People Moves
Quam Asset Management CEO Bows Out
The chief executive of Hong Kong-based Quam Asset Management, has resigned to focus on his consultancy business.
Richard Harris, the investment management veteran who joined Hong Kong's Quam Asset Management a year ago, has resigned to focus on his consultancy business.
Richard Harris leaves the firm by mutual consent, to focus on driving his asset management consultant, Port Shelter, which he launched several years ago and now will operate full time as CEO. At Port Shelter he has provided consulting to investing institutions, fund boards, expert witness panels, family offices and the HK Securities and Futures Commission.
Replacing Harris is Kenneth Lam, the chief executive of parent company Quam Group. Lam assumed the CEO role for the parent firm in October last year, in addition to being deputy chairman.
Harris told WealthBriefingAsia exclusively: "I am pleased to have been involved in the development of leading edge products like the Mongolia Fund and the RMB equity products. I am sad to leave Quam but lucky to be embarking on an exciting new professional opportunity. Quam has a large and growing client pool."
Harris has 25 years experience in the industry in Asia. He has worked as a senior executive with Citibank, Jardine Fleming (now JP Morgan) and Mellon Newton (now BNY Mellon) and has substantial board experience, including inside China.
Quam posted a 54.8 per cent revenue increase in the first six months to HK$197 million ($25 million), compared to the year-earlier period. In December, the company launched Quam Private Wealth Equity in Hong Kong to provide more focused products and services to its high net worth clients.
Quam Asset Management is held within Quam Limited, a Hong Kong-based financial services group which was listed on the SEHK in 1997. After a series of strategic acquisitions beginning in 2001, the group is now comprised of several renowned businesses, including Quam Securities, Quam Capital, Quam Asset Management, Quam Wealth Management, Quam Private Equity, Quamnet.com and Quam Investor Relations.
