Portfolio Managers

Louis-Vincent Gave
- CEO

Louis-Vincent Gave co-founded GaveKal in 1999 with his father Charles and Anatole Kaletsky. GaveKal started as an independent research firm and evolved in 2005 to include fund management and in 2008 to include data analysis services. Since 2005, Louis-Vincent has mostly focused on the money management side of the business. Before co-founding GaveKal, Louis-Vincent worked for Paribas Capital Markets where he was an equity research analyst from 1997 to 1999. In 1996 and 1997, Louis-Vincent served in the French Mountain Infantry Division as a Second Lieutenant. LouisVincent studied Economics, History and Chinese at Duke University and Nanjing University. In the past decade, Louis has written five books, including his latest "Too Different For Comfort", published in October 2013. 

Alfred Ho
- Head of Asian Equities

Alfred Ho has over twenty-five years of experience investing in Asian markets. Before joining GaveKal in 2006 as a partner, Alfred was the Chief Investment Officer for INVESCO Asia and was responsible for managing large retail and institutional portfolios. Alfred was the lead manager for the INVESCO GT Asia Enterprise Fund and initiated the launch of the first absolute-return driven product for the company - INVESCO Asia Alpha Fund in 1999. Prior to joining INVESCO, Alfred worked as an analyst with W.I. Carr in Hong Kong. Alfred graduated from the University of Wisconsin-Madison with a Bachelor of Science degree in Economics and a Master of Science degree in Finance. He is a holder of the Chartered Financial Analyst designation. 

Christine Cheung
- Head of Asian Fixed Income

Before joining Gavekal in June 2012, Christine worked for the Hong Kong Monetary Authority as a Portfolio Manager for the China rates and EM credit portfolio of the Direct Investment Team under the Reserves Management Department. Prior to HKMA, Christine worked in the Investment Banking Divisions of Credit Suisse and Citigroup, as well as a pan-Asia private equity firm. Christine graduated from Wharton School, University of Pennsylvania, majoring in Finance and Accounting. 

Chung Hui Lor
Portfolio Manager

Prior to joining Gavekal as a Portfolio Manager in October 2020, Hui worked at the Swiss National Bank for 12 years focusing on reserves management and monetary policy implementation in the foreign exchange market. In his last role at the SNB, Hui was the senior rates portfolio manager, managing the bank’s CNY and KRW rates portfolios for more than five years. Hui was also the deputy portfolio manager for the bank’s JPY, SGD and AUD rates portfolios. Before coming to Asia, Hui was the portfolio manager for the SNB’s GBP investment-grade credit portfolio and the deputy portfolio manager for the EUR investment-grade credit portfolio. Hui is a CFA charterholder. He graduated from the University of Zurich with a Master of Arts degree in Economics and Business Administration.

Operations

Marco Lai
- COO, CCO & CFO

Marco Lai has over eighteen years of experience in operational management and information technology. Previously, Marco was the Head of Information Technology (IT) at INVESCO Hong Kong where he was responsible for formulating IT strategy and rolling out corporate initiative projects, and was a director at QWORKSHOP HK, a software solution company. Marco has extensive experience in fund accounting systems, designing proprietary stock databases and building interfaces to external third party systems. He holds a Bachelor of Science in Business Administration from Boston University and a Master of Business Administration degree in Finance from California State University, Los Angeles.

Allison Creel
Allison Creel
Deputy COO & Compliance

Allison joined Gavekal in 2010. She graduated from the University of Oklahoma in 2006 with a Bachelor’s degree in Sociology-Criminology. After graduation, she travelled a bit before attending Oklahoma City University School of Law. Allison was previously the Client Relations Manager for Gavekal Research and Director of Development for the Gavekal Endowment. In 2017, Allison was promoted to Deputy COO which manages HR and Compliance across the firm.

