Hong Kong, September 06, 2023 – Gray Financial Capital, a leading offshore clearing firm based in Hong Kong, announces the successful acquisition of Tokyo-based Sapporo Capital. This monumental merger is set to significantly reshape the landscape of offshore investment advisory services in the Asia-Pacific region.
Strategic Alignment for Growth
Gray Financial Capital has long been a dominant player in offshore clearing for smaller brokerages and financial advisors across the Asia-Pacific region. With over $5 billion under management, the firm's acquisition of Sapporo Capital—a boutique investment firm specializing in offshore investment advisory services for high-net-worth clients in Asia with $1 billion under management—marks a significant milestone.
Leadership and Governance
Steven Tsang will continue to helm the integrated entity as its CEO. "We are thrilled to combine forces with Sapporo Capital," said Steven Tsang. "This merger allows us to expand our client base and focus on high-growth strategies, aiming for a 200% year-over-year growth in client accounts for the next three years."
Regulatory Approval and Transition
While some regulatory challenges are expected within the Hong Kong regulatory system, both firms are confident that the approval will be obtained swiftly. The target date for complete integration of services, technologies, and staffing is October 31, 2023.
Staffing and Company Culture
The merger will reduce 75% of Sapporo Capital's current staff as part of the integration process. Gray Financial Capital is committed to a smooth transition and will support affected employees.
Client Relations and Contractual Obligations
All contracts and transactions under Sapporo Capital will be settled or transitioned to Gray Financial Capital accounts. Clients will be informed of these changes and how they affect their portfolios.
About Gray Financial Capital
Gray Financial Capital is a Hong Kong-based offshore clearing firm with over $5 billion under management, primarily serving smaller brokerages and financial advisors in the Asia-Pacific region.
Media Relations Gray Financial Capital
Phone: +852 800906376