(Hong Kong, 8 March 2017) – Carret Private Investments (Asia) Limited - which is an affiliate of Carret Asset Management, LLC (“CAM”), a leading multi-billion dollar investment manager based in New York – is pleased to announce the recent appointments of two veteran wealth management professionals to the Company, namely David Lam and Calvin Hsu.
Mr. Lam joins Carret Private Investments’ asset management subsidiary as Chairman of the Advisory Board. With more than 34 years of experience in the financial industry, he brings a broad base of professional and management expertise. Mr. Lam is well respected in the asset management and wealth management industries, and has held various key positions, most recently as Head of North Asia for Coutts Private Bank and the Head of GAM for the Asia Pacific region. Mr. Lam was educated in the U.S. with a Bachelor’s degree in Economics and a MBA from the University of Southern California. He will be based in Hong Kong.
Mr. Hsu joins Carret Private Investments’ wealth management affiliate, QL Asset Management Company Limited, as Partner and Head of Greater China. Calvin brings with him over 28 years of experience with various international banks in Asia and the U.S. He spent much of his financial career working for Citibank; most recently as Regional Head for Citi Wealth Advisors and previously in senior wealth management roles at Salomon Smith Barney. Prior to this, he was Managing Director and Head of Hong Kong for Merrill Lynch Global Wealth Management. Mr. Hsu graduated with a Bachelor’s degree in Economics and Political Economy of Industrial Societies from the University of California, Berkeley. He will be based in Hong Kong.
Kenneth Ho, a Managing Partner of the Carret Private Investments (Asia) commented, “We are very pleased to welcome David and Calvin to our family. They join at an important time as we continue to grow our Asian multi-family office business, particularly in response to the needs of the Greater China market. Their deep base of knowledge and experience in the asset management and wealth management industries will greatly expand our capabilities to attract and service high net worth families to our company. Both of them have the expertise, reputations and depth of knowledge which are perfectly suited to carry on the tradition started by our founder, Philip L. Carret.”
Philip L. Carret’s disciplined and effective approach to investing was applauded by renowned value investor Warren Buffett, who said Philip L. Carret had established “the best long-term investment record of anyone in America.”
About Carret Asset Management
CAM was founded in 1963 by Philip L. Carret, a Wall Street icon and investment legend who pioneered the concept of value investing. He first introduced value investing in a series of Barron’s articles in 1927 and further described the concept in his 1930 book, The Art of Speculation. Philip L. Carret put his ideas into action in 1928, when he founded one of the world’s first mutual funds, the Pioneer Fund, which he managed with great success for more than half a century.