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COPYRIGHT 2005 Euromoney Institutional Investor PLC. Internal use only 10 copy limit. No further use w/o permission. Publisher@euromoneyplc.com.
The year 2004 brought with it new opportunities: booming emerging markets, rising property prices, the much-awaited depolarisation in the U.K. and the re-election of U.S. President George Bush. Along with it came regulatory challenges in markets such as Hong Kong. While some fund professionals displayed the vision to tap these opportunities, others had the courage to face the challenges. GFN nominates such individuals for its annual awards in three categories: Global Fund Leader of the Year, Fund Provider of the Year and Distribution of the Year. The winners will be announced in May.
Global Fund Leader Of The Year
Thomas Rostron, managing director-head of client servicing and business development, Fortis Investments
The Benelux giant last year changed its distribution model to concentrate on growing third-party distribution outside of its home markets, a first for the company which traditionally relied on its proprietary banking channel, Fortis Bank. Rostron, who was brought on board to initiate this change back in 2001, negotiated 67 new contracts last year with the likes of ING, Commerzbank, Rabobank and Skandia Vita in Germany, Italy, Spain, the U.K., Austria, Switzerland and Japan. The move took Fortis' global assets under management to E87.06 billion (US$1.1 trillion) at the end of 2004, compared to E79.42 billion before the introduction of third-party sales. Around 75% of the firm's new revenues now come from third-party sales outside the Benelux countries.
Fortis also introduced a host of Euro-centric funds, including an absolute return Euro equities fund, a convertible bond fund and an inflation-linked bond fund to propel third-party expansion. It also tapped the Czech Republic last year through external partnerships.
Henry Lin, chairman of Securities Investment Trust & Consulting Association (SITCA)and ceo, President Investment Trust Company
Lin was instrumental in pushing through the landmark Securities Investment Trust & Consultancy Act last year, which changed the face of the fund industry in Taiwan. It allowed free sale of offshore funds by Securities Investment Trust Enterprises (SITEs), Securities Investment Consulting Enterprises (SICEs) and brokers, giving foreign managers a new entry conduit in this high-potential mart. It also enabled SITEs and SICEs to operate under one licence--a big structural change leading to tremendous cost saving and operational efficiency in the industry.
The seeds of the reforms were sown a couple years back when Lin, then the chairperson for the SITE business committee at SITCA, formed an Act-drafting working group comprised of academic scholars and industry professionals. It took several proposals and revisions made to the Securities and Futures Bureau and its parent Financial Supervisory Commission before the bill was passed by the Legislative Yuan in June. Lin was also actively involved in negotiations with other bodies that had vested interest...
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