Victor Luk
- Chief Risk Officer, Chief Technology Officer

Victor Luk joined GaveKal in 2005 where he had worked for the previous year as an intern. Between 2005 and 2012, Victor ran GaveKal’s quantitative research efforts. In 2013, Victor was promoted to heading risk analysis for all of GaveKal fund management strategies. Victor graduated from the Chinese University of Hong Kong in 2005 with a Bachelor’s degree in Information Engineering. He is a CIPM certificate holder. He is also a holder of the Chartered Financial Analyst designation and the Financial Risk Manager designation.

Sebastien Alfonsi
- Trader and Quantitative Analyst

Sebastien Alfonsi joined GaveKal in May 2013. Previously, Sebastien was an Equity Derivatives Trader for Commerzbank in Hong Kong, focusing on index arbitrage and developing the bank's ETF platform in Asia. Sebastien moved to Hong Kong in 2008 from Paris where he worked at Natixis as an Index Arbitrage and Statistical Arbitrage Trader. He graduated from l'Ecole Centrale de Lyon in France, majoring in Financial Mathematics.

Hayden Ng
- Data Analyst

Hayden Ng joined Gavekal in 2020 as Data Analyst. He graduated from the University of Hong Kong in 2018, with a bachelor’s degree major in Economics & Finance and minor in Accounting. After graduation, he joined LBN Advisers, a hedge fund, where he focused on equity trading with scope in Hong Kong and China market. He then moved to Macrobond Financial, a macroeconomic data provider as a Macroeconomic Data Analyst and focused on APAC economic data.

 

Wendy See
- Front Office Manager

Wendy has worked with Alfred Ho since 1997 and with Gavekal since 2006. Wendy is responsible for managing the firm’s corporate contacts. She holds a Bachelor degree in Business Administration from The Open University of Hong Kong and a Bachelor of Laws degree from the University of Wolverhampton. Wendy speaks English, Cantonese and Mandarin.

Estella Tsang
- Middle Office

Estella has been working in the financial industry for about 20 years. Previously, she served for more than 12 years at the Bank of East Asia, focusing on supporting the IT functions as well as the Internet Banking system projects and related compliance issues of the overseas branches. She has also worked in the Invesco Hong Kong providing back office IT operation support and has extensive experience in customer support of investment management system. Estella holds master degrees in Business Administration and Information Technology.

Analysts

Ray Heung
- Senior Credit Analyst

Ray Heung joined Gavekal as a Senior Credit Analyst in April 2021. Prior to joining Gavekal, Ray was the Head of Asia Sector Specialists at BNP Paribas and covered Asian financial institutions and Korean Corporates. Before joining BNP Paribas in 2009, he was a senior member of the award winning team at UBS from 2007-2009. Ray started his fixed income career with Morgan Stanley in 2004. Prior to his fixed-income research career, he was an equities analyst covering financial institutions for CLSA, HSBC and Donaldson, Lufkin & Jenrette Asia. He has been ranked in fixed income polls from FinanceAsia and The Asset magazine. He was also been ranked by Asiamoney and Institutional Investor during his equities-research career. Ray graduated with a BSc in Environmental Science from the University of Hong Kong in 1993 and received his MBA from the Hong Kong University of Science and Technology in 1995.

Jonathan Kok
- Credit Analyst

Jonathan joined Gavekal as a Credit Analyst in August 2016. Prior to joining Gavekal, Jonathan was a Credit Research Associate in the FI team at Fidelity International (HK) from 2012 to 2016, where he focused on analyzing corporates within the Asia Ex-Japan Industrials space. He graduated from Singapore Management University with a double Bachelor degree in Business Management (Finance) and Accountancy in 2012.

Angela Zhao
- Equity Analyst

Angela Zhao joined Gavekal in September 2016 as an equity analyst. Before joining Gavekal, Angela was a Hong  Kong China equity sales at Macquarie Securities. Previously, Angela was a structured product specialist at Bank of East Asia.  She graduated from Shanghai Jiao Tong University (Shanghai Advanced Institute of Finance) in 2013 with a Master of Finance degree, and Michigan State University in 2011 with a Bachelor’s degree in Business Administration.

