JARDINE Fleming's investment management business has enjoyed impressive expansion over the past few years, managing director Henry Strutt said recently.
The increases were seen in 'volume of funds under management, product diversity and geographical coverage'.
It may sound like a celebration, but Mr Strutt was speaking as the firm announced yet another top-level fund management resignation in the wake of collapsing profits and a regulatory investigation.
JF Holdings also faces problems relating to its brokerage arm as turnover in most Asian markets slumped last year and profits are well down.
JF claims it increased market share but admits the brokerage's results were affected by the lack of turnover.
Director Colin Hermon is moving back to Robert Fleming in London and is to be replaced by a former Barings executive, Russell Julius.