Paul Smith, Bank of Bermuda's head of global fund services for Asia says that Murphy, who started yesterday Monday, will have two roles. One is to continue efforts to attract Asia-based hedge fund clients for Bermuda's record keeping and registrar services. The other, perhaps more interesting role, is to help put the bank at the centre of the Asian hedge fund universe.
Smith says this universe today is miniscule. Bank of Bermuda has an active business in North America and Europe, and wants to develop it in Asia as well. We foresee that one day the Asian hedge fund market will be huge and we want to get in early, he states....
