INVESTMENT writing specialist Copylab has entered the Australian market for the first time as it bids to increase revenue by 50 per cent in the current year.
Glasgow-based Copylab has rapidly expanded its global presence since opening its first international office in Boston in 2016. Its latest move is a new partnership with Sydney-based Lexicon.
Operating as part of the fast-growing company’s Asia-Pacific region, headquartered in Singapore, Copylab said the move was part of its wider ambition to be present in all financial centres around the world where its clients operate.
Working with global firms such as Blackrock, Standard Life Investments and Kames Capital, Copylab in the last two years has set up operations across Europe, and in North America, the Middle East, Singapore and Hong Kong.
Founded by Ross Hunter after he spent a decade working in-house for global financial services companies, Copylab’s team of more than 50 writers provides asset management and financial service clients with investment commentary, particularly reports on fund performance, and marketing content.
After launching in the US in March 2016, the company’s Asia office was opened three months later by Paul Lees before Kevin Jones joined him as regional chief executive of Copylab Asia, based in Singapore. The Australian operation will form part of the Asian hub.
With $1.6 trillion of assets and around 9,000 funds, Copylab founder Ross Hunter, said it was crucial for the business to be able to offer its services in Australia, and that teaming up with a local business allowed it to achieve presence quickly and effectively.
“Australia is number six in the world for investment funds so it’s an obvious place for us to be,” said Mr Hunter, adding that just less than half the business’ existing clients operate in Australia.
“The infrastructure [for that region] is built in Hong Kong and Singapore, and Australia is an opportunity to expand our reach into other markets that are important for big asset management clients of ours,” he said.
Copylab recently launched a partnership with Riyadh-based Advert One to gain a foothold in the Middle East, and the deal with Lexicon will work in the same way.
Lexicon develops content marketing strategies for financial services companies throughout Australia. Mr Hunter said that partnering with the business as opposed to opening an office in the country was mutually beneficial.
“It gives us access to the market quickly and cost effectively,” he said.
“We could set up an office in Sydney and hire a writer, but that’s going to be really expensive. We’re growing our business quickly in overseas markets so we’ve got our hubs, but outside of those hubs we’re happy to be opportunistic.”
He highlighted Lexicon’s current client list and market knowledge as attractive qualities for Copylab, while for its part, Copylab can offer scale to help Lexicon grow.
Copylab broke through the £2 million revenue mark last year, having grown seven-fold in the four years since expansion began.
“We’ve got ambitious targets for this year to grow by 50 per cent globally, with around half of that coming from the UK,” said Mr Hunter. “That’s still quite aggressive growth for the UK given it’s a mature market for us.
“The overseas business has only been going for 18 months and we have spent that time building awareness so we’re hoping this year is when we start to see the fruits of our labours.”
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