrimination towards them simply because of their gender, and I hope that will continue to improve, however for me personally, I don’t feel that being a woman has hindered my career.

That said, we do need to be aware of some of the dynamics that do happen when you are the only woman in a room with 10 people, which happens quite often in the finance industry.

One very important thing to remember for women is to have confidence in their own abilities. For example, when I look at performance ratings, the men will rate themselves 5.5 but equally-capable or even higher-performing women will give themselves a 3.5.

We are truly our own worst critics, when we instead need to be our own best champions.

You have to realise that you have earned your place at the table and you are valued there! We need to recognise that having women on Boards and on senior leadership teams actually creates more revenue and contributes to better-functioning companies.

Women need to speak up and be part of the conversation, and it starts with you having that confidence to believe yourself!

8. What advantages would women have over men? Do you have any tips on how women in leadership can better work with male colleagues?

For one, women, in general, possess higher EQ; we can read people well.

The more women we have in leadership roles, I believe will create a more empathetic culture and company. We are able to understand what people are going through and can connect better with both women and men beyond an intellectual and work level.

For women who are managing and/or interacting with male colleagues, have confidence in your ability!

You are there for a reason. Believe it and take ownership of it! They will come to respect you and learn to complement your capabilities and style.

9. What types of technical and soft skills does one need to enter fund administration? For a mid-career switcher with no prior experience, what do you recommend as the best route to entry?

For technical skills, an accounting qualification or some form of exposure to PE would be good, but not an absolute necessity. As for those without strict accounting backgrounds, having experience or skills in ancillary services can also contribute to your advantage.

If you’re doing a mid-career switch from an unrelated industry, here are some of the soft skills we are looking out for:

Eager to learn and adapt. That is one of the key things we look for – how fast you can pick things up, flexibility and a positive attitude! In such a fast-paced and dynamic industry, there will always be changes. We don’t expect you to know everything but you need to have a teachable attitude and the desire to learn and grow.
Dedication to client service. There will always be last-minute changes, unreasonable clients, and crises, but having the interpersonal skills to manage relationships will definitely put you at an advantage.
Interest in growing alongside the business. We prefer to work with people who are not in it just for a paycheck, but rather, people who are genuinely interested and invested in taking our business to the next level. If you simply want to execute a job and get paid, this is probably not the right role for you.

If you are interested to make a mid-career switch or pursue a career in fund administration, do send your queries to careers@fundspartnership.com and we will be in touch shortly!

From Engineer to Private Equity: How to Leverage Your Niche

wow@shazamme.com (Default Author) — Tue, 19 Feb 2019 08:30:16 GMT

In this Funds Partnership Asia exclusive interview with Hareesh Nair , Managing Director at Fosun Healthcare Holdings, based in Singapore and responsible for investments across the Asia Pacific Region. Fosun is a Hong Kong listed multinational investment conglomerate, rooted in China, managing over $80B in assets. The Group’s investments into healthcare span across the whole ecosystem, from pharmaceuticals, hospitals, healthcare services, IT, medical devices and insurance.

Gain insights into how Hareesh leveraged his background to carve a niche for himself in this highly competitive industry.

1. I UNDERSTAND THAT THE PATH YOU TOOK TO ENTER PRIVATE EQUITY (PE) WAS DIFFERENT FROM MOST. COULD YOU SHARE WITH US HOW YOU LEVERAGED YOUR ENGINEERING BACKGROUND TO BREAK INTO THE FUNDS INDUSTRY?

My approach to private equity is to find investment deals that have potential for (1) superior financial returns due to industry and business fundamentals; and (2) credible linkages to existing portfolio assets, allowing for differentiated value add to the investee’s operations.

However, in my early career, I did not harbor any intention of pursuing a role in private equity at all. Nevertheless, my committed focus to the healthcare industry, coupled with my investment and operating background, education, and regional experience have led me to a rewarding career within private equity. This is particularly so for an investment strategy driven by operating value-add.

Starting with education, I majored in Chemical Engineering at Massachusetts Institute of Technology (MIT) and recruited for healthcare bioengineering roles. I wanted to be a part of technology driven industry, and during the weakened economy at the time, healthcare industry hiring remained strong. I accepted an offer from Becton Dickinson , a Fortune 500 medical device company, to join their 3-year leadership development rotation program, which provided me new roles annually in engineering, product development, and manufacturing operations in different geographic locations.

Although the technical training is not so relevant in my current responsibilities , my non-traditional start to my PE career allowed me to develop a different skillset compared to training provided by the elite competitive banking and finance analyst roles taken up by most PE professionals.

The engineering experience ingrained in me the ability to apply a structured and analytical approach to any problem.

The annual rotations forced me to relocate every year, and strengthened my ability to adapt and build relationships quickly with new colleagues from varied backgrounds: age, education, status, culture, ethnicity, and economic status . Beyond the corporate finance, these are important considerations when evaluating and supporting management team partners as an investor.

Of course, I was also acutely aware that I was missing the finance and business skillsets to drive the decision-making process myself.

Specifically, I wanted to understand why certain projects get prioritized, and how to develop budgets and business plans to bring products and tech to commercialization.

As such, I decided an MBA was the necessary next step to develop my corporate finance skillsets. My goal was to enter investment and business development within the healthcare sector, so it was ideal that I enrolled into Wharton’s full-time MBA, reputable in both finance and healthcare management programs.

Upon graduating, I knew I wanted to work for Medtronic . As the world’s largest medical device company and market leader in advanced technology, I would consider it as the Apple of healthcare. After considerable effort, I landed my dream job in Medtronic’s Corporate Development team , which focused on both M&A and early-stage investing.

My timing was fortuitous, as by 2008, during the US financial crises , entrepreneurs increasingly turned to corporates as a source of funding, and Medtronic had a healthy appetite and balance sheet to invest. As a result, I gained a wealth of investment experience by leading and closing many high-quality deals in a short period of time.

It was then I realized how much I enjoy being an investor, and wanted to join an organization where the investment team is the primary profit center and decision-making group.

That’s how private equity (PE) came into the picture. However, I recognized my background wasn’t the typical mid-level hires that major PE groups sought after.

I broke into the PE industry by creating my own opportunity:

Developing a strategy within Medtronic to work with GPs to invest in assets that would develop the local emerging healthcare markets; and
Identifying teams of like-minded healthcare investors

With a positive track record at Medtronic and support from my senior leaders, my efforts led to the establishment of Singapore based regional healthcare fund Quadria Capital , with Medtronic committing to the new group as one of the earliest LP investors, and myself joining Quadria to lead investments in SE Asia.

Fast forward to today, I’ve moved on from Quadria to lead investments for Fosun Healthcare Holdings in Asia Pacific to get closer aligned to the market and further develop my investment experience.

2. COULD YOU TELL US MORE ABOUT THE TECHNICAL SKILLS OR KNOWLEDGE THAT PEOPLE LOOKING TO ENTER THIS INDUSTRY WILL NEED?

I think there are two key skillsets for those hoping to break into the industry and looking into a junior to mid-level role as an investment professional:

Technical knowledge in finance and deal-making . Operating experience is very helpful in a sector-focused fund, but for investment team roles, it’s only possible if you can properly communicate the upside and risks of a deal accurately with commonly-used financial evaluation tools, and can logically structure agreements in accordance to market practice. I personally don’t think you need to go through an investment bank analyst programme to get this training, but the skillset needs to be in place.
Sector knowledge . It is important to understand the industry you want to focus on, such as trends and regulatory environment. This is especially critical for complex industries (such as healthcare, aerospace, energy), where you may be expected to continually advise management for origination or investment management purposes. Having that industry experience – even if it’s just for one or two years – is invaluable especially in a business development role where you deal with corporate finance and marketing strategy.

