Stephen Moore and Christiaan van Beek will staff GFI Colliers. Moore has worked for GFI in both London and Hong Kong, most recently in Asian dollar bond markets. Van Beek moves from Colliers International’s commercial leasing division in Hong Kong.
Piers Brunner, managing director of Colliers International Hong Kong, said: “The Hong Kong real estate market is huge – the average annual turnover across all residential areas is around HK$320 billion [$41.1 billion]. Colliers International, working closely with GFI, can contribute in the development of a derivatives market on property prices.”
Jürgen Breuer, GFI’s senior managing director for Asia said: “GFI has been a prime mover in UK property derivatives, and we intend to replicate this success in Hong Kong. Derivatives will add a new dimension to this already thriving market.
“GFI believes they will enable faster, cheaper and more effective execution of asset allocation strategies, short-term hedges, risk transfer and geographical diversification,” he added.
Neither Colliers International nor GFI Group will take a principal position in derivatives trades arranged by GFI Colliers, said the companies.