Goal Group moves into Hong Kong
10 June 2013
News, Global, Hong Kong
By Asia Asset Management
Goal Group Limited, a claims outsourcing provider and tax reclamation specialist, announced on Friday (June 7) the opening of a new office in Hong Kong, marking a new phase in the company’s global services expansion.
New Goal offices opened in Philadelphia in October 2012 and in Melbourne at the beginning of this year. The latest addition in Hong Kong further extends the company’s services to a fully global client base. The new operation will provide class action claim filing services to corporate pension funds, global custodians, banks, local government authorities, brokerage firms and hedge funds.
Jonathan Hu has been appointed to head up the Hong Kong office, bringing vast experience of financial modelling and a sound knowledge of equity and debt markets. His previous position was as a director and head of Greater China sales at Fitch Solutions, one of the three ratings agencies first recognised by the Securities and Exchange Commission. Before Fitch Ratings, Mr. Hu worked for Bloomberg LP as enterprise solutions and bond pricing sales manager for Greater China and at the Canadian Imperial Bank of Commerce.
Stephen Everard, CEO, Goal Group, comments: “The securities class action scene outside of the US is developing fast, and this international diversification has resulted from a combination of restrictions on jurisdiction definitions in the US Federal courts, along with a growing desire to develop domestic class action procedures in many countries around the globe. Recent developments across different regions reinforce the need for global firms to monitor potential litigation venues around the world. Jonathan’s combined experience in all aspects of banking operations makes him the perfect choice to head up our new Hong Kong office.”
Mr. Hu says: “The Hong Kong securities regulator proposed in May 2012 the introduction of legislation to allow class-action lawsuits to help investors seek damages. The overall result of this international expansion of securities class actions is likely to be settlement volumes in non-US jurisdictions that mirror the US experience in the first decade of the 21st century.”
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