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<h3>Hong Kong-based multi-issuer platform Goldhorse has named a former EFG Bank executive as new CEO.</h3>Edward (Chengen) Liu (pictured) has been appointed as deputy chief executive officer (CEO) of Goldhorse Capital Management (HK) with responsibility for the entire business operation. according to a spokesperson at the company.He replaces Long (Kalong) Lee, former CEO of Vontobel Limited, the financial products arm of Vontobel Holdings based in Hong Kong SAR.<figure id="figure-u1a1ma5b3m0kdxcmc" class=""><img id="u1a1ma5b3m0kdxcmc" src="https://cdn.durable.co/blocks/2dZqO0W3neduykRP5wPhi1T9AdmAO86dRXTf5O9C6jYAe846E5VuSQ7IvyqAddgj.jpg" alt="Mid aged business man working on laptop computer in office writing notes." title="Mid aged business man working on laptop computer in office writing notes." class="object-cover bg-gray-100" style="aspect-ratio: 1/1; object-position: undefined undefined;" data-corners="default" data-aspect="1:1" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/2dZqO0W3neduykRP5wPhi1T9AdmAO86dRXTf5O9C6jYAe846E5VuSQ7IvyqAddgj.jpg" data-mce-style="aspect-ratio: 1/1; object-position: undefined undefined;"></figure>Lee stepped down at the end of February, but remains as a director of the board and an advisor at Goldhorse. Apart from that, he will retire from the finance industry and focus on serving a non-profit organisation (NGO).Besides Liu and Lee, Wenwei Huang, director of business development, acts as another director on the board at Goldhorse, according to the Hong Kong government-run companies registry.The ten-year old private company, which is fully owned by Goldhorse Capital (BVI), launched Extramile at the end of 2020. The cloud-based platform is designed to act as an independent intermediary connecting structured note issuers with external asset managers (EAMs), private banks and brokerage firms.In 2023, approximately US$2 billion structured note notional was traded on Extramile where over 100 contracted EAMs and 15 issuers were present. "Extramile continues to evolve with new functionalities being introduced, such as marketplace and community forum," said the spokesperson, adding that "a few more issuers" are expected to onboard this year.SRP learnt that the company is also developing Extramile Pro, a dedicated version for clients that have distribution agreements with issuers. The spokesperson declined to provide details on Extramile Pro as "the roadmap and timing of roll-out have not been finalised".<img id="s8rwecaz9im0kdw8pi" src="https://cdn.durable.co/blocks/23BGJFN4FNpwPLqd5HBx39xglcSeuI6Hgrdffsu9ZgZdfIws1LFTJeu1mmW52Vgl.jpg" alt="Umbrella icon and family model, Security protection and health insurance. The concept of family home, protection, health care day, car insurance." title="Umbrella icon and family model, Security protection and health insurance. The concept of family home, protection, health care day, car insurance." class="object-cover bg-gray-100" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/23BGJFN4FNpwPLqd5HBx39xglcSeuI6Hgrdffsu9ZgZdfIws1LFTJeu1mmW52Vgl.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;" style="border-color: rgba(229,231,235,var(--tw-border-opacity)); --tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-pan-x: ; --tw-pan-y: ; --tw-pinch-zoom: ; --tw-scroll-snap-strictness: proximity; --tw-gradient-from-position: ; --tw-gradient-via-position: ; --tw-gradient-to-position: ; --tw-ordinal: ; --tw-slashed-zero: ; --tw-numeric-figure: ; --tw-numeric-spacing: ; --tw-numeric-fraction: ; --tw-ring-inset: var(--tw-empty,/*!*/ /*!*/); --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgba(62,172,255,.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; --tw-blur: var(--tw-empty,/*!*/ /*!*/); --tw-brightness: var(--tw-empty,/*!*/ /*!*/); --tw-contrast: var(--tw-empty,/*!*/ /*!*/); --tw-grayscale: var(--tw-empty,/*!*/ /*!*/); --tw-hue-rotate: var(--tw-empty,/*!*/ /*!*/); --tw-invert: var(--tw-empty,/*!*/ /*!*/); --tw-saturate: var(--tw-empty,/*!*/ /*!*/); --tw-sepia: var(--tw-empty,/*!