A US-based firm providing software solutions to the wealth management sector has opened for business in the Asian city-state.

US-headquartered Dynamo Software, a provider of asset management software for alternative investments such as hedge funds and clients such as family offices, has opened for business in Singapore.

The firm has launched an Asia-Pacific sales and client services office in the city-state, based in the Samsung Hub commercial building. The office will serve clients and prospects in Asia and Australia, Dynamo Software said in a statement.

The office will be led by Russell Toop, who has joined the company following a 13-year stint at Trading Technologies, which provides software solutions for electronic derivatives trading. Most recently, he was managing director for Singapore and Hong Kong at that company.

Formerly known as Netage Solutions, Dynamo Software works with organisations such as private equity firms, hedge funds, property investment businesses, prime brokers, funds of funds, endowments and family offices. It has more than 400 clients together overseeing over $1 trillion in assets. (This publication recently interviewed the firm about its business strategy and will publish this item shortly.)