Cork and Hong Kong, 1st November 2018 – Global Shares – Deloitte ‘FinTech Company of the Year’ – and leading provider of equity compensation management solutions for global corporations, today announced that it will form a strategic partnership with Huanying International (Asia) Limited – one of the top online brokerage firms in Hong Kong and mainland China, to provide ESOP administration, share dealing, global compliance, financial reporting, and asset management services to new economy companies.
The deal will be worth more than USD 15M in revenue over the next 5 years and is being signed in the presence of Ireland’s Minister for Business, Enterprise and Innovation, Heather Humphreys, at the 2018 Hong Kong FinTech Week Conference.
Huanying International (Asia) Limited Partnership
The partnership, combining Huanying International (Asia) Ltd with Global Shares’ state-of-the-art ESOP administration software will set a new benchmark for ESOP administration in the Asian region. Huanying (Asia) will direct its ESOP clients to the services of Global Shares’ platform. Meanwhile, they will offer comprehensive and one-stop ESOP services to global enterprise customers together, proactively embracing the new economy.
Expansion and new Beijing office
Global Shares today also announced further expansion in Asia with the opening of a new office in Beijing, following the official launch of Global Shares’ Hong Kong Office earlier this year by Ireland’s Minister for Financial Services, Michael D’Arcy. The new office brings to 10 the number of Global Shares offices across the globe including New York, London, Munich, Cork and Hong Kong.
Global Shares has experienced dramatic revenue growth since the launch of its proprietary, cloud-based, global technology platform in 2015, enabling seamless equity administration to clients with employees across multi jurisdictions, time zones, currencies and languages. More than 250 blue-chip companies with employees in 100 countries use Global Shares to operate their employee share plans. Clients include pharmaceutical powerhouse GSK, Italian financial services firm Generali, the US’s largest privately-held corporation Cargill and British multinational enterprise software company Sage Group.
Global Shares’ Asia team will grow from six persons currently to 20+ within 12 months to support its rapidly growing operation. Total employee numbers have risen from 68 staff in 2015 to 200 staff currently, and a projected 450+ staff within 5 years.
Dr. David Deng (Ph.D., CFA), Managing Director of Huanying International (Asia) Limited, commented on the partnership:
“As a leading online broker in the region, Huanying (Asia) seeks to offer a broad range of services to our clients, as well as add value to our customer experience. Working with Global Shares is a great opportunity for us to extend our product line and use Global Shares’ state-of-the-art technology platform to deliver premium share plan administration services. Combining Global Shares tech solutions with the complete trading solutions from Huanying (Asia) means that clients will now be able to receive an all-round brokerage service for their share plans”.
Claudia Tsui, Head of Operations of Huanying International (Asia) Limited, commented on the partnership: “There are more companies than ever before starting to adopt employee share plans in this region. Global Shares’ software platform is by far the best we’ve ever seen in the market for employee share plan administration. We are excited to partner with Global Shares and bring share plan administration services to a new level in this region”.
Tim Houstoun, CEO of Global Shares, commented:
”As part of Global Shares’ Asia growth strategy, we are very excited at the opportunity to work with Huanying International (Asia) Limited, whose clients will benefit from our world-leading equity plan management software solutions, our team of expert local staff in Asia and our commitment to service excellence. Huanying International (Asia) Limited is a great partner for us to position the Global Shares’ brand in this important growth region, accelerating our company’s long-term strategic expansion and value creation plan”
Tim Houstoun will be spending several weeks in Hong Kong and China following the signing of the deal with Huanying International (Asia) Limited to develop the partnership as well as attend a series of meetings and networking events with the new Global Shares Asian Team.
