W I Carr positive still after 25 years

W I Carr, which is celebrating 25 years in Hong Kong, has come a long way since setting up shop as the first foreign brokerage in the territory, says chief executive Chris Thompson.

'Back in 1969 daily volume was around $8 million, so it was a pretty brave step to set up in Hong Kong,' Mr Thompson said.

But time, and a little luck, have proved that decision to be a correct one.

The brokerage, which is now part of the Indosuez group, boasts 14 offices and 450 employees in the region, and was last year voted the second best brokerage in Asia by Asia Money magazine.

The term foreign brokerage was a little misleading, because W I Carr was based in Asia, Mr Thompson said.

'Unlike many of our competitors, we are an Asian-based brokerage,' he said.

He fondly recalled his days running the New York office, which he referred to as being 'in the back of beyond'.

His mission now is to oversee the brokerage's drive into ever-newer emerging markets.

'We like to be at the forefront of emerging markets. We opened an office in [South] Korea in 1985, which was six years before foreigners were allowed to buy stocks, and in Taiwan in 1987,' said Mr Thompson.

He said India was the next emerging market, and the company would devote a lot of its energies there.

'I am very positive about the future. The demands for capital throughout Asia will continue to be enormous, and foreign capital will continue to look for higher returns in Asia.

'Our job is to match that demand with supply, and that will keep us busy for the next 25 years.' Last night the brokerage celebrated its 25th anniversary with a party at a restaurant in Central.

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