*/ /*!*/); --tw-drop-shadow: var(--tw-empty,/*!*/ /*!*/); --tw-backdrop-blur: var(--tw-empty,/*!*/ /*!*/); --tw-backdrop-brightness: var(--tw-empty,/*!*/ /*!*/); --tw-backdrop-contrast: var(--tw-empty,/*!*/ /*!*/); --tw-backdrop-grayscale: var(--tw-empty,/*!*/ /*!*/); --tw-backdrop-hue-rotate: var(--tw-empty,/*!*/ /*!*/); --tw-backdrop-invert: var(--tw-empty,/*!*/ /*!*/); --tw-backdrop-opacity: var(--tw-empty,/*!*/ /*!*/); --tw-backdrop-saturate: var(--tw-empty,/*!*/ /*!*/); --tw-backdrop-sepia: var(--tw-empty,/*!*/ /*!*/); --tw-transform: translateX(var(--tw-translate-x)) translateY(var(--tw-translate-y)) rotate(var(--tw-rotate)) skewX(var(--tw-skew-x)) skewY(var(--tw-skew-y)) scaleX(var(--tw-scale-x)) scaleY(var(--tw-scale-y)); --tw-border-opacity: 1; --tw-filter: var(--tw-blur) var(--tw-brightness) var(--tw-contrast) var(--tw-grayscale) var(--tw-hue-rotate) var(--tw-invert) var(--tw-saturate) var(--tw-sepia) var(--tw-drop-shadow); --tw-backdrop-filter: var(--tw-backdrop-blur) var(--tw-backdrop-brightness) var(--tw-backdrop-contrast) var(--tw-backdrop-grayscale) var(--tw-backdrop-hue-rotate) var(--tw-backdrop-invert) var(--tw-backdrop-opacity) var(--tw-backdrop-saturate) var(--tw-backdrop-sepia); --tw-bg-opacity: 1; width: 640px; margin: 0px; padding-top: 0px; padding-bottom: 0px; caret-color: rgba(0, 0, 0, 0); aspect-ratio: 16 / 9; object-position: center center;">Extramile adds to the existing multi-issuer platforms Contineo and FinIQ which have a strong presence in Hong Kong SAR and Singapore, but is licensed by the Securities and Futures Commission (SFC) of Hong Kong to carry out Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities with a main client target of EAMs.Lee joined Goldhorse as CEO from Vontobel in October 2020 with key responsibility to spearhead the Extramile, which supports lifecycle and sales management, record keeping, research reports as well as product advisory. His role at Vontobel has filled by Urs Pfister who was previously head of trading and public distribution, Asia.Lee joined Vontobel in early 2018 in charge of the structured products business in Asia Pacific (Apac) before taking up the CEO role in January 2020. Previously, he spent more than seven years at Leonteq following a stint at BBVA and BOC International, based in Hong Kong SAR.Liu, the new CEO of Goldhorse, joined the platform as head of investment services in November 2020. Prior to that, he was managing director, head of investment counselling, North Asia at EFG Bank where he led initiatives to build out the investment advisory franchise at the Hong Kong branch since August 2017.Liu also specialises in structured products, particularly across equity and fund, with over-a-decade service across CICC (Hong Kong), Noah Holdings (Hong Kong), Credit Suisse (Hong Kong) and Barclays Capital (Asia).Sitting in the wealth management unit, he constructed product advice to investment consultants across bonds, structured products, over-the-counter (OTC) derivatives, traditional funds, alternative investment and China cross-border products at CICC (Hong Kong), the offshore arm of Chinese investment bank CICC.Additionally, he was tasked to execute structured products and OTC derivatives trades while maximising transactional revenue.At Credit Suisse, Liu structured and marketed fund-linked and cross-asset algorithmic index-linked derivatives to financial institutions as well as fund-related financing solutions in Asia Pacific ex-Japan from May 2007 to December 2012.-Do you have a confidential story, tip or comment you'd like to share? Write to <a href="mailto:summer.wang@derivia.com" data-mce-href="mailto:summer.wang@derivia.com">summer.wang@derivia.com</a>. Source: <a title="Asia multi-issuer platform appoints new CEO" href="https://www.structuredretailproducts.com/news/details/79841" data-mce-href="https://www.structuredretailproducts.com/news/details/79841">Asia multi-issuer platform appoints new CEO</a>

Exclusive: Asia multi-issuer platform appoints new CEO

Business network concept. Teamwork. Partnership. Human resources.