3. WHAT KIND OF QUALIFICATIONS DO YOU THINK FIRMS IN THE INDUSTRY ARE LOOKING OUT FOR AND WILL GIVE APPLICANTS AN EDGE?

For junior-mid level entrants, the main requirement is experience working on investment deals in any role, ideally coupled with a background in corporate finance. You might have touched deals as part of a due diligence team, worked in a portfolio company, or have a family background in investments. You could have picked up finance skills from a CFA or MBA, or trained at a Big 4. How you get your experience is really up to you – these are all appropriate!

The edge is how you can demonstrate the application of experience successfully on deal-related work, even if it was to recommend against making an investment.

This will definitely be tested at any interview.

4. WHAT KIND OF SOFT SKILLS OR PERSONALITY TRAITS WOULD YOU LOOK FOR IN A POTENTIAL HIRE?

I see PE as a role that is entrepreneurial in nature. There are three things which I feel are particularly important:

Self-starter and Vision. Competition in the industry is fierce and deals are complex to execute. Successful investors have clear strategies, and execute the big and small tasks pragmatically with whatever resources they have available. There will always be naysayers, but those who live for a challenge will thrive in such an environment!
A creative and analytical mindset. There are many moving parts to a deal: the firm’s investment mandate, source of capital, the needs of the sellers and management team, other stakeholders in the process (such as co-investors), etc. An investment professional has to bridge these dots with legal documents, business plans, and numbers to make sure the deal will meet both near and long-term goals
Thought leadership. When I consider potential hires, I don’t just consider the ability to use excel and PowerPoint.

I hope to work with up and coming leaders who have the confidence and ability to sit across from a CEO to discuss the business, ask thoughtful questions, and negotiate investment plans.

The CEOs of target companies live and breathe their markets, and I have found that they often prefer doing deals with people whom they can respect as a thought leader and partner in their sector, rather that somebody who just processes a cheque.

5. IS A CAREER IN PRIVATE EQUITY AS GLAMOUROUS AS MADE OUT TO BE? WHAT’S THE DEAL WITH CARRIED INTEREST?

The prospect of monetizing carry can definitely be attractive, but carry usually is rewarded years after any investment gets closed, and – depending on the firm – might be weighted heavily to the senior-most professionals in a firm. For someone just entering into the industry, it is possible that this aspect of compensation might not be so relevant, especially considering that mid-junior people do tend to move around, and might lose some or all entitlements to unvested carry depending on your agreements. (NB: Read the fine print)

Ultimately, I don’t think people should be entering into private equity industry only for the money.

Private equity can offer significant upside compensation for successful long-term outcomes along with comfortable basic compensation. However, for the junior-mid level aspirants, there are other fields of business and finance that could lead to similar basic compensation, but more immediate upside rewards (trading or banking for example).

Personally, I see PE (particularly at an operationally-focused investment firm) as being very comparable to being an entrepreneur in terms of setting a vision, raising capital, and executing a business plan.

The only difference is you place your bets with multiple companies. You hedge your upside, but also secure your downside. I recommend pursuing a career in PE if you’re interested in people interactions and the responsibility that comes with managing your investments.

In PE, you will receive broad exposure to business operations and high-level decision making at an earlier stage than most other careers. You might play several key roles in the business and work closely with the management team on issues ranging from acquisitions to human resources.

You could be in position to create opportunity for hundreds if not thousands of employees through new investments or better management of existing ones. I find that this potential for making impact is what makes my current role so meaningful and enjoyable.

6. ANY CHANGES OR INDUSTRY DISRUPTIONS YOU THINK NEW ENTRANTS SHOULD BE MINDFUL OF?

Compared to 5+ years ago, I believe investors will become more operationally-focused, and therefore, more sector-focused , with more active participation with their portfolio companies.

This is partly driven by the demand side: families who own the most desirable targets will expect value-add contributions beyond capital from any new investment partner.

As for the supply side, with significant amount of PE funding recently raised in the Asia region across many firms, investment teams will need to demonstrate true differentiation if they seek to source proprietary deals or have an edge in a bidding process beyond their cost of capital.

7. ANY FINAL ADVICE TO OUR READERS?

For anyone who is looking to enter this industry, be bold about reaching out to investment leaders to learn more.

I’d advise if you’re requesting somebody’s time to learn more about their industry or company, be prepared to offer them insights about your own. You might leave a positive impression, and could create a new opportunity out of the conversation.

If you don’t know where to start, seeking out recruitment agencies with strong ties in this space (such as Funds Partnership Asia ) is always a good way to obtain a general overview and layout of the industry.

If you are interested to make a mid-career switch or pursue a career in funds management, do send your queries to ayyaz@fundspartnership.com and we will be in touch shortly!

From Lawyer to Deal-Maker: Why Unconventional Doesn’t Mean Impossible

wow@shazamme.com (Default Author) — Wed, 09 Jan 2019 08:34:50 GMT

In this Funds Partnership Asia exclusive interview with Melissa Heng , Vice President at General Atlantic , who helped establish the firm’s Southeast Asian business in 2011 and lead the firm’s investments in Technology across the region. Gain insights through an in-depth look into her journey from an unconventional background into the world of Private Equity.

1. Could you tell us more about your journey? What were you doing previously, and how did you end up in Private Equity (PE)?

My first degree is actually in law, so my journey is an unconventional one. The first job I landed right out of university was an associate position at a law firm. I started off as a corporate finance lawyer, moving to investment banking, before finally joining General Atlantic (GA).

As a lawyer, I worked very closely with investment bankers on M&A and capital markets transactions. The hours were long and rigorous and I did not have much passion for the job.

My introduction to this industry really came from my time interacting with the bankers, which gave me good exposure to the business side of the deals I worked on. I was intrigued and felt that their work was much more interesting than the practice of law, and given my personality, felt that I would thrive in such an environment. With the goal of a change in careers, I decided to study for the CFA (successfully completing the level 1 CFA course) whilst I was still practicing law.

Fast forward a year or so, I made the jump to investment banking at Macquarie Group through a friend’s referral. In my new role, I mainly focused on capital markets and M&A transactions in the TMT space, and helped the bank to help establish their TMT practice in Dubai.

After my stint in investment banking for almost two years, I went on to do an MBA at INSEAD, and joined GA right after graduation in 2011. It was quite a strategic opportunity, as they were just opening their offices in Singapore to cover Southeast Asia and had actually reached out to me me after seeing my CV in the Private Equity club CV book they received from my business school. Thankfully, all my past experiences paid off and I became their first local hire.

Since then, I have been in private equity for over 7 years with a focus on technology and consumer-facing businesses in Southeast Asia and Australia & New Zealand. I haven’t looked back since!

2. From law to investment banking and finally to private equity, were there times where you felt that your technical knowledge was inadequate? If so, how did you overcome this gap in knowledge?

To be frank, the transition from law to investment banking was probably the hardest transition. As you may know, lawyers don’t really work much with numbers. Prior to banking, I had never even opened up an excel sheet during my time practicing law. I had to pick up most of my skills on the job, but studying for the CFA put me in good stead to do so.

More importantly, it also showed the investment bank my interest in finance and willingness and determination to put in whatever was required to make the career switch.

In addition, I also developed my investment skillset in business school by signing up for the relevant classes and by taking on the role of President of the Investment Management club, where I helped manage the school’s fund allocation. This resulted in a much easier transition from investment banking into private equity.

To enter into private equity, financial knowledge is a must. Most private equity firms require their entry level hires to be proficient in financial modelling and to be familiar with corporate finance. Any candidate without the prerequisite background will struggle with the technical case studies during the interview process.

My advice to potential candidates with no technical background would be to start early, pick up as much financial knowledge as possible before attempting to transition into private equity. For example, go for industry courses, certification programs like the CFA, financial modelling courses like ‘Training The Street’, do an MBA, and read up about investing in general. It is extremely difficult to jump straight into Private Equity without first having some sort of financial training, hence I would highly recommend starting out first in investment banking due to:

1. The higher number of positions available compared to private equity roles

2. Relevant work experience, foundational knowledge and technical training

3. How difficult is it to apply traditionally into private equity? Do you think your network of connections played a part in your successful jump into the industry?

