Jack Siu, head of discretionary portfolio management, Asia at Lombard Odier, believes convertible bonds offer a unique combination of protection and performance.
Jack Siu has 19 years of investment management experience across asset classes, according to the report.
He was most recently managing director at Credit Suisse and its CIO Greater China, responsible for developing discretionary and advisory investment strategies.
Jack Siu obtained his Master of Science in Investment Management from HKUST Business School, and a Bachelor of Science (Honours) in Mathematics and Computer Science.
Jack Siu’s move to the wealth management industry was somewhat unconventional, starting in wholesale markets doing risk management and currency options trading.
He realized it wasn’t the right fit and began trading on his own, discovering a passion for ethical trading and investment strategy.
One early highlight was investing in Barclays stock just before the Qatari Sovereign Wealth Fund bought a stake in the bank, yielding a significant profit.
This experience convinced him that he had a knack for investing, which others also recognized as he shifted his career in that direction.
Later, he moved to Hong Kong to pursue a part-time master’s in investment management at HKUST, which opened new doors.
His first role in Hong Kong was as an investment analyst at Citi Private Bank, working under John Woods, now Asia CIO at Lombard Odier.
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Supporting the investment strategy business at Citi Private Wealth, he gained invaluable exposure to the entire investment process.
Over the years, he further expanded his expertise, particularly in the Asian local currency bond market.
This breadth of experience has given him a better understanding of how financial institutions operate and how best to serve clients.
Jack Siu’s career highlight is his progression from a vice president investment strategist at Credit Suisse to managing director and chief investment officer for Greater China.
His contributions in that role, particularly his media presence and investment calls, helped build both his personal brand and the business.
For example, on 6 Dec 2018, he publicly and accurately predicted the Hang Seng Index would hit 28,888 within 88 days by Chinese New Year, receiving significant media attention.
His current role at Lombard Odier has provided another opportunity to make an impact, establishing the team as a leader in discretionary portfolio management in Asia.
Jack Siu has learned that wealth management is not a one-size-fits-all business.
Clients from different countries and backgrounds have diverse attitudes toward risk and return, shaped by their personal history and the economic context they’ve experienced.
For instance, Japanese investors prioritize capital preservation, while Chinese clients typically have a higher risk appetite.
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Understanding these nuances is essential, and their job is to tailor solutions that fit each client’s unique needs.
Their approach is rooted in a disciplined process—the “House View”—which combines global expertise, top-down and bottom-up analysis, and robust risk management.
This structured process is the engine that allows them to deliver consistent, risk-adjusted returns for their clients, regardless of market volatility.
They are moderately pro-risk in their asset allocation, maintaining an overweight stance in equities, particularly emerging markets and technology sectors.
For a balanced risk profile, their typical allocation is approximately 45% equities, 30% bonds, with the remainder in alternatives such as gold and hedge funds.
They’ve favored convertible bonds for their defensive characteristics while still offering equity-like returns, which has worked well in the current environment.
In equities, they have deliberately overweighted technology and emerging markets, while remaining underweight in sectors such as UK equities and consumer discretionary.
Jack Siu’s two young children do a good job of keeping him up at night.
He’s fortunate to be part of a strong, globally integrated team, which means he doesn’t have to lose sleep over the markets the way he did earlier in his career as a trader.
Having a disciplined process and clear investment philosophy is critical, allowing clients to rest easy knowing their capital is being managed by a team with the experience and structure to handle all outcomes.
