MEDIA RELEASE PR35343
Coventry Continues International Expansion, Opens Hong Kong Office
HONG KONG, July 9 /PRNewswire-AsiaNet/ --
Charles Wong Named Managing Director of New Office, Latest
Senior Executive to Join Coventry Team
Capitalizing on heightened investor interest in the U.S. longevity
market, Coventry announced today the launch of Coventry Capital HK Limited,
based in Hong Kong.
The move continues Coventry's global expansion and extends the firm's
industry-leading platform for accessing longevity-based assets to
institutional investors throughout the Asia/Pacific region.
"Institutions world-wide are moving into longevity as they seek
alternative exposures that offer predictable performance that is uncorrelated
to other assets," said Reid Buerger, Executive Vice President of Coventry.
"Our presence in Hong Kong, along with the opening of our London office in
2008, gives investors throughout the global economy unprecedented access to
this asset class."
Coventry, which is actively developing its Capital Markets platform, also
announced the hiring of Charles T. Wong, formerly of JPMorgan Chase, as
Managing Director in Hong Kong. Mr. Wong brings an extensive background in
structured finance and will play a key role in Coventry's growth in the Asian
market. Mr. Wong joins Coventry after 13 years at JPMorgan Chase where he
most recently served as Managing Director and Head of Structured Investment
Derivatives Marketing for Asia Markets.
"Coventry's reputation in the secondary market for life insurance is
impeccable," said Mr. Wong. "The firm is uniquely positioned to capitalize on
the growing world-wide demand for true alternatives such as longevity-based
assets and I look forward to playing a key role in the company's success in
the region."
The moves extend Coventry's leadership in the U.S. secondary market for
life insurance. Mr. Buerger noted that Coventry, which pioneered the life
settlement industry in the U.S., has structured more than $29 billion in
longevity-related transactions to date and has implemented a robust capital
markets platform that consolidates origination, servicing and structuring of
longevity and mortality-related assets in-house and works with external third
parties.
"We are thrilled to welcome Charles to the Coventry team and look forward
to expanding our profile in the Asian-Pacific markets," said Mr. Buerger.
"Charles' knowledge, experience and reputation are of the highest caliber,
which are all qualities that Coventry shares. I anticipate a highly
productive relationship."
About Coventry
Coventry is the leader in the U.S. longevity market offering a wide range
of investor and fund services to a diversified client base that includes
pensions, endowments, insurers and funds. For over 25 years, Coventry has
been redefining insurance and has been a key driver behind the convergence of
the insurance and capital markets. The firm is headquartered in Pennsylvania
and operates throughout major financial centers worldwide. Coventry refers to
the subsidiaries and affiliates of The Coventry Group, Inc., each of which is
a separate legal entity.
Media Contact
Stuart Wood
Director, Strategic Communications
+1-215-836-8314
swood@coventry.com
SOURCE: Coventry
CONTACT: Stuart Wood, Director
Strategic Communications of Coventry
+1-215-836-8314
swood@coventry.com
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