More moves and appointments in the Asia-Pacific wealth management sector.

Singapore-headquartered Kamet Capital Partners, a single family office that was launched recently, has appointed former Morgan Stanley man Derek Tay as its chief operating officer, it confirmed to this news service yesterday.

Tay had been executive director, head of Southeast Asia equity sales trading, for four years, spending a total of 11 years at the US-listed firm, he said in a phone call.

Kamet Capital was founded by former Julius Baer senior banker Kerry Goh, who holds the titles of chief investment officer and chief executive, according to his Linkedin profile. At Julius
Baer, he was head of portfolio management for Asia from May 2010 to February 2017. Before that, Goh was a senior portfolio manager at UBS.

The creation of such a business is part of a trend of bankers breaking away to create independent investment businesses along different lines. For example, EightStone, a private investment office, made a senior hire recently. This publication has carried out a regional analysis of the external asset management sector (see here). Players in this area include Thirdrock, Abacus Capital, Swiss-Asia Financial Services, Taurus Family Office and Crossinvest.