HONG KONG, Feb. 23, 2023 /PRNewswire/ -- Hong Kong-based fintech company Goldhorse Capital Management (HK) Limited ("Goldhorse Capital") today announced it is supporting KGI Asia Limited ("KGI Asia") to strengthen its provision of structured products and wealth management solutions.By understanding clients' goals and unique aspirations, KGI Asia analyses the overall situation and recommends strategic asset allocations throughout all stages of their lives. Combining bespoke services and investment insights, KGI Asia Sage, targets to provide clients in Asia with wealth management needs. Extramile further empowers KGI Asia's professional team's ability to offer unrivalled structured products solutions based on clients' need anytime, anywhere.<blockquote>"KGI Asia is committed to providing better wealth management services to our clients, and structured products is an important part of our wealth management portfolio," said Kevin Tai, Head of International Wealth Management of KGI Asia. "Through our partnership with Goldhorse Capital, we hope to further enhance the variety, depth and breadth of our structured products solutions for our clients."</blockquote>"Goldhorse Capital is very proud to be chosen by KGI Asia as their partner in fintech." said Long Lee, Chief Executive Officer of Goldhorse Capital. "Extramile is an industry-leading, efficient, scalable and cost-effective solution, we look forward to supporting Sage to achieve the 4Es – Exclusivity, Expertise, Effectiveness and Extraordinariness. This partnership with KGI Asia is another important vote of confidence by leaders in the private wealth management eco-system in APAC, in our innovation as well as the value of the Extramile Community."<figure id="figure-lb700mknd6m0kr7t3t" class=""><img id="lb700mknd6m0kr7t3t" src="https://media.gettyimages.com/id/1465173464/photo/business-network-concept-teamwork-partnership-human-resources.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=ImJ_tj3u6pXSR79T7l3QgAt9Ek10Cr3hmV1nY7PS9Gw=" alt="Business network concept. Teamwork. Partnership. Human resources." title="Business network concept. Teamwork. Partnership. Human resources." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://media.gettyimages.com/id/1465173464/photo/business-network-concept-teamwork-partnership-human-resources.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=ImJ_tj3u6pXSR79T7l3QgAt9Ek10Cr3hmV1nY7PS9Gw=" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>About Goldhorse Capital Management (HK) LimitedGoldhorse is a unique and leading financial products platform provider found and based in Hong Kong. The Company is licensed by the SFC to carry out Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities, allowing it to offer a true fin+tech solution to both the buyside intermediaries and the product suppliers in the High-Net-Worth market. Through Extramile, Goldhorse delivers multi-issuers RFQs, encrypted dealing process, and automated post-sales life cycle management solution into the hands of decision makers at Private Banks, Brokerage Houses, and External Asset Managers. Unbiased product education as well as tri-lingual local technical support are as well very valuable proposition to our clients, to enhance the way they service their end-clients.For more information, please visit <a href="http://www.goldhorse.com.hk" data-mce-href="http://www.goldhorse.com.hk">www.goldhorse.com.hk</a>. About KGI Asia LimitedKGI Asia is one of the region's leading financial brand since 1997. Our scope of business compasses brokerage, wealth management, investment banking, fixed income, and asset management. We are committed to offering a broad range of financial products and services to corporate, institutional, and individual clients throughout Asia. Backing by KGI Securities Co. Ltd. and China Development Financial Holding Corporation in Taiwan, we have a robust Asia footprint covering Taiwan, Hong Kong, Singapore, Indonesia, and Thailand. KGI Asia Limited attained a BBB+ rating by Standard &amp; Poor's and received the "Private Wealth Management Award" at the 2022 Corporate Brand Awards of Excellence organized by the Hong Kong Economic Journal.For more information, please visit <a href="http://www.kgi.com.hk">www.kgi.com.hk</a>. Source: <a title="KGI Asia Sage leverages Extramile to craft extraordinary wealth solution" href="https://en.prnasia.com/releases/apac/kgi-asia-sage-leverages-extramile-to-craft-extraordinary-wealth-solution-393936.shtml" data-mce-href="https://en.prnasia.com/releases/apac/kgi-asia-sage-leverages-extramile-to-craft-extraordinary-wealth-solution-393936.shtml">KGI Asia Sage leverages Extramile to craft extraordinary wealth solution</a>

KGI Asia Sage leverages Extramile to craft extraordinary wealth solution

