Ex-Citi bankers set to launch HK-based Asia firm

HONG KONG, Nov 4 (Reuters) - Amias Berman & Co, an agency broker, set up by two ex-Citigroup (C.N: Quote, Profile, Research) veterans, is expected to gain regulatory approval from the Hong Kong authority to start up their Asian operations with 15 staff over the next few days.

The brokerage, a fixed income capital markets advisory and origination firm, will also set up shop in Singapore in the future, said co-founder Jeremy Amias. It currently has an office in London.

Amias and Charlie Berman hold a majority stake in the company, with ICAP Plc (IAP.L: Quote, Profile, Research), the world's largest inter-dealer money broker, having a minority stake.

"A lot of damage was done to the relationship between investment banks and their clients last year and it will take a long time to repair that," said Amias.

"So there is a pretty good opportunity for an independent firm like ours. And we also had the opportunity to hire some really good people."

Amias Berman was founded by Hong Kong-based Amias and London-based Berman who worked at Salomon Brothers and its successor Citi for the majority of their careers.

The firm gained UK regulatory approval for its international activities in early October and expects the green light from Hong Kong's Securities and Futures Commission in the next couple of days, Amias said.

Amias was head of fixed income, currencies and commodities for the Asia Pacific region at Citi when he left to join Noble in August 2007. He had spent 23 years at the U.S. bank and its predecessors such as Salomon. Berman co-headed European debt capital markets for the U.S. bank for much of the past decade.

The firm has hired a few ex-Citi bankers and has appointed Glen McDermott, former-head of structured credit products distribution for Asia Pacific at Wachovia Securities, as its global head of alternative assets.

Amias Berman was reported to be the sole adviser for the funding of Jamie's Italian Asia, a joint venture between celebrity TV chef Jamie Oliver's company and a Hong Kong-based management consultancy.