Amundi is expanding its presence in South Asia with the launch of a new wholly-owned subsidiary in Bangkok, Amundi Mutual Fund Brokerage Securities (Thailand) Company Limited.
The move makes Amundi Group the first foreign asset manager in Thailand to receive a mutual fund brokerage license for distribution of funds under the ASEAN Collective Investment Scheme (CIS) which serves to promote market integration in the region.
Amundi has been established in Asia since the early 1980s with offices in Hong Kong, Japan and Singapore.
Pascal Blanqué, head of institutional clients and third-party distributors and chief investment officer, Amundi says: “Our approach is to leverage on our local presence by working in close partnership with our clients, providing a dedicated local sales and service infrastructure. The launch of the Bangkok office marks a turning point in our expansion strategy in South Asia and will help us strengthen our understanding of the Thai market. We are confident in achieving sustainable business through our long term commitment to Thailand.”
The establishment of this new subsidiary in Thailand marks a new milestone in the group’s development in South Asia, where Amundi aims to achieve its ambitions through a two-fold approach:
· A product offering adapted to the needs of local investors, distributed through securities companies, bank-backed asset managers, insurance companies and global distributors.
· Further enhancement of its existing institutional business by partnering with sovereign agencies, pension funds, government institutions and corporates through mandates managed by Amundi offices worldwide.
Along with the office launch, Prapatpong Weeramon has been appointed managing director of Amundi Mutual Fund Brokerage Securities (Thailand).
“Amundi is internationally recognised for its expertise in providing customised and effective solutions. We are here to partner and grow with local asset managers and distributors, and contribute to this fast-growing financial centre. The Thai economy is dynamic and we aim to have a positive contribution in the development of this exciting market. We will work with local partners to broaden the variety of investment products to retail, private and institutional investors in Thailand,” says Weeramon.