Representatives of Greenwich’s Sister City, Hangzhou, to Visit Town

Members of the Greenwich First Selectman’s Economic Advisory Committee (EAC) will welcome a delegation of government and financial leaders from Hangzhou, China for a ceremonial signing of a resolution announcing Sister City status between Hangzhou and Greenwich.

Greenwich First Selectman Peter J. Tesei will greet the delegation of a dozen special guests, led by Tao Guo, Secretary General of Zhejiang International Hedge Fund Talent Association, at 11 a.m. on Tuesday, May 23, in the Town Hall Meeting Room, 101 Field Point Rd.

As Sister Cities, Greenwich and Hangzhou are seeking to promote social, cultural and commercial relationships that will broaden and strengthen ties, developing cooperation through initiatives and projects that increase awareness that both cities are global financial centers.

A group of Chinese journalists visited Seattle, Wash., California’s Silicon Valley and Greenwich in 2013 and were guided by the future “fund town” architectural development team that provided first-hand impressions of what to emulate for returning ex-pat North American-educated Chinese so they could replicate living and working environments here in the United States.

Two features of Greenwich stood out: 1) proximity to an urban center while remaining a location that offers an outstanding lifestyle setting with diverse commercial facilities; and 2) a concentration of industry leaders, financial figures and wealthy, high net worth residents.

Greenwich, ranking third globally in concentration of 380 hedge funds managing $350 billion in assets, became the model for developing Shangcheng, China’s first investment management commercial park, as a “fund town” just outside Hangzhou, which is home to China’s largest stock exchange. It is similar to Greenwich in that it is a fast-train ride from financial hubs such as Shanghai and New York City with a high standard of living away from urban bustle.

In the fall of 2016, there was a reciprocal fact-finding visit. Chairman of Greenwich’s First Selectman’s Economic Advisory Committee James Aiello, Greenwich business consultant Bob Lardon, and Bruce McGuire, founder and president of the Greenwich-based Connecticut Hedge Fund Association, attended a conference on Global Alternative Investments hosted by the People’s Government of Zheijang Province and the Asset Management Association of China. The trio were guests and participated in a panel discussion on Fund Town Investment Environment.

The Economic Advisory Committee members returned with a desire to propose to Greenwich’s Board of Selectmen that it create an ongoing relationship with official status as a “sister city.” The May 23rd resolution signing ceremony between Hangzhou and Greenwich is expected to mark the start of promoting cultural and commercial ties with a “sister city.”

Greenwich First Selectman’s Economic Advisory Committee – Membership Roster
James Aiello (Chair) – Real Estate and Investments
Luke Albright – Securities Industry
Nick Barile – Real Estate Development
Christine Georgopoulo – Fine Arts and Real Estate
Donald Heller – PR and Marketing (Retired)
Robin Kencel – Real Estate Brokerage and Marketing
Tamara Ketler – PR/Marketing
Jay Madia – Securities Industry
Frank McBearity – Greenwich Chamber of Commerce
Bruce McGuire – Hedge Fund Industry
James Ritman – Commercial Real Estate Brokerage
John (Casey) Roach – Securities Industry
Sabine Schoenberg – Real Estate and Marketing
Paul Settelmeyer – Nonprofit Executive and Commercial Banking (Retired)
Catherine Sidor – Nonprofit Executive

The Connecticut Hedge Fund Association. CTHFA, was founded in 2004 and regularly holds industry-focused conferences in Fairfield County. Its mission is to promote a favorable business climate for hedge funds operating within Connecticut and to provide networking and educational forums for its members and invited guests. www.connecticuthedgefundassociation.org

The Chinese Hedge Fund and Talent Association is sponsored by the Finance Office of the Zhejiang provincial government and is headquartered in city of Hangzhou. The HTA is China’s largest body of senior hedge fund portfolio managers and influential figures in the asset management industry. www.cnhta.org