In line with its global expansion plans and a spate of recent new hires, investment management solution provider DST Global Solutions has added a new business development team to its on the ground presence in China. The team will be headed by Nancy Yu, who was previously head of sales for DST Global Solutions’ China and Hong Kong operations, and will be responsible for the introduction of new business solutions, as well as the identification of partnership and acquisition opportunities in the Chinese market.
The vendor has been present in the Chinese market since setting up shop in 2001 and this year has confirmed its commitment to the local market by launching a new website dedicated to servicing customers in the region. The new business development team will work alongside DST Global Solutions’ existing Investment Management Solutions (IMS) and Business Process Management (BPM) business teams, with a special focus on exploring new business initiatives and on introducing the full range of DST’s products and services to the Chinese market.
Yu has worked on many of DST Global Solutions’ largest deals in Asia, including China Life Asset Management Company (CLAMC), AEGON and AEGON-CNOOC. Chinese institutional investment firm CLAMC completed the rollout of the HiPortfolio/3 investment accounting solution in March this year with a view to increasing its STP and allowing its managers to more effectively monitor their portfolios.
Yu explains the plans for growth: “Over the last eight years, DST Global Solutions has been fortunate to be able to build a solid knowledge ground for the Chinese capital market by working with some of the largest institutional investors in China. So far our activities in China have been focused on delivering our IMS software solutions to our clients, and we will continue to expand this side of our business. With the establishment of this new business development team, we will look for opportunities to extend our presence in China to include a range of new solutions and services, including risk and performance analytics, reconciliation tools, investment platforms and automated workflow processes. I believe this move also sends a clear message to the market that we continue to maintain a positive outlook for the Chinese market and will continue to invest in China.”
Tom Abraham, CEO of DST Global Solutions, adds: “The creation of this new team represents the next stage in our growing commitment to the Chinese marketplace. We intend to further expand our offerings to Chinese institutions to enhance their ability to compete globally. This team will nurture a number of new initiatives in the coming year.”
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