HONG KONG--(BUSINESS WIRE)--Goldhorse, a Hong Kong fintech company specializing in financial products, today announced that it has been selected by UOB Kay Hian Hong Kong, a top brokerage firm in Asia with over a century of operating and continued excellency, to provide a series of customized tools and financial services for the expansion of its structured product business.<a href="https://x.com/intent/post?text=We+admire+the+success+of+UOB+Kay+Hian+against+a+very+challenging+environment%2C+and+the+excellent+reputation+in+selecting+the+right+partner+along+its+journey+to+digitalization.+Goldhorse+is+elated+to+win+the+opportunity+to+service+and+learn+from+this...&amp;url=https%3A%2F%2Fwww.businesswire.com%2Fnews%2Fhome%2F20220524006188%2Fen%2FUOB-Kay-Hian-Goes-Extramile" data-mce-href="https://x.com/intent/post?text=We+admire+the+success+of+UOB+Kay+Hian+against+a+very+challenging+environment%2C+and+the+excellent+reputation+in+selecting+the+right+partner+along+its+journey+to+digitalization.+Goldhorse+is+elated+to+win+the+opportunity+to+service+and+learn+from+this...&amp;url=https%3A%2F%2Fwww.businesswire.com%2Fnews%2Fhome%2F20220524006188%2Fen%2FUOB-Kay-Hian-Goes-Extramile">“We admire the success of UOB Kay Hian against a very challenging environment, and the excellent reputation in selecting the right partner along its journey to digitalization. Goldhorse is elated to win the opportunity to service and learn from this industry leader.”</a><figure id="figure-yak66u0xym0f11xpj" class=""><img id="yak66u0xym0f11xpj" src="https://cdn.durable.co/blocks/36Kq5dkI9YnkTSmYXkhcpVugIPF7qUP3c7wCKXk6R84mYS1Jb82VHDGDL1epwnGa.jpg" alt="Business finance and investment, Analyze economic growth charts for informed business finance decisions and financial decision-making. Stock Market report, Strategy, Data Collection, Forecasting" title="Business finance and investment, Analyze economic growth charts for informed business finance decisions and financial decision-making. Stock Market report, Strategy, Data Collection, Forecasting" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/36Kq5dkI9YnkTSmYXkhcpVugIPF7qUP3c7wCKXk6R84mYS1Jb82VHDGDL1epwnGa.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>“Providing seamless access to structured products information, our sophisticated tools and technology offer investors the capability of trading across a broad range of structured products, such as Equity Linked Notes and Accumulators/Decumulators,” cited Raymond Lam, Executive Director of UOB Kay Hian Hong Kong. “In working with Goldhorse, we hope to further improve our capabilities in these areas.”“Extramile brings deal-makers back to the driver seat and turns data into information, in which they can easily share to their teams, colleagues, and most importantly, clients,” explained Long Lee, CEO of Goldhorse. “We admire the success of UOB Kay Hian against a very challenging environment, and the excellent reputation in selecting the right partner along its journey to digitalization. Goldhorse is elated to win the opportunity to service and learn from this industry leader.” About UOB Kay HianBacked by the UOB Group, UOB Kay Hian is one of Asia’s largest brokerage firms. Headquartered in Singapore, UOB Kay Hian is supported by more than 80 branches worldwide including a growing network of offices across Southeast Asia, Greater China, the United Kingdom and North America. With more than a hundred years of history and distinction to its name, UOB Kay Hian has established itself as a trusted financial partner to a prestigious client base that comprises institutions, large corporations, high-net-worth individuals and retail investors. Supported by a strong, dedicated research team, its award-winning analysts are in place to impart the deep market knowledge clients need to navigate today’s complex trading environments. For more information, please visit <a href="http://www.uobkayhian.com" data-mce-href="http://www.uobkayhian.com">www.uobkayhian.com</a>. About Goldhorse Capital Management (HK) LimitedGoldhorse is a unique and leading financial products platform provider found and based in Hong Kong. The Company is licensed by the SFC to carry out Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities, allowing it to offer a true fin+tech solution to both the buyside intermediaries and the product suppliers in the High-Net-Worth market. Through Extramile, Goldhorse delivers multi-issuers RFQs, encrypted dealing process, and automated post-sales life cycle management solution into the hands of decision makers at Private Banks, Brokerage Houses, and External Asset Managers. Unbiased product education as well as tri-lingual local technical support are as well very valuable proposition to our clients, to enhance the way they service their end-clients. For more information, please visit <a href="http://www.goldhorse.com.hk" data-mce-href="http://www.goldhorse.com.hk">www.goldhorse.com.hk</a>. Source: <a title="UOB Kay Hian Goes Extramile" href="https://www.businesswire.com/news/home/20220524006188/en/UOB-Kay-Hian-Goes-Extramile" data-mce-href="https://www.businesswire.com/news/home/20220524006188/en/UOB-Kay-Hian-Goes-Extramile">UOB Kay Hian Goes Extramile</a>

