An exceptional team pursuing excellence in Asian equity investment

Our Founding Partners established Indus in 2000 after previously having worked and invested together in Asia. They shared a vision for creating a firm that could adapt alongside the markets in which they invested. In that spirit, Indus continues to nurture a partnership culture, fostering the infusion of new perspectives over time.

investment team


Managing Partner / PM, Pan-Asia Long/Short Strategy


Partner / PM, Pan-Asia Long Only Strategy


Partner / PM, Indus Japan Strategies


Partner / PM, Indus China Strategy

Byron Gill is the Managing Partner and a founder of Indus Capital with responsibility for managing the Pan-Asia Long/Short Strategy. Mr. Gill has been analyzing and investing in Asian equities for over 20 years, and managing the Pacific Opportunities fund since inception. Prior to starting Indus Capital, Mr. Gill headed Soros Fund Management's Tokyo office. Before this, Mr. Gill was a research analyst following Japanese retailers and consumer goods companies at Salomon Smith Barney (Japan) and at SBC consumer goods companies at Salomon Smith Barney (Japan) and at SBC Warburg (Japan) for 6 years. 

Mr. Gill, a CFA charterholder, majored in Economics at Brandeis University where he graduated magna cum laude in 1991 and also spent a year at Keio University in Tokyo as a Rotary Scholar. Mr. Gill was born in Japan and is fluent in both spoken and written Japanese.

John D. Pinkel is a Partner of Indus Capital, based in San Francisco, and the Portfolio Manager of the Pan-Asia Long Only Strategy since its inception in 2009. Mr. Pinkel joined Indus Capital in March 2003. He spearheaded many of the firm’s key investments in greater China, including A shares (from 2003), and early investments in Ping An (2004), Tencent (2004), TSMC (2006), AIA (2010), and Alibaba (2014). He joined from Citigroup where he was Managing Director and Head of Equities in the Taipei branch. Prior to joining Citigroup, he spent eight years as a securities analyst in Hong Kong, China and South Korea. In total, Mr. Pinkel lived and worked in Asia for 24 years.

Mr. Pinkel, a CFA charterholder, graduated from the University of California, Santa Barbara, with a BS in Applied Mathematics. He spent the academic year of 1990-1991 at the Stanford Center in Taipei (Inter-University Program for Chinese Language Studies). He is fluent in Mandarin Chinese.

Howard Smith is a Partner of Indus Capital, based in San Francisco. Mr. Smith is the Portfolio Manager for the Indus Japan Strategies. Mr. Smith has worked in the investment industry in Japan for over 20 years.

Mr. Smith joined Indus Capital in April 2002 from ING Barings where he worked in their Tokyo research department from 1997 to 2002 as a senior analyst. Prior to ING, Mr. Smith was a macroeconomist and country analyst with regional specialization on North-east Asia for the Economist Intelligence Unit in London from 1993 to 1997. He began his career in 1990 at Nomura Research Institute in Tokyo where he was an editor/economist.

Mr. Smith, a CFA charterholder, earned his BA in Economics and Statistics at the University of York in the U.K. in 1988 and his MSc in Economics at Birkbeck College, at the University of London in the U.K. in 1996. Mr. Smith is fluent in Japanese.

Cindy Chi is a Partner of Indus Capital, and the Portfolio Manager of the Indus China Strategy. Ms. Chi joined Indus Capital in 2015 from Ashmore Equity Management (“AEM”), where she was lead portfolio manager of a China-dedicated fund and Emerging Markets funds. Ms. Chi previously worked at Emerging Markets Management (“EMM”), acquired by AEM in 2011, as an analyst, co-portfolio manager and portfolio manager since 2004. Prior to EMM, Ms. Chi worked at Boston Consulting Group in Shanghai, China. Ms. Chi, a CFA charterholder, obtained her MBA from Harvard Business School. She also holds a Master in International Relations and Pacific Affairs from the University of California, San Diego. She holds a B.S. in Material Science and a B.A. in Chinese Linguistics from Tsinghua University. Ms. Chi is a native Mandarin speaker and is conversational in Korean.

