16 Jan 2018 | 09.45 am
Global Shares Opens Hong Kong Office
Fintech company provides share scheme management
16 Jan 2018 | 09.45 am
Financial technology company Global Shares has opened an office in Hong Kong. The Asia office will initially have a staff of three, expected to increase to ten within six years.
Based in Clonakilty, Co. Cork, Global Shares’ online platform manages equity compensation for companies, with solutions including share plan administration, custody products, share dealing, financial reporting and others, aimed mainly at share compensation schemes for employees.
The new office is the company’s first base in Asia, bringing to ten the total number of Global Shares offices around the world, including New York, Dublin, London, Edinburgh, Lisbon and Munich. The company said that employee numbers have risen from 68 staff in 2015, to 150 staff now, with a target of 228 staff within 18 months.
The expansion comes on the back of client growth since the launch of its new software platform in 2015, with customers increasing from 150 to 250. The company says it has signed contracts with eight FTSE 100 companies since 2015 and its client list includes GSK, Skanska, Sage, UniCredit, Generali, Cargill, Noble Group, Giosis PTE Ltd and others.
Financial services minister Michael D’Arcy, who opened the office, said: “I would like to commend Global Shares for its ambitious and unwavering commitment to drive its international growth by opening this new Asian base to expand its reach directly into the market. Over the last three years Global Shares has achieved phenomenal global sales success, illustrating the potential of Ireland’s financial services sector to create highly innovative market-leading FinTech products as well as create high value, sustainable employment.”
Hong Kong general manager Dara Murphy (pictured) added: “With our new team in place we can now provide comprehensive on-site support to customers in their local language and time zone and look forward to forging new and deeper business links here.”
Global Shares recently won Deloitte’s FinTech Company of the Year award. Turnover at Global Shares Ireland Ltd increased by 20% to €4.5 million in 2016 , when the operating loss was €2.7 million. In 2016 the company raised €4.6 million in additional equity capital.