UOB Kay Hian Goes Extramile

HONG KONG–(BUSINESS WIRE)–Goldhorse Capital Management (HK) Limited (“Goldhorse”), a Hong Kong fintech company today announced that it has signed co-operation agreements with affiliates of CITIC CLSA. CITIC CLSA is set to get further advanced in financial products distribution to the Extramile Community, while the fintech journey of CITIC Securities Wealth Management (HK) takes an advanced leap forward.<figure id="figure-qw9atpeqrcm0f07qly"><img id="qw9atpeqrcm0f07qly" src="https://cdn.durable.co/blocks/cF69XsaKGyi4Pn4qo5nITil1DqpTyuvXB2zAnGBtxHkft7HclG2IPjCSs3r18FR1.jpg" alt="Businessman uses computer with pen. Financial graph analysis concepts Stock market information. Reporting and Statistics Including KPI analysis on a blue background." title="Businessman uses computer with pen. Financial graph analysis concepts Stock market information. Reporting and Statistics Including KPI analysis on a blue background." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: undefined undefined;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/cF69XsaKGyi4Pn4qo5nITil1DqpTyuvXB2zAnGBtxHkft7HclG2IPjCSs3r18FR1.jpg" data-mce-style="aspect-ratio: 16/9; object-position: undefined undefined;"></figure>“We are privileged to partner with both the buyside and sellside of CITIC Securities at the same time to achieve mutual benefits. Extramile ecosystem has now another competitive issuer, CITIC CLSA, providing wider range of choices for our members,” said Ka Long Lee, CEO of Goldhorse. “Meanwhile, from price discovery to trend analysis, from trade execution to life-cycle management, Extramile provides all-round and bespoke solutions that matches the digital ambition of CITIC Securities Wealth Management (HK).”“International businesses of CITIC Securities Wealth Management (HK) continues to accelerate the transformation and upgrading of its wealth management business to provide clients with a wider variety of products and services,” commented Mr. James Xu, Head of Equities Derivatives &amp; Prime Brokerage and CEO of Wealth Management at CITIC CLSA, “The growth of client base, fast-changing markets and demand for product diversification, all require us to proactively stay ahead of our clients, to make our services digital, community-based and scalable. Extramile not only aligns with us on our industry-leading technology standard, it also offers products from CITIC CLSA. This is a win-win for us.”Built upon a user led approach, Extramile is a community-based, SaaS mobile sales tool served for buyside intermediaries and product issuers. Connected to dozens of investment grade rated issuers, it offers desktop and mobile apps so users can take care of their end clients anytime and anywhere. The convenience of a plug-n-play solution is popular, while White-Label solution caters to the complex and customized requirements of large organizations. About CITIC CLSAEstablished in Hong Kong in 1986, CLSA now has a global presence in 13 countries across Asia, Australia, Europe and the America. The company is strategically positioned to facilitate cross-border capital flows between Mainland China and the rest of the world. The company offers a suite of services including prime brokerage, corporate finance &amp; capital markets, FICC, equity derivatives, asset management, wealth management, and fund services, etc.With more than 100 research analysts covering 19 key industry sectors across 13 markets, the company provides award-winning sector and company insights that inform client’s investment strategies. It also hosts the annual CLSA Investors’ Forum, the longest-running and most comprehensive event of its kind in Asia, which attracts thousands of participants from around the globe. For further information, please visit <a href="http://www.clsa.com" data-mce-href="http://www.clsa.com">www.clsa.com</a>. About CITIC Securities Wealth Management (HK)CITIC Securities Wealth Management (HK) is the Wealth Management Platform of CITIC Securities, a leading company in the securities industry of China. We are committed to expand its international high-end wealth management services.The professional wealth management team in CITIC Securities Wealth Management (HK) provides diversified and multi-market asset allocation solutions to individual and corporate clients. Our products include equities and futures trading, margin financing, bonds, funds and investment advisory services etc. Our clients benefit from a strong retail distribution network in Greater China. We also offer