Asia Asset Management – Some firms have one person as both CEO and CIO to stay lean in a competitive asset management industry. Paragon Capital Management (PCM) is a leading example of this approach.
In this interview, Paul elaborates on how PCM exemplifies this approach. Here are the key highlights:
- Growth and Performance: PCM has grown from a three-person team in 2017 into a firm managing over SGD 1.2 billion in assets today. Co-Founder & CEO Paul Lee, who also serves as CIO, personally oversees investments and client relationships — a model he says ensures accountability and close alignment with investors’ interests.
- Alignment of Interest: PCM’s portfolio managers invest their own wealth alongside clients, paying the same fees and sharing the same outcomes — whether positive or negative. The firm’s performance-based revenue model reinforces this commitment: if clients leave, fees stop.
- Singapore’s Strategic Position: As Singapore strengthens its position as a global wealth hub, PCM continues to focus on its home market while expanding into Thailand, Taiwan, and Hong Kong to serve both local and offshore investors.
- Industry Perspective: While some governance experts caution about potential conflicts in dual CEO-CIO roles, Singapore’s regulatory framework allows the model with appropriate controls.
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Credit: Asia Asset Management (By Elaine Chan)