US asset manager Federated Hermes joins wave of finance firms setting up in Hong Kong

Federated Hermes, a New York-listed asset-management firm, plans to set up a Hong Kong office to seize opportunities in Asia’s markets amid ongoing global geopolitical tensions. The company confirmed the move a year after CEO Chris Donahue said at the Asian Financial Forum (AFF) that the Pittsburgh-headquartered firm was considering a presence in the city. The plan had now won board approval and would be announced during this year’s AFF, which kicks off on Monday, the company said. The plan...