Tom Chan
- Credit Analyst

Tom Chan joined Gavekal as a credit analyst in August 2021. Prior to Gavekal, Tom was an associate analyst in Corporate Finance Group at Moody’s Investor Service, supporting rating activities for various sectors including property, gaming and industrial companies. He also supported the Moody’s Greater China Research team for topical research including bond market development and corporate default studies. He joined Moody’s after graduation as a financial data analyst in 2018. Tom holds BSSc in Economics from the Chinese University of Hong Kong.

Arnaud Legland
- Equity Analyst

Arnaud LEGLAND is a graduate of ESSEC (Master in Finance, MSc), and a Certificate in Finance from HEC-Paris (Graduated with Excellence, A, Summer School program). During his schooling, Arnaud LEGLAND has benefited from a wide experience of international internships: Société Générale (London), Gavekal (Hong Kong), State Street IM (London), Tikehau Private Equity (London), Riverrock Capital Partners (London). Arnaud joined Gavekal as a permanent staff member in September 2017. He is an Equity Analyst, specialized in the Technology sector, and works directly with the fund managers. He usually visits Technology companies internationally. Arnaud LEGLAND has been a Member of the Young French Olympic Sailing Team for more than five years (420 class), and has a National sailing coach diploma. He won the 2012 European championship in Dinghy (Fireball Class).

Investors Relations

Arthur Blot-Lefevre
- Global Head of Distribution and Investor Relations

Arthur Blot-Lefevre, with 17 years of experience in finance, has extensive knowledge in asset management, distribution and investor relations. Prior to Gavekal, Arthur co-founded Celeste Capital, a volatility hedge fund, where he led the marketing and fundraising efforts with institutional investors, family offices and high net worth individuals.  Before this, Arthur worked for over 10 years at Dexia Bank in New York where he was originating long term funding for the bank and was in charge of investor relations. Arthur started his career in the US at HSBC Bank, where he was structuring asset leveraged financing.

Adriana Ordonez
Adriana Ordonez
- Investor Relations

Adriana Ordonez joined Gavekal’s Investor Relation team in February 2019. Previously, Adriana undertook internships at Comgest (Paris) and Bureau Veritas (Paris), beneficiating from a wide experience in Investor relations and asset management. She studied at Universidad Externado de Colombia in Bogota and graduated from Audencia Business School in France, with a major in Corporate Finance. 

Joyce Poon
- Fixed Income Product Manager

After graduating in business economics from University of California, Los Angeles, Joyce joined the Audit department of KPMG in Hong Kong, where she specialized in providing assurance related services to commercial banks and retail investment funds. With five years experience in public accounting, she left to help setting up a private equity company, with responsibility for fund administration and operations. In January 2006, Joyce moved to Gavekal, where she oversaw coverage of Asian economies and markets before becoming product manager for Gavekal Fixed Income products. She is a Certified Public Accountant in California (but we do not hold that against her) and a Chartered Financial Analyst. Joyce speaks English, Cantonese and Mandarin.

Information Technology

MK Ho
- IT Engineer

MK Ho has over 10 years’ experience in programming and Linux environment. He worked in ChungNam Electronics for 8 years where he specialized in programming and integrating third party solutions in RFID software and facility. He holds a Bachler degree of  Computer Engineering from City University of Hong Kong. He speaks English and Cantonese.

 

Alice Ni
- Full Stack Web Developer

Alice Ni joined Gavekal in August 2020, serving as a full-stack web developer. Before joining Gavekal, she was a backend design engineer in Artificial Intelligence and Big Data Analytics at Hong Kong Applied Science and Technology Research Institute. She graduated from Hong Kong University of Science and Technology with a Master of Science in Information Technology in 2016 and VIT University, India with a Bachelor of Science in Computer Science in 2015.