professional products in different international markets to clients, such as Australia, German, Japan, Malaysia, Philippines, Singapore, Thailand, United Kingdom and the United States markets.As the “Excellent Wealth Management Partner”, CITIC Securities Wealth Management (HK) helps our clients to achieve wealth appreciation. Please visit www.citics.com.hk for more information About Goldhorse Capital Management (HK) LimitedGoldhorse is a unique and leading financial products platform provider found and based in Hong Kong. The Company is licensed by the SFC to carry out Type 1 (dealing in securities) and Type 4 (advising on securities) regulated activities, allowing it to offer a true fin+tech solution to both the buyside intermediaries and the product suppliers in the High-Net-Worth market. Through Extramile, Goldhorse delivers multi-issuers RFQs, encrypted dealing process, and automated post-sales life cycle management solution into the hands of decision makers at Private Banks, Brokerage Houses, and External Asset Managers. Unbiased product education as well as tri-lingual local technical support are as well very valuable proposition to our clients, to enhance the way they service their end-clients. For more information, please visit <a href="http://www.goldhorse.com.hk" data-mce-href="http://www.goldhorse.com.hk">www.goldhorse.com.hk</a>. Source:&nbsp;<a title="CITIC CLSA GOES EXTRAMILE; Collaboration leads to a new level of Greater Bay Area Fintech Collaboration" href="https://www.fintechfutures.com/techwire/citic-clsa-goes-extramile-collaboration-leads-to-a-new-level-of-greater-bay-area-fintech-collaboration/" data-mce-href="https://www.fintechfutures.com/techwire/citic-clsa-goes-extramile-collaboration-leads-to-a-new-level-of-greater-bay-area-fintech-collaboration/">CITIC CLSA GOES EXTRAMILE; Collaboration leads to a new level of Greater Bay Area Fintech Collaboration</a>

Citic CLSA Goes Extramile

Financial analysts analyze business financial reports on a digital tablet planning investment project during a discussion at a meeting of corporate showing the results of their successful teamwork.

Hong Kong SAR-based Goldhorse Capital Management today has launched Extramile, its new multi-issuer structured product platform (MIP), which will leverage on its ability as an independent intermediary to bring bargaining power to external asset managers (EAMs).Long Lee (pictured), former CEO of Vontobel Limited - the financial products arm of Vontobel Holdings in Hong Kong SAR - will spearhead the cloud-based platform after joining the six-year old company as CEO on 12 October. In an interview with SRP, Lee elaborates on the platform functions and his outlook on the EAM market in Asia.<figure id="figure-ywmvlk08kjm0ks2e6e" class=""><img id="ywmvlk08kjm0ks2e6e" src="https://cdn.durable.co/blocks/33GQnqVNSUkxROgNNYSIdxxVVmIztQ22lWX16B05G3YfJJeZuVfLui2w9oomF34r.png" alt="Candlestick chart and data of financial market." title="Candlestick chart and data of financial market." class="object-cover bg-gray-100" style="aspect-ratio: 1/1; object-position: 10% 50%;" data-corners="default" data-aspect="1:1" data-caption="" data-positionx="10%" data-positiony="50%" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/33GQnqVNSUkxROgNNYSIdxxVVmIztQ22lWX16B05G3YfJJeZuVfLui2w9oomF34r.png" data-mce-style="aspect-ratio: 1/1; object-position: 10% 50%;"></figure>“Extramile positions itself in the middle of buyers and sellers and functions like a traditional interbank-broker from one perspective,” Lee told SRP.<blockquote>"We are targeting 12 to 15 payoffs in the next six to 12 months"</blockquote>The platform supports lifecycle and sales management, record keeping, research reports as well as product advisory - Goldhorse obtained its Securities and Futures Commission (SFC) licences for advising on securities and dealing in securities last February, which is uncommon for existing multi-issuer structured products platforms, according to Lee.“I can’t say for Asia, but in Hong Kong SAR, we are the first and only one offering such a platform targeting EAMs,” he said.Goldhorse has 14 employees at present, spanning a CIO office, dealing team and back-end team, as well as a ‘double-digit’ number of EAM clients, according to Lee. Capabilities Developed by Goldhorse last December, Extramile has seen a trading volume of US$2 billion through close to 1,000 trades year-to-date. “This year has been a difficult year to gauge any trend at all, but we saw very good numbers in Q3, and Q4 is not bad at all,” said Lee.Ten issuers are currently quoting on the platform including Credit Suisse, UBS, Morgan Stanley, Société Générale, Nomura, Natixis, BNP Paribas, Vontobel, Leonteq and Citigroup.Payoffs available have expanded from fixed coupon notes (FCN), bonus enhanced notes (BEN), accumulator and decumulators to range accrual, equity-linked notes (ELN) and target redemption forwards (TARF).