Andy Wu, General Manager and Vice President, Global Shares Asia: ” The market response to Global Shares equity compensation management solutions has been extremely positive. We are winning a lot of new business on the strength and depth of our product offering and cloud-based software, which is continually being developed 100% in-house by our team of 20+ IT Development Engineers. We are very excited to partner with Huanying International (Asia) Limited to grow our client base in Asia. We are equally excited to expand our physical presence here through the establishment of a new office and team in Beijing “
Hong Kong FinTech Week Conference
Global Shares will exhibit at the 2-day 2018 Hong Kong FinTech Week conference as part of a delegation of 12 of Ireland’s top FinTech companies under the umbrella of ‘Enterprise Ireland’ – the government organisation responsible for the development and growth of Irish enterprises in world markets. The conference attracts approx. 8,000 senior management attendees from across Asia as well as 200+ speakers and 250+ media.
Conference name: 2018 Hong Kong FinTech Week
Venue: Hong Kong Convention & Exhibition Centre
When: 31 October and 1 November 2018
The deal signing ceremony in the presence of Ireland’s Minister Humphreys and Enterprise Ireland’s CEO at Hong Kong FinTech Week Conference
Heather Humphreys, Ireland’s Minister for Business, Enterprise and Innovation, and Julie Sinnamon, CEO of Enterprise Ireland, are attending the conference to coincide with Enterprise Ireland’s participation in Hong Kong FinTech Week, and as photographed above officiated the signing of the new deal between Global Shares and Huanying International (Asia) Limited
Mo Harvey, Enterprise Ireland, Financial Services & FinTech Lead, Asia-Pacific, Mo Harvey, commented:
“I am delighted to see Global Shares, a company backed by Enterprise Ireland, expand further in the Asia region. It is a great example of how an Irish company supported early on in its development can go on to create high-quality technology and financial services jobs at home and scale into an international success story. I look forward to working with the team here in Asia and supporting their continued growth and success, proving Ireland’s fintech sector is capable of creating great companies who can win blue-chip customers on the global stage.”
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About Global Shares
Global Shares, Winner of the Deloitte ‘FinTech Company of the Year’ Award, is a leading global provider of equity compensation management solutions, providing share plan administration, global custody, share-dealing and financial reporting services to companies and their employees in over 100 countries worldwide.
Over the past decade Global Shares has experienced dramatic growth, having developed a highly innovative cloud-based software & service solution for private and public companies of all sizes to manage their employee equity plans. Its proprietary, global technology platform enables seamless service to clients with employees across jurisdictions, time zones, currencies and languages. Global Shares’ clients include some of the largest and best-known companies in the world, including Cargill (US), GlaxoSmithKline (UK), Sage (UK), Generali (IT) and many more.
The Global Shares platform is developed 100% in-house, and a highly skilled team of equity professionals deliver the highest levels of service with a personal touch. Global Shares software and services have set a new benchmark for the global share plan administration industry. Global Shares is headquartered in Ireland, with offices in Hong Kong, China, Germany, Portugal, the United Kingdom and the United States.
About Huanying International (Asia) Limited
Huanying International (Asia) Limited (“Huanying (Asia)”) is one of the global leading internet brokers incorporated in Hong Kong 2016, offering a wide spectrum of financial products and services. To set up the core values as FinTech innovation, Huanying (Asia) is dedicated to providing securities trading and other integrated financial services in local and oversea markets, serving the best interests of investors, and being a gateway to flexible global asset allocation.
About Enterprise Ireland
Enterprise Ireland is the government organisation responsible for the development and growth of Irish enterprises in world markets. We work in partnership with Irish enterprises to help them start, grow, innovate and win export sales in global markets. In this way, we support sustainable economic growth, regional development and secure employment.
About Hong Kong FinTech Week
Hong Kong FinTech Week is an initiative by the Hong Kong government to further bolster Hong Kong’s position as Asia’s financial capital and to shape the future of financial services by driving a technological revolution in the industry across Asia and globally. It is the key event in Hong Kong every year and attracts approx. 8,000 attendees (70% Senior Management), 200+ speakers and 250+ media. This is the first year where there will be a cross-border element as there will be some events taking place in Shenzhen, China’s Silicon Valley on Friday, 2 November.