Naturally, having a network always helps. I would definitely recommend anyone who has contacts within the industry to first leverage on those contacts.

Never underestimate an endorsement from someone already in the industry.

Likely, they would already have made a judgement as to your fit for the job and communicated it accordingly.

Even without relevant contacts, seeking out recruitment agencies with strong relationships in the industry (such as Funds Partnership Asia) is always a good way to get an understanding of, and take advantage of, the opportunities available in the market.

4. Did your previous experience as a lawyer differentiate you from the other candidates? Were there any soft skills which were transferrable that gave you an edge?

I think that being a lawyer (in particular with my transition to banking) definitely differentiated me from the other candidates during the hiring process. Two things which helped me stand out were:

1. Resilience and drive – My transition to banking highlighted my drive and determination to proactively do whatever was required to achieve my goals, which in this case involved months of self-motivated study on top of my long working hours in law.

2. Problem-solving mindset – The logical thought process and problem-solving skillset that law cultivates in you does help in dealing with complex deal situations. Familiarity with transaction documentation and regulation during the deal process is also a bonus.

Keep in mind that private equity is a long-term career choice, given the long investment cycle.

Hence, many firms do prefer to hire candidates who have the potential and soft skills required to grow in their roles. Generally, what I look out for when hiring other than solid technical skills is: Is the person driven or self-motivated? Does he or she have a passion for investing? Does he or she have good commercial sense? Can he or she connect well with entrepreneurs or have the potential to do so? It would be useful to think of how you can appeal to recruiters with this mindset.

5. Would fresh graduates be considered by private equity firms? If not, what about candidates with at least a few years of experience? What specifically are recruiters looking out for?

Unfortunately, the short answer is that most global firms don’t hire fresh graduates. However, there is no harm in trying your luck with other outfits!

For candidates with prior work experience, we generally prefer those with investment banking or some sort of financial background. Candidates with consulting backgrounds are also considered, but they would need to have some corporate finance exposure. For example, they would have to have worked in the corporate finance division of the consulting firm, or otherwise show that they have personally taken it upon themselves to build their financial modelling skillsets.

As mentioned before, the bottom line is that if you don’t come from a traditional background of investment banking, you will have to show that you have proactively developed the relevant skillsets!

Another obvious but little-heeded advice is to come prepared! You would be surprised at the number of people who have come into interviews with me unprepared. Come prepared to discuss topics relevant to the industry such as fund strategy or current trends in the industry. If you have highlighted certain deals on your CV, be sure to know how to engage the interviewer on the specifics of those deals in a way that is relevant to private equity – from an investor’s point of view.

Speaking of CVs – I would much rather see a few deals in which the candidate has played a significant role in and which he or she can elaborate upon, rather than a list of deals which the candidate may have helped out in one way or another but is unable to dig deep on.

Within investing there are many types of investment strategies such as buyout, growth or venture capital, and each of these asset classes have personality types and skillsets which better suit the particular industry. You need to understand these differences and ask yourself if this (asset class) is something that you are really suited for and position yourself accordingly.

6. How is the lifestyle and work-life balance in private equity compared to when you were practicing law?

Generally, I have much more control over my time in private equity than in law or banking. Lawyers and bankers act as advisors to their client on transactions, so they are bound by timelines predetermined by the client and have to work round the clock to meet them. The general day-to-day in private equity is much more varied, with a mix of origination, execution and portfolio management. Of course, during a live deal, the hours are just as bad whether in Private Equity, law or banking as everyone (whether principal or adviser) is working towards the same finish line.

7. Given the rising trend in outsourcing, do you think that job security in this industry will be a concern?

I don’t think outsourcing will impact private equity the same way as it will impact public market investing. There is just so much human interaction and relationship building required with the entrepreneurs and management teams that you cannot outsource. Even for entry level associates, a large part of their responsibilities include building the business case and returns forecast, which requires them to work with management to understand the underlying data.

8. Many people think that private equity is a very glamourous occupation, and many associate a career in private equity with the notion of carried interest. Is it really what people think it is?

The prospect of carry is definitely attractive as it can amount to a substantial portion of your long-term compensation. That said, I don’t think it should be the main motivation for people looking to enter into the buy side, because in most closed-end funds you only receive carry after the fund winds up (which can take over 10 years). Additionally, it is not automatic – carry vests over a number of years and there can be hurdles and even claw-back provisions affecting carry distribution.

Monetizing carry is a very long-term endeavor and many investors leave their funds before they receive any sort of carry payout. The bottom line is that it’s important to come into the industry with the right mindset and a passion for investing.

9. What is the best part about being in private equity?

What I really love about my job is that I am constantly learning, and that the industry pushes me to be the best that I can be. I enjoy learning about new business models, particularly in technology, the sector I spend most of my time in. I do look at deals across other sectors as well and I enjoy that just as much as it allows me to develop perspectives on how technology can add value to companies operating in more traditional industries.

I also love spending my time interacting with highly capable and passionate entrepreneurs and management teams and strive to be a partner to them.

This pushes me to want to be on top of my game so that I can bring as much value to the relationship as possible to earn their respect and trust.

All in all, being in this industry means that you’re intimately aware of all the developments in the sector. I’ve seen the evolution of technology from being a non-existent sector in Southeast Asia to the booming sector that it is today. It has been really exciting to be a part of that and a real privilege to be able to follow all these entrepreneurs on their journeys.

If you are interested to make a mid-career switch or pursue a career in funds management, do send your queries to ayyaz@fundspartnership.com and we will be in touch shortly!

From Engineer to Asset Manager: Backing the Next Generation of Impact Investors

wow@shazamme.com (Default Author) — Fri, 21 Dec 2018 08:39:47 GMT

An exclusive Funds Partnership Asia interview with Amar Odedra , Director of Asia, Capria , on his journey from mechanical engineering to buy-side, fund admin and back to buy-side again. Discover first-hand insights on what it takes to work in a VC, and the future of impact investing.

1. What’s your career trajectory in a nutshell? How did you end up in the funds industry (in Asia) despite not being formally trained in it?

I actually graduated with a degree in Mechanical Engineering in UK, so all those without a formal background in finance, take heart!

Upon graduation, I worked for a year as a Systems Engineer, which I very quickly realised was not where I was going to stay long-term. As much as I enjoyed parts of it, the niche role meant very little business and commercial exposure – which were roles I valued and wanted to grow more in.

I decided to make a complete career switch and started as an intern at a micro Venture Capitalist (VC) firm, Equity Plus Partners. It was a boutique investment house, and I was helping the sales team of a portfolio company. It was very intense work, but I was very hungry to learn, and within a few months I was offered a permanent role. In the span of one year there, I had a glimpse of life in the fast-paced VC world, and what it meant to support a company any way that added value.

With some experience in sales, I then joined a global fund services group, Augentius to drive their business development. I was focused on EMEA, primarily Scandinavia and UK. My core role was to onboard new fund managers, and support them throughout their fund-raising before they went live.

In 2013, I was asked if I wanted to move over to our newly-opened Singapore office to become the Head of Sales APAC. I jumped at the chance to expand my horizons to the burgeoning Asian markets.

After 4.5 years in fund admin, I had the opportunity to go back to the buy-side, first through Wavemaker Partners , a cross-border VC firm with a focus on Southeast Asia and Southern Californian early-stage firms.

After over two years, I most recently joined Capria , an investor in emerging markets fund managers.

2. So what prompted you to go from buy-side to fund admin and BACK to buy-side again?

I felt I did pretty well so far in fund admin, but if I stayed on, I would just continue doing the same things pretty well, just earning more money. It’s been a theme in my career trajectory so far actually – to continually be exposed to broader aspects of asset management.

Although I knew staying on would mean a comfortable progression in a secure job, I knew something was missing and I would never be truly satisfied long-term.

Ever since my one year stint at a VC, deep down I had maintained a desire to want to go back into an Asset Manager role.

