Published by Asia Asset Management – 23rd Nov 2018
Alvin Tay, regional head for Asia at Boston-based Cambridge Associates, has resigned and will leave the company at the end of the year.
The news was shared with Asia Asset Management (AAM) by a person familiar with the matter and confirmed by a spokesperson for Cambridge Associates.
The company “wishes Mr. Tay well in his next endeavour and is grateful for his contribution to building Cambridge Associates’ substantial and important operations in Singapore and Beijing”, the spokesperson tells AAM, adding that the resignation is effective end-2018.
The spokesperson, who did not say why Mr. Tay is leaving, says the company is not looking to replace him. His responsibilities will be taken over by Cambridge Associates Asia managing director Aaron Costello, who will be assisted by Prabhat Ojha, another managing director.
Mr. Costello “will assume Asia leadership responsibilities” and Mr. Ojha will “work alongside Mr. Costello and oversee the firm’s work with private clients and other institutional-scale clients in the region”, the spokesperson says.
Mr. Costello and Mr. Ojha are both based in Singapore, as is Mr. Tay.
Mr. Tay joined Cambridge Associates in 2007 as senior investment consultant and was appointed head of the Singapore office in 2010. He was promoted to managing director and head of Asia in 2014.
He previously worked at Belgium-based Euroclear Bank and the Monetary Authority of Singapore, the city state’s central bank.
Cambridge Associates had US$30 billion of assets under management at the end of 2017
