Hong Kong startup announces plans to hire 50 staff
Hugo Lui has ambitious hiring plans for the two startups he runs in Hong Kong, Alpha Bright Asset Management and wealthtech firm ETFCOOL. They currently employ fewer than 10 people, but Lui says he wants to add 25 new staff in 2020 and another 25 next year.
In 2019, Lui left his job as a New York-based research analyst at Citi, where he’d worked for nearly eight years, and moved back to Hong Kong to set up Alpha Bright, a quantitative-based investment management firm that utilises both bottom-up stock selection strategies and multi-alpha top-down macro strategies. Last June, Lui launched ETFCOOL, a fintech platform that’s being incubated by Alpha Bright and allows investors to “click to invest” in ETF-based portfolios focused on five sustainable investment “themes”, including environmental protection and urban transit.
Lui says he needs more people on board to help the businesses develop new products, for example around thematic investments. “We’re planning to deploy new investment-technology modules this year and next year. These include investment-analysis automation, and new technology for investment projections and thematic investments,” says Lui, who managed global transformation projects on equity management systems while at Citi.
Alpha Bright and ETFCOOL will hire fresh graduates from Master’s programmes as well as experienced staff, mainly from tech firms and fintechs. Lui doesn’t believe there’s a shortage of Hong-Kong based tech candidates willing to work for startups like his. “Candidates are very open to working in fintech – we’ve had a lot of interest,” he says. “Starting a fintech firm is very challenging, so you need a team of good people who are willing to innovate, innovate again, and keep innovating new products and new business models. To work here you need a spirit of using technology to better people’s lives,” he adds.