I always had a desire to bring in deals, and working at a VC meant being constantly at the forefront of up-and-coming technology and innovative companies.

When the opportunity to join the buy-side came up, the timing was right for me to switch over! Furthermore, with the rapidly growing opportunities in South East Asia, I knew that it was dynamic and strategic place to work in a VC. As such, I had the conversation with quite a few fund managers and the firm I chose seemed to be the best fit!

Throughout even my sales role fund admin, I realised that I thrived best where there is some sort of relationship-building and deal-making involved. Some level of selling was always part of my core responsibility, and that was consistent throughout all my roles! Although I did oversee aspects of the VC (including deal origination and operations) but one of my primary KPI’s was fund-raising to launch funds, which I enjoyed very much!

3. What were some things that you experienced in fund admin that helped you as a leverage to head back to buy-side?

The complete breadth and depth of understanding of different types of funds, strategies, return profiles, and how a fund actually works.

Surprisingly, when I was back in buy-side, a large share of new fund managers in the VC space did NOT have much knowledge of how a fund operates!

Fund admin firms generally have very good at training, and helped me to understand typical waterfall equalisation, closing process etc. You may not get access to such resources if you have only been in the buy-side.

4. What are the top 3 things that make working in a VC very fulfilling?

The adrenaline rush working with potential LPs (Limited Partners) to analyse on whether an investment would be of interest to them
Working alongside inspiring entrepreneurs – through the process of launching and growing their companies. Although I didn’t get involved in the operations, I would give them guidance via my experiences in sales and make introductions and connections when I can.
VC firms are typically small teams, so establishing and growing a business of our own

5. What would you say for someone who was in fund admin sales and wanted to step into buy-Side?

Definitely interpersonal skills. Most deals are based on relationships and the ability to earn trust and respect. Having the willingness and ability to build good quality relationships isn’t as easy as you think!
Start building a relationship and reputation and amongst LPs. It is so important to build brand presence and thought leadership. I knew that someday I would go back to buy-side, so from day one, I knew I had to leverage my connection with investors. True enough, when I did return, the network I had built and the contacts with investors were essentially the value I brought.

Everyone can invest but not everyone can raise money.

In order to excel as an asset manager, you don’t just need to be skilled as an investor, but I strongly believe you need to have good fund-raising abilities too.

6. What advice do you have for someone who wants to go from fund admin client services to in-house finance?

If you come from the accounting to the to the buy-side, you need to be a good communicator! That is key. You should strive to have a holistic understanding of the fund manager (what are the commercial aspects of the investments, what drive people in the organisation). This will enable you to be able to fit into buy-side and create an efficient relationship with everyone there.

7. How about someone who wants to go from sales into Asset Management? What advice would you give someone from an unrelated industry?

The main criteria or question asked will be “what AUM can you bring to the table?”. You can very quickly start paying for yourself if you bring in money. If you did sales outside of the funds industry, or business development for a start-up it doesn’t matter; the most important would be to have a relevant network!

8. If someone came from fresh grad from entry-level applies, how can they increase their chances of getting in?

1) Have an interest in a particular sector (healthcare, technology etc) or geography, with compelling reasons why

2) Ability to comprehend and analyse a fund manager’s strategy

3) Have a deep understanding of how a fund operates. Fund managers will not see any value in you until they see ROI. If you have a basic background in the framework of how a fund operates, it’s much easier for them to want to hire you to hit the ground running.

Of course, if you have a personal referral or introduction, that would definitely put you at an advantage! A great way would be to have a chat with some of the consultants at Funds Partnership Asia .

9. How is the culture and work-life balance in buy-side compared to fund services?

They are two different worlds. Fund admin is a 9-6 kind of role and it is unlikely you will need to do any work on the weekends or evenings. You can also really expect to be uncontactable on your holiday.

Whereas on the buy-side, based on my experience across the roles, the schedule has been quite ad-hoc! Working hours would be anytime, really – even evenings, or weekends. On holidays, you can anticipate you’ll be getting emails and texts too!

But having said that, because of that you also have a bit of flexibility in managing your own workloads. In general, you need to have a very entrepreneurial mind-set and be self-motivated – not much structure, a lot of autonomy, and it’s up to you to organise your own schedule!

10. Do you have any comments on the trends in impact investing? What kind of opportunities should you look out for?

We’re seeing a rapidly increasing allocation of institutional, corporate, and personal capital towards impact investments. There is also growing momentum from some of the world’s largest asset managers, including the largest, Blackrock.

According to a recent survey by GIIN (Global Impact Investment Network), the amount of impact investment assets under management almost doubled in a single year to $228bn.

Along with this trend there is increasing recognition that investing in impactful businesses does not mean one should expect concessionary returns, in fact, recent studies have shown impact investments to have delivered superior returns.

Our focus is to not only invest capital in great fund managers and funds in emerging markets with a commitment to impact, but to deeply partner with them while bringing them into our deeply collaborative global network.

We’re actively growing our network of funds in Southeast and South Asia, with a current focus on selecting 2-3 new funds in the next few months.

11. What will you look out for in fund managers in impact investing?

a) We look for strong teams with investing and operating experience, a sound investment strategy, and the ability to deliver superior financial returns to investors.Our assessment and selection process is similar to one that any other institutional LP would make.

b) In parallel, we also assess the level of impact which has been delivered to date through their existing investments (if any), together with their ongoing commitment to impact as built into their investment thesis.

12. How do you accurately measure “impact”?

By nature of this region, many fund managers have been making impactful investments without measuring and tracking the scale at which they have been doing so.

Our impact is an aggregation of the impact of each of the underlying funds in our network. We look at impact across three dimensions which include:

Accessibility of Capital in the investment geography: Is there a critical need for capital, would additional capital sources be nice to have but not critical, or would additional capital be supplemental?
Overall development of the market: Is the ecosystem underdeveloped, lacking the infrastructure to support small and growing businesses? Are there incubators, accelerators, service providers, associations, and other resources available to help companies thrive?
End clients/systems: Is there a specific intentional behind the investment strategy of a fund?

For the funds we invest in and work with, we work with them to right size the metrics they are capturing based on the stage of the company they are investing in, aligning them to the latest IRIS metrics and the UN Sustainable Development Goals.

If you are interested to pursue a career in this space (even if you do not have the “right” qualifications), do send your queries to ayyaz@fundspartnership.com and we will be in touch shortly!

Bringing Back Office to the Forefront: Why Fund Admin is the Place to Be

wow@shazamme.com (Default Author) — Fri, 07 Dec 2018 08:45:12 GMT

Join Funds Partnership Asia ‘s exclusive interview with Usman Tariq , Director & Partner, Vistra Alternative Investments. Hear his thoughts on why Fund Administration is an increasingly attractive place to be – both for fresh graduates and mid-career switchers:

1. What’s your career trajectory in a nutshell? What made you relocate to Singapore?

I started my career pursuing a Chartered Accountancy degree in Pakistan, which included a 2-year full time study programme followed by a training in any of the ‘Big 4’ audit firms thereafter. At 21-years of age, I remembered being one of the youngest working in PwC (Karachi office) in 2001 within the Banking and Capital markets division.

Through the foundational 5.5 years auditing for banks and insurance companies, my interest in financial services sector continued to grow. Due to the limited opportunities within the financial services in Pakistan, I knew I had to broaden my exposure beyond. The moment I became a qualified accountant in 2006, I wasted no time in applying for positions in all major global financial centres – New York, London, Hong Kong, and Singapore.

Singapore was the first to open its doors through Deloitte, so I moved to Singapore in March 2007 as part of their Global Financial Services Industry (GFSI) team, auditing Banks, Treasury centres, Fund Administrators and Funds (including Private Equity and Hedge Funds).

After close to 2 years with Deloitte, I was still very much a ‘generalist’ having spent more than 7 years with the Big 4, and I wanted to start focusing on a specialised sub-sector within the financial services industry.

