Endowus, a digital wealth management platform based in Singapore, has appointed Hugh Chung as its chief investment advisory officer.
Chung will lead the collective efforts of the centralized Investment Office across the Endowus Group that includes the Endowus digital platform, Endowus Private Wealth, and now Carret Private.
He will work closely with chairman and chief investment officer Samuel Rhee in providing group strategic direction on the expert curation and management of all investment solutions across public and private markets that are now accessible by tens of thousands of individual and institutional investors in Singapore and Hong Kong.
Chung has more than 20 years of experience in the asset management and financial advisory space in Asia. In his previous role as chief investment officer for a single family office, he was responsible for strategic asset allocation, portfolio construction and fund selection across regions and asset classes.
He was managing director at Kadensa Capital and Azentus Capital as the founding member and senior investor of two of the most successful hedge fund launches in Asia. Prior to this, Chung had oversight of Korea equity distribution at J.P. Morgan, and was at Goldman Sachs in its Principal Strategies Group in Asia and Samsung Securities.
Chung will lead the integration of Endowus’ and Carret Private’s investment functions and strategies as Endowus Group.
In October 2022, Endowus acquired a majority stake in Hong Kong-based Carret Private, catapulting Endowus Group into one of the largest independent wealth managers with assets of over S$5 billion (US$3.7 billion).
Apart from chairman Rhee, Chung will also be working closely with Sean Wong, head of investments; Min Axthelm, director of investment research, and the 14-person Endowus Group’s Investment Office, based in Singapore and Hong Kong.
The Investment Office provides institutional-grade fund manager selection, fund due diligence, as well as portfolio creation, optimization, monitoring and review, which is a unique feature of the open architecture wealth advisory platform at Endowus that helps to empower individual investors through advice, access, and cost.