Jon Foster, Smartkarma
Singapore and London - Smartkarma's move to the UK coincides with major banking legislation, MiFID II, which takes effect in January 2018 and requires transparency around the supply and payment of research. The goal for European regulators is the 'unbundling' of research; rather than assets managers receiving research 'free' from banks alongside trading revenues, it must now be transparently and fairly priced and paid for.
Arzish Baaquie, who joined the firm in 2014 and previously led the Special Situations offering, will head Smartkarma in the UK and will build a team based in Baker Street, London.
"The research industry is under significant stress from MIFID II, and it is no secret that we plan to take full advantage of this fractured market. Our transparent subscription model and open access to the complete ecosystem of research and analysts means that investors are MiFID II compliant and can access independent research through an innovative, cloud-based platform," says Jon Foster, Co-founder and Chairman of Smartkarma.