So in 2008, when State Street (ex-Mourant) was just launching its Singapore office, I decided to jump at the chance. Despite being an Assistant Manager at Deloitte, I didn’t mind ‘taking a step down’ and starting as a Senior Fund Accountant so I could deepen my understanding in Private Equity. As part of the Alternative Investments Solutions (AIS) division focusing on real estate, I had the opportunity to work for very big funds such as Blackstone and Merrill Lynch Funds. These 5 years at State Street were pivotal in equipping me both the hard and soft skills in the area of Fund Administration.

In August 2013, Citco offered me a position of Account Manager in their Hedge Fund client service team with a special mandate to take on Private Equity/Real Estate clients and to train the existing staff on Private Equity/Real Estate and the Investran system. By the end of a year and 2 months, I had conducted numerous internal trainings and grew the team substantially. My experience at Citco helped me to build my people management skills. It also made me realise that I was missing my key core-area, being Private Equity and Real Estate Fund Administration capabilities.

And finally in September 2014, through the help of Ayyaz at Funds Partnership , I was approached and offered the role of Head of Fund Services at Vistra (which was known as Orangefield then), focusing on Private Equity and Real Estate. Since then, I’ve spent more than 4 years at Vistra, was promoted as a Director in January 2016 and very recently was offered ‘Partnership’! It’s quite crazy to think that in just over 10 years, I’ve worked for the three major Fund Administrators in Singapore and am now a ‘Partner’.

I find my role very fulfilling and I know that this is where I intend to stay for some time to come!

2. After being in fund administration for some time, what would you say are the advantages of working there compared to the buy-side?

To be honest, the buy-side seemed very attractive and rosy at the start. It seemed like a place of glitz and glamour and an opportunity to earn a lot more compensation and carry.

But when I started talking to my peers who moved to the buy-side, I realised that the grass is always greener on the other side. And this only reaffirmed my decision to remain in the Fund Admin industry.

Here are some reasons why:

1. Speed and Scope of Learning

In fund admin, one day you could be working on a Venture Capital Fund, and the next day, Private Equity! You get exposed to many Fund structures, regulatory updates, new situations and challenges every day. You’d get to work with a variety of clients, industries, and functions.

For example, if you’re an accountant, compared to working in-house, you will do so much more besides just number-crunching.

Yes, you may start off as an accountant, but very quickly you’d go up to senior fund accountant, and then you might start supervising people, which will also include doing interviews, dealing with senior management, and working on efficiency projects.

There’s infinitely so much more you can learn with a service provider that you can’t get access otherwise.

2. Dynamic Culture

Honestly, in buy-side, the culture of your work place can be a hit or miss. For sure, if you work for bigger Fund Managers, you can be guaranteed of a good and diverse culture. But for boutique fund managers just starting out (with one or two employees), the culture is very unpredictable. It very much depends on the mind-set and backgrounds of the team and partners. Due to the lean team size and hierarchy at most times, it is unlikely that you can grow your career and also unlikely that people will have they the time or energy to invest in mentoring you or helping you build your career.

Whereas in fund admin, you can be 99% sure they will have proper procedures and policies that you can fall back on.

There will always be senior team members who can help you grow and develop, and there tends to be more of a dynamic, multi-cultural environment.

3. Global Opportunities

Because of the global presence of most Fund Administrators, you are able to have access to data and skill sets worldwide. For example, you can tap onto your Luxembourg team for regulatory updates, and contact your Cayman colleagues as well. You will start building up an international network, which may give you opportunities to relocate! On the other hand, if you’re in the buy-side, depending on your seniority and company, your opportunities for learning may be limited to your local office or network.

4. Growth and Progression

I think this is one of the major factors that has kept me in this industry for so long – growth!

Because of the way the organization is structured and the rapidly expanding industry, it is not uncommon to move up relatively quickly.

If you look at my growth trajectory, I went from being a Senior Fund Accountant to Fund Admin Manager, to Assistant Vice President, to Head of Fund Services, to Director and now Partner in a span of 10 years. Compare that to a Fund House, where the hierarchy is generally very flat – there is just one associate, one CFO, and that’s it. It is pretty difficult to move up if the senior role is already filled-up, as there are generally no in-between positions.

5. Job Security and Expanding industry

Currently, because there are very limited players – about just 8-10 major Fund Administrators in Singapore – you’d always be in high demand (and constantly poached)!

We are always on a look out for talented individuals – if you do a good job, there’s no reason why you won’t be offered a promotion since we are growing at a fast pace.

However, in the case of working on the buy-side, you never really know how the Funds will perform and there is really no guarantee that you will still have the role in 2-3 years time. What’s more, with an increasing trend towards outsourcing due to cost, expertise and quality considerations – Fund Managers may very well conducting a manpower review exercise, which may mean internal roles may no longer remain in the future.

3. How is the work-life balance and compensation in fund admin?

Compared to working in auditing in the Big 4, I’d say work-life balance is a lot better in a Fund Administrator. For auditors, we typically know between December to May, audit peak period can be crazy. As a service provider, once in a while there will definitely be last-minute requests and you have to stay late during the quarterly reportings.

However, majority of the time, you will have visibility of your timelines in advance. There would be sufficient opportunity to organise your workflow and plan your key events accordingly.

Regarding compensation, if you work in a fast-paced company such as Vistra, you’d be rewarded well and there will be ample opportunities for growth if you prove yourself as a consistent performer – it’s all about you making the most of them!

4. What types of finance skills does one need to enter? Is an accounting degree or specific certification necessary to enter? For a fresh graduate or a mid-career switcher with no prior experience, what do you recommend as the best route to entry?

I would say it’s still really important to have the basic skill-sets in Accounting, along staying up-to-date with major Accounting standards. Once you have that, you can join a Fund Administrator at an entry level and they will teach you the fund-related funky stuff – like carry calculations, equalisations, investor statements etc.

The important Accounting qualifications we look out for are typically ACCA, CPA, ACA. CFA will be a bonus!

Even if you just have a Bachelors’ in business or finance, that’s fine! However, if you are serious in building a career here, you do need to eventually pursue some accounting qualifications. Nevertheless, we are more than happy to provide training to entry-level hires – and then encourage them to sit for their Accounting examinations while working for us.

On the other hand, I started my career with the Big 4 – and it does give you varied experience in accounting/auditing as well as grooming you for client service. It is definitely an advantage if you have such a foundation, coupled with a little bit of Fund industry experience through their audits.

5. And how important are soft skills for the fund admin industry?

Once you have the foundation in place, soft-skills are what will REALLY set you apart:

1. Time Management and multi-tasking

You will definitely have a lot of clashing deadlines and multiple projects happening concurrently so it’s so important to stay on top of your game. Multi-tasking is definitely going to be an asset when dealing with multiple clients at the same time.

2. Relationship Management and Emotional Intelligence

This is something that is often overlooked, but Emotional Intelligence is so important! It is very normal for clients to call and be upset, but how you manage and not crack under pressure is extremely crucial.

You need to be able to remain cool, understand their needs, express empathy and yet be able to stand your ground when necessary.

6. What do you think is the future of the fund admin industry?

Singapore is poised to be the forefront in the Asset Management/Fund Management industry for years to come. With the recent MAS policies encouraging global Fund Managers to set up their shop here and even with S-VACC (Variable Capital Company) structure planned to launch next year, there’s going to be ample opportunities for the whole ecosystem to thrive. As it would be much cheaper and easier to set up fund structures in Singapore, there will be an injection of capital creating growth for Fund Administrators, Auditors, Compliance providers, Outsourced fund managers and other ancillaries.

In conclusion, Fund Administration is a great place to work and build a career in – you’d want to hop on this side of the ship which has definitely taken off and will stay relevant for many years to come! This is an exciting space where you’d get to challenge yourself continuously, constantly learn, and be part of driving a thriving ecosystem within the Asset Management sector.

If you are considering pursuing a career in fund administration or would like to know more about opportunities in the funds industry, do send your queries to ayyaz@fundspartnership.com and we will be in touch shortly!

