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Praemium expands Asian reach

Praemium’s Asian subsidiary has struck a deal with Chinese Dah Sing Bank to provide CRM, workflow and financial planning modules via WealthCraft.

“We are delighted to be assisting an important Hong Kong-based institution like Dah Sing Bank to enhance its wealth management proposition,” said Praemium chief executive Michael Ohanessian.

“Our client-centric WealthCraft solution will enable Dah Sing Bank to manage its clients in an integrated, visible and scalable way,” said Mr Ohanessian.

Dah Sing Bank was established in 1947 and its subsidiaries (Banco Comercial de Macau and Dah Sing Bank China Limited) provide banking and financial services through a branch network of around 70 branches across Hong Kong, Macau and the People’s Republic of China.

Dah Sing Bank and its subsidiaries controlled more than AU$18 billion in deposits as at 31 December 2013, with annual operating income in excess of AU$512 million.

The roll-out of the new Praemium service through Dah Sing Bank is planned for completion in 2015.