Coventry Continues International Expansion, Opens Hong Kong Office

2009-07-09 06:00 567

Charles Wong Named Managing Director of New Office, Latest Senior Executive to Join Coventry Team

HONG KONG, July 9 /PRNewswire-Asia/ -- Capitalizing on heightened investor interest in the U.S. longevity market, Coventry announced today the launch of Coventry Capital HK Limited, based in Hong Kong.

The move continues Coventry's global expansion and extends the firm's industry-leading platform for accessing longevity-based assets to institutional investors throughout the Asia/Pacific region.

"Institutions world-wide are moving into longevity as they seek alternative exposures that offer predictable performance that is uncorrelated to other assets," said Reid Buerger, Executive Vice President of Coventry. "Our presence in Hong Kong, along with the opening of our London office in 2008, gives investors throughout the global economy unprecedented access to this asset class."

Coventry, which is actively developing its Capital Markets platform, also announced the hiring of Charles T. Wong, formerly of JPMorgan Chase, as Managing Director in Hong Kong. Mr. Wong brings an extensive background in structured finance and will play a key role in Coventry's growth in the Asian market. Mr. Wong joins Coventry after 13 years at JPMorgan Chase where he most recently served as Managing Director and Head of Structured Investment Derivatives Marketing for Asia Markets.

"Coventry's reputation in the secondary market for life insurance is impeccable," said Mr. Wong. "The firm is uniquely positioned to capitalize on the growing world-wide demand for true alternatives such as longevity-based assets and I look forward to playing a key role in the company's success in the region."

The moves extend Coventry's leadership in the U.S. secondary market for life insurance. Mr. Buerger noted that Coventry, which pioneered the life settlement industry in the U.S., has structured more than $29 billion in longevity-related transactions to date and has implemented a robust capital markets platform that consolidates origination, servicing and structuring of longevity and mortality-related assets in-house and works with external third parties.

"We are thrilled to welcome Charles to the Coventry team and look forward to expanding our profile in the Asian-Pacific markets," said Mr. Buerger. "Charles' knowledge, experience and reputation are of the highest caliber, which are all qualities that Coventry shares. I anticipate a highly productive relationship."

About Coventry

Coventry is the leader in the U.S. longevity market offering a wide range of investor and fund services to a diversified client base that includes pensions, endowments, insurers and funds. For over 25 years, Coventry has been redefining insurance and has been a key driver behind the convergence of the insurance and capital markets. The firm is headquartered in Pennsylvania and operates throughout major financial centers worldwide. Coventry refers to the subsidiaries and affiliates of The Coventry Group, Inc., each of which is a separate legal entity.

For more information, please contact:

Stuart Wood

Director, Strategic Communications

Tel: +1-215-836-8314


Source: Coventry