Bringing Sexy to the Back (Office): Why I Left Buy-Side for Fund Admin

wow@shazamme.com (Default Author) — Fri, 30 Nov 2018 08:49:20 GMT

In this exclusive behind-the-scenes by Funds Partnership Asia , we hear from Edwin Hoi , Head of Real Assets Fund Services at Citco on his unusual career trajectory, and why he thinks fund admin is the hottest new place to be, and what skill-sets you need that will give you an edge above your peers:

1. What’s your career path in a nutshell? Why did you enter the buy-side front office for a while and then leave?

Well, I intentionally planned my career in such a way that it would give me the full end-to-end spectrum of what it means to become a finance professional.

I started my career as an auditor in KPMG before joining the real estate sector in Australia as an accountant across various property trusts.

Although I never had the intention to become a partner in an accounting firm, but I must say accounting was the perfect entry point to REI. Property is definitely my favourite asset class (you can see, feel and touch it). Accounting gave me a solid foundation in financial control, managing external parties, and organisations, which definitely set me up to move onto the buy-side.

I finally stepped into the “elusive” world of Investment Banking and Asset Management while at Macquarie Bank in Australia. I was curious and wanted to get a foot into that part of the value-chain. It did equip me with the fundamentals of good financial modelling, and definitely sharpened my business acumen.

Why did I leave? Well, front office is all about sales, which oftentimes is about personality as well. While I was alright with pitching and running models, selling wasn’t exactly my CORE skill. I wasn’t in my full element as the sales person.

Over time, I realised I was much better as a problem solver – putting frameworks and controls around things. That was definitely more my cup of tea. I had a taste of what the buy-side was like, and I realised I’ll be better as a CFO-type of person.

Most recently, I spent 8 years in Standard Chartered Bank – initially managing the accounting and finance function of the Private Equity and Alternative Investment division, and then later as the CFO for Property comprising the Bank’s owned and occupied portfolio.

2. You now work for Citco, a market leader in fund administration. What influenced your decision to shift to fund administration?

To be honest, I didn’t actually actively pursue or search out this role at Citco, but my current boss saw that my past experiences positioned me as an ideal candidate for the job and sought me out. For example, at Standard Chartered, I managed the financial aspect of a global outsourcing project and understood the importance of building a strong partnership with any service provider.

Being able to understand clients’ point-of-view will definitely give you the vantage point to also see from the provider’s POV too.

In general, there are 3 “Ps” I look out for in any job – regardless if it’s a “fund admin” or buy-side role, I would assess it objectively based on:

1. Product

2. Plan behind the Product

3. People who execute the Plan

a) Product: As outsourcing was booming, it was definitely enticing – full of potential and not at all dead or static. Furthermore, the work was more strategic rather than administrative – allowing me to harness my underlying skill-sets to optimise and motivate the team

b) Plan: At that point, there was need to ramp up on a massive scale, rapidly. The focus was all about growth – which is way more rewarding than just number-crunching. It was all about seeing yourself as a business partner, solving problems both for the clients and even to internal stakeholders

c) People: My boss is really one-of-a-kind! When I was still considering the role, she continued to relentlessly hustle and hunt me down. She shared her vision for the company and the role I had in it. We have a great culture – very flat hierarchy where every one is valued for their unique skill-set and opinions. That definitely sealed the deal for me!

3. It seems that people have an impression that back office is mundane, repetitive and unexciting, but your experience seems to be very much the opposite. Would you say that is representative of the fund administration industry?

The landscape is changing such that fund administrators are becoming increasingly integral to our clients’ business and their daily operations. We aren’t just an outsourced partner or a peripheral function anymore.

Family offices and private equity funds consist of very lean teams that will aim for efficiency both in processes and costs.

So the fund administrator is now their expertise consultant! Whenever there is an impending deal, our clients would call us up – and we would work very closely with them to advise on the terms, accounting and operations.

It’s all about client relationship management, problem-solving, and aligning to their needs. Given that outsourcing will become more prevalent, being involved at such a strategic level may be rare at an in-house firm, which may not want to hire at such junior levels.

I would recommend fresh graduates to find a big player in fund administration and get the full-suite of experience – accounting, control, financial control across a variety of clients. Auditors only ever get to dabble in such things after 10-15 years in the industry. But here, you will get a much fuller experience even in a junior role.

For example, even though Citco is currently 60-years-old and definitely a pedigree brand, but it’s been constantly evolving in the last 2-3 years to meet the demands of the market.

So, it’s definitely not boring – you decide how much as you want to get out of it.

4. In what situations would you would recommend in-house Fund Accountants to make a switch to Fund Administration?

There’s going to be a mind-set shift, especially if they have done it for a long time.

As they might be used to managing one client, suddenly needing to multitask may come as a shock. Another thing is having to deal and manage expectations of external stakeholders instead of internal ones which essentially means many things are out of your control. On the other hand, it is sometimes easier to draw boundaries with external stakeholders.

Personally, when I was in Standard Chartered, it was pretty tough having to negotiate internally with various CFOs, so switching over to fund admin wasn’t a problem. If you don’t mind a fast-paced, fluid environment having to deal with many stakeholders, you’ll fit in just fine! For people who like things who are cast in stone, they will find the flat hierarchy challenging.

5. What do you think is the future of the fund admin industry? What is an increasing trend that you’ve noticed based on your clients?

It’s going to be a very exciting space in the next 5-10 years! Currently, 20-25% of real estate private equity funds globally are outsourced – and it’s only going to grow exponentially from here! Accounting is just one element, while investor relations is another. I foresee there’s going to be a lot more demand for KYC, AML and compliance roles in the near future.

Also, role of the fund administrator as strategic business partner will only be on the rise. There will be more sophisticated, larger clients that will want to form administration partnerships.

6. What is the work-life balance in fund administration compared to buy-side?

Honestly, I wouldn’t have thought it to be as crazy as the buy-side – but I think it’s comparable. It all depends on your manager, and the culture of the organisation. There’s a lot more perks in terms of being able to learn more diverse skill-sets across various best of breed clients. For one, compared to the buy-side, we are not bound by individual company specific constraints – but have the liberty to initiate and make various improvement suggestions to our client and therefore always trying to add value where we can.

We are mostly based in the office, however, I constantly encourage my managers to constantly network and mingle with their counterparts on the client’s side as well beyond their desks.

As for my team, I make sure that everyone is off by a reasonable hour. I don’t need bums on seats for 8 hours a day – I don’t believe in having such an environment where you have to pretend to stay at work until your boss leaves.

My priority to my team is, “tell me how I can make your life easier?”

7. And what about the compensation? Does it differ drastically from those in the buy-side?

For sure, the bonuses are not anywhere near to the buy-side, however, our base salaries are higher. There’s less of chance of drawing huge bonuses, but there’s also substantially less risk in terms of job security for sure. So in my view, it all evens out in the end. But gone are the days when it was 30% lower than anyone else. It is very comparable to all other roles in the finance industry.

8. What are the exit opportunities for those working in this space? Is it just to get into buy-side, or progress within the industry?

I believe there are plenty of transferrable skills after being in this space. You’re going to be highly sought-after and can pretty much land a job anywhere because you understand applications across the full spectrum. Some work here for 5-7 years, and then go on to the buy-side, or governance.

An edge that fund administrators have would be excellent client management, adaptability in negotiating with external stakeholders.

The other thing is this – you are the business. You are not just supporting the business.

In the buy-side, you may never get to be the one making deals unless you’ve reached a certain seniority. But in fund administration, you are the revenue generator.

For sure, there are people poaching some of the members in my team, I guess it’s actually a problem that everyone has to deal with especially if they have built a high performing team!

