Global financial services provider Apex Group on Monday announced the initiation of its business operations in South Korea. The move aims to offer extensive solutions to global asset management clients and solidifies the firm’s presence in the Asia-Pacific region.
Apex Group, present in Luxembourg with brands such as LRI, Sanne, FundRock and EDB, is known for delivering a broad spectrum of services to asset managers, financial institutions, private clients, and family offices. With the latest addition of the Korea branch, Apex bolsters its already expansive network of regional offices, which include China, Hong Kong, Japan, and Singapore. In these locations, Apex Group currently employs over 500 local experts, about half the number of people it employs in Luxembourg.
A skilled and expanding local team is in place to support both domestic and global asset managers in Korea. They will be providing Apex Group’s technology-enabled single-source solutions, which have garnered the Group a reputation for delivering exceptional client service.
Strategic market entry
The group’s entry into the South Korean market is seen as a strategic move, following Korea’s continued growth and outstanding performance as a global hub for financial services, asset management, and regional private markets.
The launch in Korea is backed by Simon Hurst (photo) in a non-executive advisory role. Hurst brings over 30 years of financial services experience to the table. He most recently served as the managing director and chief accounting officer at Goldman Sachs in Korea. Before that, he held various senior leadership, operational, and risk roles at Goldman Sachs and JP Morgan in Korea, Japan, and China.
The announcement aligns with Apex’s ongoing expansion in the Asia-Pacific region. It follows Apex’s recent acquisition of Axess Accounting Office, a prominent provider of corporate services in Japan.
Peter Hughes, founder & CEO of Bermuda-headquartered Apex, in a statement expressed optimism about the new venture: “We are proud to announce our continued geographic expansion with the launch of our Korea business as we continue to evolve our service offering and support our clients globally. We see compelling growth opportunities in the Korean market, which has proven to be one of the most adaptable and resilient global economies and continues to be at the forefront of digital transformation.”