Tariq Ahmad

CFA, Partner / PM, Global Emerging Markets Strategy

Ben De Somma

Partner / Head Of Research

David Fujisaki

Partner / Senior Analyst

Anh Do

Partner / Senior Analyst

Tariq Ahmad is a Partner of Indus Capital and the Portfolio Manager for the Global Emerging Markets Strategy. He has over 30 years of investment experience in Asia and Emerging Markets and has lived and worked in India, the Middle East, Singapore, Canada and the US. Mr. Ahmad joined Indus Capital in July 2012 from Tantallon Research US Inc., where he served as President from April 2006 to May 2012. Mr. Ahmad spent 11 years at the Abu Dhabi Investment Authority, where from April 1999 to August 2004, he served as Chief Investment Officer of Asia Pacific equities, and was Senior Fund Manager for Asian Equities between 1988 and 1994. He was a director at Sceptre Investment Counsel in Toronto from 1994 to 1998, where he was responsible for Asian and Emerging Markets and has worked with Saudi American Bank/Citibank in managing global equities.

Mr. Ahmad, a CFA charterholder, was a member of the Institute of Chartered Accountants of India. He graduated from St. Xavier’s College, Calcutta University, with B.Com. (Hons) in 1979, and received an MBA from Case Western Reserve University in 1983.

Ben De Somma is a Partner of Indus Capital, based in San Francisco. Mr. De Somma has over twenty years of experience working in Asian financial markets, of which 17 years are on the buy-side. Mr. De Somma was one of the original founding partners of Indus in 2000 and spent 12 years conducting corporate and sector research from Indus’s Hong Kong and San Francisco offices. After a three year sabbatical, Mr. De Somma re-joined Indus in early 2016 to bolster its Asian equity research efforts.

Prior to Indus, Mr. De Somma was responsible for the Asia ex-Japan equity research efforts of Soros Fund Management. Mr. De Somma joined Soros in 1995 and helped establish Soros's Hong Kong office. Prior to joining Soros, Mr. De Somma worked as a junior level investment banker for Lehman Brothers from 1990-1995, initially in New York and later in Hong Kong.

Mr. De Somma graduated cum laude with a B.S. in Economics from Georgetown University in 1990.

David Fujisaki is a Partner of Indus Capital and senior research analyst for the Indus Pacific Opportunities Fund. He is based in the Indus Hong Kong office and primarily researches North Asian companies with a focus on Japan, Korea and Taiwan.

Mr. Fujisaki joined Indus Capital in 2010 from Apiana Investments, where he was a Partner and Analyst for the Apiana Japan Long/Short Fund. Before joining Apiana in 2007, he was a Senior Analyst at FrontPoint Partners in Tokyo from 2005 to 2007 and American Century Investments in New York from 2002 to 2005.

Mr. Fujisaki graduated from Carleton College in 2001. Mr. Fujisaki is fluent in Japanese.

Anh Do is a Partner of Indus Capital, based in New York. She is the Head of Pharmaceuticals and Biotech investment. Ms. Do was named 50 Leading Women in Hedge Funds 2020 by the Hedge Fund Journal in association with E&Y.  

Ms. Do is a member of Morgan Stanley's Women's Investment Roundtable and serves on the Board of Vietnam Finance Society. 

Ms. Do joined Indus straight after graduating from college in 2006. She grew up in Vietnam, studied A-level in the UK and has a B.A. in Economics and Political Science from Bowdoin College.

Michael Conway

Partner / Head Of Capital Markets

Michael Conway is a Partner of Indus Capital, based in New York. He heads the Firm’s activities for Equity Capital Markets, and also holds the responsibility for managing the Firm’s overall relationships with its Investment bank/broker counterparties. Mr. Conway joined Indus Capital in 2013 after having spent many years in the International equity sales and trading business. His more recent history prior to joining Indus was spent representing both Chinese and Indian brokers looking to gain distribution footholds with the U.S institutional investor (2009 – 2013). The majority of Mr. Conway’s pre-Indus career was spent at Bear Stearns Inc., where from 1993 through 2008, based in both Hong Kong and New York, he ran their Asian sales and trading platform. He started his banking career at Smith Newcourt PLC in London in 1987 as a market-maker in Asian stocks, transferring to their Hong Kong office to run trading when the firm expanded its activities there (1989-1993).