9. What types of soft skills or traits would be ideal in Fund Admin? What would you look out for when hiring?

a) Inquisitive and creative

Try to work out a solution and not just present the problem! To excel in this industry, you’d need to know nobody is going to spoon feed you with the answers – but if you have a growth mind-set and an attitude to learn, you’ll find a way. Being inquisitive is so important – not taking no for an answer, exploring creative solutions and out-of-the-box ideas, and thriving when crisis arises.

b) Not be afraid to speak up and challenge the norm

One of my core philosophies is to encourage people to be outspoken. I know it’s quite rare in an Asian context, but we really cannot afford to be passive or beat-around-the-bush in this fast-paced industry. I’d notice those that challenge the status quo and are able to thrive in a dynamic environment where they can leverage the flat hierarchy to make a real difference.

c) Not entitled and willing to fail

One small note for millennials: don’t be entitled! You need to learn not to be offended or feel jaded when things don’t go your way. And if you haven’t encountered failures or set-backs before, then get ready because you will definitely face it here.

You need to expect that things WILL go wrong, and you will make mistakes – but it’s about how you manage that failure that defines you as a person .

There will be lots of unpredictability in this industry, and you will not be able to control everything, but are you going to rise above it? Or just wallow in your sorrows?

10. What about fresh graduates with no prior experience? What would the best route-to-entry be?

I’m very happy to groom fresh graduates in accounting or even business with no work experience! Our managers are trained to really mentor each individual in their unique own career paths, even beyond fund admin. Honestly, I do prefer investing in great talent early-on and see them progress, rather than hire externally for a more senior position as these senior talents are much harder to come by.

If you are keen to find out more about working in the fund administration industry, whether you’re a fresh graduate or mid-career switcher, do check out Funds Partnership Asia or send a query over to ayyaz@fundspartnership.com .

CRAZY RICH ASSET MANAGERS: How I Entered Private Equity without the “Right” Qualifications

wow@shazamme.com (Default Author) — Fri, 16 Nov 2018 08:52:49 GMT

An exclusive interview with Barbara Riedijk , Director Business Development & Strategic Marketing at Hector Capital Partners. Find out how she navigated her way into the elusive world of buy-side finance through an unlikely and unusual route:

1. What was your journey like before joining Private Equity (PE)?

I grew up in the Netherlands, studied fashion in London. In a pivotal moment in 2011, I flew from UK to Singapore with just two luggage bags and no job. After immersing myself in some short-term business courses, I started my first business, VIP Experience.

It was a concierge business in December 2011, facilitating expat networking. That’s where I gained experience in both B2C and B2B marketing, Public Relations (PR) which led me to start Kala Club in 2013 – where we curated a range of events with unique concepts for the like-minded urban community.

Two years later in 2015, I opened a pop-up store at the local Winter Wonderland to sell Dutch pancakes. What started off as was a passion project started making a lot of money (more than $100k in the first year!) and it became a full-fledged business, All Things Dutch.

After five crazy years of venturing out on my own, I felt I needed a change – although I did not quite know what that would be. By then, I had amassed quite a network in Singapore and was well-acquainted with several industry leaders.

One day, as I was walking out of my office, someone approached me. His name was Vikash Kumar and his office was situated on the same floor. It turned out that he headed a PE firm, Hector Capital , which invested private companies in Southeast Asia, South Asia and USA specializing in consumer-related companies.

We struck up a conversation and he told me he was actively on the look-out for promising start-ups and was keen to invest in me “I’ve heard quite a bit about you and must say I’m pretty impressed with how quickly you grew both your businesses through your networking and growth-hacking capabilities”

But then he then surprised me with another proposition: “Actually, I think your entrepreneurial skills and connections would be a great asset to the PE industry. You’d be the perfect person to do business development for my firm – would you be up for the challenge?”

It didn’t take me very long to think it over, and that’s what kick-started my journey into private equity, with Vikash as my current boss.

2. What was your experience like entering the PE industry without any “technical” qualifications?

The first three months was super intensive – it was a crash course in understanding numbers, balance sheets, and term sheets. I had to learn on the job and honestly it was quite frustrating as I did not have the “traditional MBA school” foundation that many others did. Some people were rude, others tried to step all over me, but I realised that it was all part-and-parcel of the learning curve.

It did help that I had some basic background in numbers when running my own business – such as filing my own taxes, balancing P&L sheets, and doing some personal trading. Nevertheless, I had to be willing to ask for help – either online, or from contacts in the industry to fill in the gaps.

However, I’d say what really made my boss want to hire me was my personal connections and also an injection of creativity, which was sorely lacking in the PE industry. It required a lot more entrepreneurial and relationship-management skills, compared to investment banking or trading.

It’s not just about numbers but it’s also about public relations, connections, relationship-management and networking abilities.

Also, it’s vital to have good chemistry with your boss – someone who is patient and willing to mentor you, have your back, while still giving you autonomy. I’m really grateful to my boss for giving me that space to grow.

3. What advice would you give someone who doesn’t have any finance background? How can they prime themselves to enter this industry?

You still need the foundation – there is plenty of free information online to grasp the basics such as term sheets, excel skills, and valuation techniques. It’s also crucial to analyse case studies to train your business acumen.

But beyond that, I think it’s important to ask yourself: what can you bring to the table that someone else can’t? How can I value-add or represent the company in a way that no one else can?

Using my case as an example, what I brought in was my interpersonal skills in relationship management, along with extensive connections accumulated throughout the years. As a result,

I was bringing in deals – directly and indirectly – through leveraging contacts that they never had before. I would’ve never got these kinds of contacts if I had been in the finance space all along!

The foundation is important, but if you are willing to work hard, leverage your Unique Selling Point, and be wiling to learn, then it doesn’t mean you necessarily need a finance background.

4. How is the lifestyle and work-life balance in PE compared to previously when you had your own business?

When you’re running your own business, you don’t have any work-life balance!

I never had the desire to go to PE previously. To be honest, it’s because I really admired the person that I was going to work for. I took up the job more for mentorship opportunities nnd an opportunity to stretch my capabilities. It made me want to work harder to learn about the ins-and-outs of this industry.

Coming from an entrepreneur’s perspective, I knew that there was constantly a need to look for investors. However, I never knew what an investor really looked out for, and the real reasons why startups get funding or not. But it’s been really insightful discovering the other side of the coin and all the unspoken factors that are taken into consideration.

5. What tips do you have for someone who does not have any personal contacts in the industry and wants to apply traditionally?

It was fortunate that I had my own personal contact – but I know that might not be case for most people. A piece of advice – besides just sending in your CV like the rest of the world, they should showcase their creativity and determination in some way or another! I don’t care what it is – sending over a dongle, hand-writing something or delivering it to the office… just do anything that’s more exciting than just applying online!

When interviewing people for my own company, it is 50% of “do I actually like this person?” and the other 50% was “do I really believe this person has the passion to deliver?”

Another approach would be to get in touch with a recruitment consultant that is specialised in this space to assess your strengths and experiences and match you with a suitable role and company in the PE industry. I’ve had a great experience working with Funds Partnership Asia, a specialised recruitment boutique for the investment management industry.

It’s really about the survival of the fittest. If you really want it, you will get it.

6. What’s the most fulfilling thing about working in PE?

As cliché or superficial as it sounds, honestly: IT’S THE MONEY

It’s the thrill buying something at a low price and selling it at a higher price. You buy something that’s broken, you fix it and sell it.

It is incredibly inspiring when you’re investing into a company to save it, or increasing its revenue – you get a huge kick out of it.

Also, when you set up your own business, it’s your baby and you’ll be very protective about it. But when you start doing PE, you naturally become more objective and sharp in your business acumen- you see what works and what doesn’t.

7. What are your next steps?

I’m currently exploring setting up an office for Hector Capital in Dubai to oversee the Middle East and European office while working offshore from Europe.

Regardless, I will always stay connected in PE. If I ever need investments, now know a lot of good people in my network! It’s provided me invaluable experience, and I will definitely use these skills for the rest of my life.

8. Do you think this industry is for everyone?

This industry isn’t for those who want a typical cushy office job where they can go home at 6pm everyday.

Also, being a woman in a male-dominated industry, I’ve realised the importance of standing up for yourself – otherwise it’s very easy to get trampled on in such a cut-throat environment.You need to be confident of who you are and why you add value.

