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SCMP Reporter

Globalisation means that even when you are a small fish in small pond, you still have to respect the rules of the big crocodiles out there.

A small Hong Kong  wealth management firm that failed to trademark its name has learned that the hard way after being forced to change its name by a giant US hedge fund with the same  name.

Five years after Hong Kong firm Bridgewater was  founded in 2000 chief executive Stephen Gallop  was a guest expert on US-based international financial news network CNBC.

His appearance, and the name of his firm, was spotted by  someone at Bridgewater Associates, a Connecticut-based hedge fund founded in 1975 and which has US$165 billion under management. It  contacted Mr Gallop's firm, threatening it with a lawsuit if it did not change its name.

The US firm had obtained a trademark on the name a few years after the Hong Kong Bridgewater began operating.

'Rightly or wrongly, I got the feeling we were expected to give in quickly,' Mr Gallop wrote in a May 7 letter sent to his clients about the name change. 'Those close to me suggested that my hair might now be receding and, if true, I blame it on this stressful period.'

Bridgewater Associates  was not available for comment.

Mr Gallop's firm in 2004 had researched the need to trademark the name but  was misadvised that it was too common a name to trademark and that trademarks were  needed only in the case of brands and specific products.

'If you think your company is going to be successful, you need to protect your name,' he said.

The two sides have come to a confidential agreement, in which Hong Kong's Bridgewater is becoming Tyche Group, named  after the Greek goddess of wealth and good fortune.

While business suffered as senior managers were distracted by the case, the  firm continued to boom.

'Hong Kong is still Hong Kong after all. Last year was the best year we've ever had,' Mr Gallop said.

'My sentiment initially was to be extremely offended but then we were able to negotiate something that we're happy with.'



Tyche touch maintains luck despite new name