In his new role, Navlakha will take responsibility for all equity sales to SingaporeÆs growing fund and asset management community. Navlakha, who was previously head of hedge fund equity sales in Singapore at Deutsche
Bank, will report regionally to Tom Welch, head of Asian equity sales. Clive Lee will take over as head of hedge fund equity sales in Singapore and report to Navlakha.
ôNileshÆs detailed understanding of the dominant small- and mid-cap equity space in Asia and extensive international equities experience leaves him well-placed to ensure the diverse needs of our Singapore-based clients are met," says Welch.
SingaporeÆs fund and asset management industry has grown significantly over the past several years as the government aims to establish itself as a regional centre for the industry in Asia. Since 2001, the value of assets managed by Singapore-based funds nearly trebled, from S$307 billion ($225 billion) to S$891 billion in 2006, according to the latest figures from the Monetary Authority of Singapore.
In response to this growth, Deutsche Bank last year expanded its hedge fund servicing capabilities in Singapore by establishing desks for its global prime finance and hedge fund capital introduction group units. The new desks provide prime brokerage, capital introduction and trading support to Singapore's growing alternative investment community.
Navlakha joined Deutsche Bank in 2003 as a director and senior Asian equities salesperson based in New York. Prior to this, he was a senior Asian equities salesperson at SG Cowen Securities in New York, following a period working in equity sales at ING Barings Securities in London.