The start of 2003 saw a flurry of activity at CDC IXIS Asset Management, which began seeking ways to expand its institutional and high-net worth fund management business out of its Singapore hub into North Asia. It hired Michael Chan from Dexia Fund Services in February to head up marketing for Hong Kong and Taiwan, while regional managing director Wen Lo began looking at office space in Hong Kong.
Then came the outbreak of the Sars virus, which put an end to office shopping and left Chan trying to network with prospects over the telephone from Singapore. Although Sars has dealt the firm a setback, Lo says it is still considering setting up...
