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Phillips and Seamico Enter Asset Management Business

AsianInvestor reports SEC's approval for Phillips Securities and Seamico Securities to operate asset management business.

Thailand’s asset-management industry has grown by two, with Phillip
Securities and Seamico Securities both receiving approval from the
country’s Securities and Exchange Commission (SEC) to set up
businesses. The arrival of both firms, which are entrenched brokers in
the Thai market, will elevate the number of asset managers in Thailand
to 20.

Before officially opening doors over the next three months, both Phillip and
Seamico will need to receive SEC approval on their individual operating
systems. Under this process, the SEC will conduct thorough audits and
assessments of management teams, risk management and broker and asset
management IT systems. Once the firms’ pass this regulatory check they
are then allowed to begin business.

The article goes on to mention Manulife and Kim Eng Securities as the next possible near term entrants. The playing field is definitely getting bigger. Anyone shopping for a quantitative researcher?

From: AsianInvestor 

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