Mr. Conway attended Wellington College, a secondary school in the U.K. 1977-1982. He currently serves as a Board trustee for the Big Brothers Big Sisters Charity of New York City.

business team

James Shannon

Senior Partner / Chief Executive Officer

Matthew Sippel

Senior Partner / Head Of Client Services

James Weiner

Partner / Chief Operating Officer & Chief Financial Officer

Jennifer Barb

Partner / Client Services

James Shannon is a founding Senior Partner, Chief Executive Officer and Management Committee member primarily responsible for the management of all non-investment activities, and is a central point of execution at the Firm. Prior to his role as Chief Executive Officer, Mr. Shannon served as the Chief Operating Officer from October 2012 to October 2020 and before that, as the head of the global trading team from December 2000 to October 2012. Mr. Shannon has over 25 years of experience in global equity and derivatives markets. 

Prior to Indus Capital, Mr. Shannon was at Soros Fund Management (“SFM”) from 1996, initially as its head of real-time Asia ex-Japan Equity Trading and later with the added responsibility for the Japan Equity Desk. Before this, he headed International Equity Trading for Pension, Mutual Funds and Customer Accounts at GE Investments. He began his career in 1986 working in Trade Clearing and Customer Operations at Wagner Stott Clearing Corp.

Mr. Shannon earned a B.S. in Finance from St. John’s University in 1987.

Matthew Sippel is a Senior Partner in charge of business and strategic development for Indus Capital. Mr. Sippel is a member of the firm’s Investment Committee and Management Committee and is the asset allocator for the Indus Omni Fund.

Prior to joining Indus Capital in May 2004, Mr. Sippel was with Merrill Lynch as the Managing Director and Head of Asia-Pacific Equity Sales since 1994. Before moving to Merrill Lynch, Mr. Sippel worked in Hong Kong and New York for Jardine Fleming, as Director of Asia-Pacific Equity Sales. Mr. Sippel began his career at Crosby Securities Ltd. in Hong Kong as an equity analyst covering Hong Kong and Singapore based real estate and conglomerate sector companies.

Mr. Sippel, a CFA charterholder, graduated as a George F. Baker Scholar with a BA in American Studies from Georgetown University. He is on the Board of Regents of Georgetown University and serves as Board Co-Chair for the George F. Baker Scholar Program of Georgetown University.

James Weiner is a Partner, Chief Operating Officer, Chief Financial Officer and Management Committee member of Indus Capital. With the combination of these roles, Mr. Weiner has a well-integrated view of Indus’s Operations and Finance activities. Mr. Weiner oversees fund and corporate accounting, trade operations and tax, as well as supporting various strategic initiatives. Prior to joining Indus Capital in 2005, Mr. Weiner was a Vice President at BlackRock, Inc, a publicly-traded investment advisor, where he was responsible for their SEC reporting, accounting policy and support of M&A initiatives and new investment products. Mr. Weiner began his career at Ernst & Young in its asset management practice, focusing on publicly traded investment managers, private equity funds and hedge funds.

 Mr. Weiner graduated magna cum laude from Binghamton University in 1997.

Jennifer Barb is a Partner at Indus Capital, based in New York, working in the client services group. She joined Indus in January 2012. Ms. Barb has over 25 years’ experience in Asian and Japanese equities and worked in the Asia-Pacific region for over 20 years, based in Singapore, Hong Kong and Tokyo.

Prior to joining Indus, Ms. Barb was a Senior Institutional Equity Salesman at Macquarie Securities in Tokyo and Singapore. Her career has encompassed several other key roles in research, distribution, and portfolio management in Asian equities. These include: Head of Japanese Equity Product Management at Lehman Brothers in Tokyo, Japanese Equity Sales at Lehman Brothers in London, Regional Strategist at CLSA in Hong Kong and Head of Private Clients at Rothschild Asset Management in Singapore. Ms. Barb began her career as a Japanese equity analyst in London in 1984.

Ms. Barb holds an M.A. in Law from Clare College Cambridge, is a CFA charterholder and a CAIA charterholder. She is a member of the New York Society of Security Analysts.

non-executive chairmen

diversity and inclusion

As a truly global organization, Indus excels because of the very diversity we bring together, across geographies and international cultures. Understanding regional context is a lens we apply not only in our investment process, but to our people as well. We are dedicated to the importance of human capital in the equation of investment management: from respecting the variety of our backgrounds to creating equal opportunities to leverage the advantages of cognitive diversity.


Professional development is a hallmark of our history as a firm, and our success begins with the hiring of talented, skilled individuals who can contribute to our bottom line and help us cultivate an unwavering commitment to serving our clients.

Specific current job opportunities may be highlighted from time to time on this page. Additionally, if you wish to contact Indus to explore potential career opportunities, please feel free to send an email to