Terrence Annamunthodo is an SFC-licensed financial adviser and a former lawyer. But it was not a typical career path that led to him becoming Managing Director at Perpetuum Wealth Management Ltd.
Born in Guyana in South America, Annamunthodo and his family moved to Canada in the early 1970s. He started working while still at primary school, delivering newspapers. As a high school student, he worked in a pizzeria.
“Along the way, there were a variety of other jobs,” he added. “I was a telemarketer, construction worker, dishwasher and cook.” He also worked as a crisis counsellor, tree planter and flight attendant.
“Perhaps the most physically demanding job was tree planting,” he said. “We would get paid by the tree and usually I would plant about 2,000 a day. After six weeks, I would have made enough to pay for my school fees and to afford a bit of summer travel.”
Amid all these jobs he managed to find time for study as well. He graduated from the University of Ottawa with a degree in psychology, and also qualified as a lawyer in Canada.
Working overseas appealed, and Annamunthodo taught English in Japan and practiced law and studied Chinese in Mainland China. He then decided to move to Hong Kong in 1994.
“I always believed I was destined to work in Asia. I have been strongly influenced by the success of the Chinese communities that I knew in both Guyana and Canada.”
Annamunthodo’s move into the financial advisory field came about as a result of a serendipitous meeting shortly after he moved to Hong Kong. He was invited to dinner by a private banker, who unexpectedly turned out have also worked as a tree planter. The banker expressed his interest in working together.
“Why? Because I was a tree planter, which meant I could suffer,” he said. “Indeed, it was with him that I started working in investment management. It was an outcome from tree planting that I could never have predicted. We were a start-up company and there was certainly some suffering in the early days.”
Annamunthodo established Perpetuum Wealth Management in 2009 as a multi-family office providing investment management services to individuals and families beyond their domestic borders.
“There is much to be said for having a dedicated group of lawyers, accountants, bankers and investment managers working on your behalf,” said Annamunthodo.
“Private bankers are not able to take on the management of a broad range of assets like real estate and, art and wine collections. We manage and oversee managers of all kinds of assets, wherever they are”
One of the key achievements of Annamunthodo’s wealth management career was helping a client sell his company for considerably more than the original offer. “Our client had received an offer from a business broker valuing the company at US$18 million. He heard about us and asked if we could assist. We were able to sell 75% of the company for US$33 million.”
The company’s logo is reflected in a piece of art that Annamunthodo bought after seeing it at an exhibition. “I took a photo and showed the staff,” he explained. “It also resonated with them, so I bought it.”
The unending figure-of-eight loop – known as a mobius loop – reflects both change and continuity, essential aspects of business success in the financial services world.
“In addition, the speed of the bikers is depicted, but they must retain their balance,” he added. “So much of the piece reflected our company’s values and services.”
Perpetuum Wealth Management joined the Chamber in 2009 with the objective of connecting with the business community in Hong Kong. “I need to travel around the region to see clients and I didn’t want to be disconnected to Hong Kong,” Annamunthodo explained.
Since joining, he has regularly attended the Chamber’s events to stay ahead of industry trends, and has taken part in HKGCC’s overseas missions to Myanmar and Iran.
Company: Perpetuum Wealth Management Ltd.
HKGCC Membership No.:HKP0489
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