Everyday I constantly ask yourself: i s what I want? And when you have that conviction, you will find all kinds of ways to make it work.

9. Who will you look out for when hiring now for your firm?

I would definitely look out for passion and determination – how much a person really wants it would determine their success and how long they can survive. For example, if they mention that they resent doing overtime work, I will never hire them. Private equity is not a short-term sprint – it’s sometimes a marathon.

You also have to be self-motivated and independent. I am happy to mentor, but I have no interest nor time to babysit someone who has no initiative.

Of course, they also need to have the basic skills – to be able to read graphs, do math and written. But more than that, if they are willing to be groomed, are teachable and are passionate, they will definitely stand out to me!

If you are interested to speak further with Barbara on investment advisory, industry trends, or if you are considering pursuing a career in this space (even if you do not have the “right” qualifications), do send your queries to ayyaz@fundspartnership.com and we will be in touch shortly!

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FP Global acquires ML Sense

SINGAPORE, 26 FEBRUARY 2024 – FP Global, a strategic recruitment consultancy firm, has announced the strategic acquisition of ML Sense , a London-based data strategy consultancy firm, in a move to align its services with the evolving demands of the AI-driven workforce.

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Three Talent Must-Haves for Hedge Funds & Asset Managers This Chinese New Year

As Chinese New Year approaches, many leaders in Hong Kong and Singapore’s hedge fund and asset management space are looking ahead to a fast-paced, transformative 2025.

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Navigating 2025: How Financial Leaders in Hong Kong & Singapore Can Secure Essential Talent—Without the Stress

Leading a financial institution in Hong Kong or Singapore? You’ve likely felt the mounting pressure.

Between digital banking, new regulatory frameworks, and ESG requirements, it’s easy to feel overwhelmed.

If you’re asking, "Where do I find the specialised talent I need for tomorrow—while managing today's demands?" you're not alone.

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Strategic Hiring in 2025: Aligning Talent with Vision

As the financial landscape continues to evolve in 2025, one thing is clear: hiring the right talent isn’t just about filling roles—it’s about aligning people with your organisation’s vision and long-term strategy.

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Hiring Challenges Facing the Financial Industry in Hong Kong and Singapore in 2025

Beyond the headline challenges of economic growth and geopolitics, several overlooked issues could significantly impact Hong Kong and Singapore’s financial sectors this year.

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Talent is King (and Queen) in Alternatives: Insights from the 2024 EY Global Alternative Fund Survey

I recently attended the 18th EY Singapore Alternative Fund Symposium on 15 January 2025. The symposium featured various panels, fireside chats, and presentations from industry leaders, covering a wide range of topics relevant to the alternative investment sector in 2025.

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Why Financial Firms in Hong Kong Should Use Recruiters

Hong Kong remains a thriving hub for global financial markets, and as we move into 2025, its dynamism is undeniable.

As a recruitment consultant, I’ve seen firsthand how the right talent strategies can shape success in this fast-paced industry. ﻿

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Game-Changers in Real Estate: Trends Shaping the Future of Investment in Asia

The year 2024 has seen the Asian real estate market undergoing major changes, influenced by changing economic conditions, a rising focus on sustainability, and the market's shifting dynamics.

Why Culture Fit Matters for Long-Term Success

Whether it’s a boutique firm or a large MNC, I’ve seen firsthand how essential culture fit is for long-term success.

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Shaping the Future of Medicine: Top Healthcare and Pharmaceutical Trends

Innovations in technology, evolving patient expectations, and global challenges are driving rapid transformations in the healthcare and pharmaceutical sectors, leading private equity firms to focus on investing in businesses that will shape the future of medicine.

Malaysia's Budget 2025: Big Opportunities, Bigger Talent Challenges?

With RM1 billion set aside for local talent development and a whopping US$16.9 billion in investments attracted from global giants, Malaysia is positioning itself as a major player in the tech and digital space.

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Private Equity in Healthcare: Key Trends Shaping the Future of the Industry

Private Equity (PE) firms have become significant players in the healthcare industry, a sector that is evolving rapidly due to technological advancements, regulatory changes, and shifting patient expectations.

Bringing The Global Team Together! | FP Global's Town Hall 2024

At FP Global, our motto, "Impacting Individuals, Empowering Economies" is more than just words—it's our guiding principle.

This spirit shone brightly at our recent town hall, a dynamic 2-day event that united our global family from Dubai, the Philippines, and the United Kingdom.

It wasn’t just any meeting; it was a lively celebration of teamwork, laughter, and growth!

A Global Reunion Like No Other

"An investment in knowledge pays the best interest." - Benjamin Franklin

Laughter, Memories, and the Dream Team Spirit

Let's Make an Impact Together

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FP Global is on WeChat!

Stay in the know with us on WeChat! ﻿

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Singapore's New Guidelines for Flexi-Work Arrangements (FWA) Explained

Interestingly, someone I personally know has created this comic explaining the new Guidelines for FWAs.

﻿ This FWAs was announced last Tuesday, 16 Apr 2024, by both the TAFEP Tripartite Alliance for Fair and Progressive Employment Practices Workgroup and the Ministry of Manpower (MOM).

Conclusion

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Should you accept a counter-offer from your current employer?

Let's explore the pros and cons of a counter-offer:

Pros

Cons

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Permanent perks or Contract freedom? Find out which position best aligns with you!

When considering whether to pursue a contract or permanent position, it often depends on individual circumstances, career goals, and personal preferences.

Here are some factors to consider for either position:

Permanent Position

Contract Position

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Exploring Common Jobs Managed Through Employer of Record (EOR) Arrangements: A Comprehensive Guide

Employer of Record (EOR) arrangements allow for the management and execution of a diverse array of jobs in different sectors.

﻿ The main role of an EOR is to serve as the official employer for workers hired by a company, taking care of administrative duties such as payroll, benefits, taxes, and compliance, while the client company maintains authority over the employees' daily responsibilities and supervision.

Here are some common roles FP Global has assisted our clients via the EOR model:

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Understanding Staff Augmentation: A Strategic Approach to Scaling Your Workforce

In the current rapidly evolving business environment, the ability to adapt and grow in size is crucial for achieving success. With market demands constantly shifting and project needs changing, companies require flexible solutions to meet their staffing requirements effectively.

Staff augmentation has become a strategic method for organisations to expand their teams efficiently and remain agile.

This article explores the concept of staff augmentation, its advantages, and its comparison to the traditional talent acquisition strategy.

Explaining Staff Augmentation

The Value of Staff Augmentation ﻿

Is staff augmentation the way forward?

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Understanding the Role of Employer of Record: A Strategic Solution for Modern Businesses

In the fast-paced world of business today, companies face a range of obstacles as they work to comply with labour regulations, manage risks, and run their operations smoothly. To address these challenges, many businesses are turning to the concept of an Employer of Record (EOR) for support.

As a recruitment consultant, I’ve seen firsthand how the right talent strategies can shape success in this fast-paced industry.

Stay in the know with us on WeChat!

This FWAs was announced last Tuesday, 16 Apr 2024, by both the TAFEP Tripartite Alliance for Fair and Progressive Employment Practices Workgroup and the Ministry of Manpower (MOM).

The main role of an EOR is to serve as the official employer for workers hired by a company, taking care of administrative duties such as payroll, benefits, taxes, and compliance, while the client company maintains authority over the employees' daily responsibilities and supervision.

The Value of Staff Augmentation

As organisations seek to stay nimble and effective, it is essential to grasp the significance and advantages of utilising an Employer of Record.

Let's delve into this question and the broader discussion about salary disclosure in the recruitment process.

Attention Tax Managers and Tax Agents!

The new tax law in the United Arab Emirates (UAE) regarding corporate tax includes the following key points that you MUST know:

Following up from our previous post where we shared key trends within the fund management industry, here are some potential trends that could occur within the invest ment industry for 2023: