Who we are

Richard Firth ASIP


Richard founded Firth Investment Management in 2007 having concluded that an independent specialist company provided the best environment in which to manage portfolios of Asian Smaller Companies. He has been in the fund management industry since 1987, invested in Asian equities since 1993 and lived in Asia since 1998. During an 18-year career at Schroders, Richard performed various fund management roles in the firms London, Hong Kong, Seoul and Singapore offices. These included managing a Korean equity country fund from 1995 to 2005, managing a corporate restructuring fund sponsored by the Korean government, Chief Investment Officer of Schroders Korea, and launching and managing the Schroder Asian Smaller Companies Fund in 2005. Richard has a Bachelor of Science degree in Financial Economics from Birkbeck College, London University, and is a Regular Member of the CFA Institute.
Germaine Chia


Germaine Chia joined our firm as Chief Operating Officer in 2016. She started her career with KPMG in Singapore and after qualifying as a Certified Public Accountant, she joined Citigroup in London as an Internal Auditor for the global markets business. In 2007 she joined their Private Bank and held a number of regional roles in Business Management, Product Strategy & Development and more recently, a global role in Product Management. After 10 years in London, in 2013, Citi relocated her to their Singapore office where she was the Global Product Manager for Mutual Funds and Segregated Managed Account portfolios, responsible for the distribution of investment products in LATAM, EMEA and APAC. She graduated from Nanyang Technological University (Singapore) and is a Chartered Accountant.
Dr. Hamish Macalister


Hamish is the Deputy CIO for Firth Investment Management, and portfolio manager of Firth Asian Systematic Equities Fund. Prior to joining Firth, Hamish was Head of Research for Maiora Asset Management, Head of Asia-Pacific Quantitative Strategy for both Deutsche Asset Management and Deutsche Global Markets and Head of Australian Strategy for Citigroup. Hamish also holds an Adjunct Faculty position at Singapore Management University, teaching a component of the Master of Science degree in Financial Engineering. Hamish has a Doctor of Philosophy degree in Finance, a First Class Masters degree in Economics and a Bachelors degree in Accounting and Finance.
Piang Sze Chua


Piang Sze is a Singapore citizen who has over 20 years experience in the investment management industry. She worked for Schroders from 2004 until 2012 during which time she spent two years as Richard Firths assistant on the Asian Smaller Companies Fund. Earlier in her career she was a regional economist at Standard Chartered Bank and DBS Securities and a stock analyst also at DBS. Her experience ranges from analysing Asian smaller cap listed companies to private equity and project management opportunities across a range of sectors and countries. She joined Firth Investment Management in 2014. Piang Sze graduated from Nanyang Technological University in 1992 with a degree in Business (Banking and Insurance) and is fluent in Mandarin Chinese.
Fraser Macdonald


Fraser joined Firth Investment Management in 2017 to focus on business development. Prior to joining Firth, he spent five years at BlueBay Asset Management LLP in London across a range of client service and new business development roles covering clients in the UK, Middle East and the global investment consulting community. Prior to BlueBay, Fraser spent three years at SVM Asset Management, a European equity specialist, in the institutional clients department. He holds a BA (Hons) degree in Accounting and Financial Analysis from the University of Newcastle upon Tyne, UK, the Investment Management Certificate and is a CAIA Charterholder.