“We are targeting 12 to 15 payoffs in the next six to 12 months. However, our dealing team can service various structured products like fund-linked notes and actively managed certificates [AMCs], or even a bond repack,” said Lee, adding that equity underlyings remain dominant. “Lifecycle management and risk control are the two most frequently requested areas from our clients.”<blockquote><h3>The pricing discovery takes around 60 to 90 seconds on average, and a trade can be executed within three to four minutes if the clients are ready.</h3></blockquote>Extramile also provides house views including daily recap, multi-asset class strategy, conviction list and macro analysis, as well as materials from third parties such as daily key investment highlights from investment banks.As part of the firm’s product advisory service, there will be daily trading axes, weekly investment theme and biweekly trading ideas, which are supported with live chatroom, according to Lee.Additionally, EAMs can track their transactions and analyze the trade data for risk, trade or sales management purposes.“They can now see a matrix of custodian banks and issuers and our system can prevent error trade due to onboarding setup,” said Lee, adding that the platform also enables EAMs to filter the issuers that have no partnership with their custodian banks through a click of button.“In addition, different product requirements from the issuers are displayed straightforwardly, such as the minimum or maximum ticket size.” Wholesale&nbsp;The platform available in English and Chinese is targeted at EAMs - a group that’s under-serviced by investment banks but growing rapidly in Asia, and is likely to include small securities houses or even private banks later next year. EAMs pay no subscription or upfront fee to join and access research reports at Extramile but pay a volume-based commission after each trade. “Goldhorse is not part of the settlement process,” said Lee. “In fact, we are the first ‘B’ in the ‘B2B2C’. Strictly speaking, we are not even in contact to ‘C’ and have absolutely no interest in their information.” Lee highlights the platform’s bargaining power to offer wholesale pricings for EAMs, regardless of their trading volume. “Most EAMs do not have the capacity to speak to more than just a few issuers on a regular basis, whereas due to our platform volume we are able to scan the rest of the market for them,” said Lee.“It’s a one venue to compete for billions of flow versus small manual tickets all over.” “We are issuers and/or custodian agnostic, making our views or suggestions unbiased and independent, and this is something I was not able to do in my past life for obvious reason.” NextGoldhorse is also looking to develop a mobile application and incorporate more lifecycle pre-alerts, such as a specified percentage away from barrier hit or early knockout, as well as provide more efficient risk control including trade size control.“Lifecycle management and risk control are the two most frequently requested areas from our clients,” Lee said. “Right now, we are mostly handling post-trade service via email or in our secured chatroom on Extramile. Both types of alerts and medium of communication have room for improvement.”Big data is also set to be deployed based on the buyside’s transaction history in order to provide automatic tailor-made solutions.The blueprint is closely connected with the positive outlook of the EAM market as some private banks are setting up dedicated EAM desks to service this growing sector.“Tremendous amount of wealth has been created from the IPO market this year,” said Lee. “From what I can see, the pipeline for Q1 21 is just equally strong. Some of this new wealth is likely to flow either into single family offices or EAMs.” The asset under management (AUM) by EAMs in Asia ranges from US$100m to US$5 billion, which is contrasting from any private bank in Asia that would easily be managing US$25 billion. According to Lee, there are more than 100 EAMs in Asia. “As a result, it’s labour intensive for issuers to cover the EAM market,” Lee said. “However, its growing presence has made it a segment that is difficult for them to ignore.”Asian countries remain far behind their counterparts in Europe when it comes to the percentage of wealth managed by EAMs, specially Switzerland. " A catch up is due," Lee concludes. Source: <a title="SRP: former Vontobel head rolls out MIP targeted at EAMs" href="https://www.structuredretailproducts.com/News/Details?id=76726" data-mce-href="https://www.structuredretailproducts.com/News/Details?id=76726" data-mce-selected="inline-boundary">SRP: former Vontobel head rolls out MIP targeted at EAMs</a>

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