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Senior Officers

Michael Chen, CEO
Michael (Changyao) Chen, CEO

Michael Chen is a co-founder and the Chief Executive Officer of EM Capital Management (Hong Kong) Limited.  He holds a Master of Economics degree from Hubei University and earned a fellowship to study financial markets in the United States. 


Mr. Chen has over twenty five years experience in China's financial services industry and has held senior positions with a number of large Chinese securities and banking firms, including Ping An Securities. He has led investment banking teams in China for transactions across many key industries.  


Mr. Chen provides strategic business and financial advice to senior managers and company board members. His proprietary relationships and network provides the firm and our clients with extraordinary insights to China's dynamic economic growth and its leaders.


Mr. Chen resides in Shenzhen, China and travels extensively meeting with clients, developing new business, performing due diligence and managing EM Capital and client projects.  Mr. Chen and Mr. Freeman have worked together for over ten years

Seth R. Freeman, CIRA, Chairman

Seth R. Freeman, CIRA, is a co-founder of EM Capital Management (Hong Kong) Limited and is the president of EM Capital Management, LLC, based in San Francisco.   He holds an International MBA from Thunderbird is a Certified Insolvency & Restructuring Advisor. (


Mr. Freeman has over thirty years experience in a variety of entrepreuneurial management roles involving emerging and frontier markets, asset management, private equity, asset-based financing, 40 Act investment companies, equities portfolio management, real estate, distressed assets and restructuring and insolvency services. His work has brought him to Mexico, Guatemala, India, Vietnam, Malaysia, Dubai and China.


Mr. Freeman appears regularly on Bloomberg TV, CNBC and CNBC Awaaz (India) and has been an invited speaker at numerous investment industry conferences and MBA programs at Haas UC Berkeley, Harvard, Wharton, Booth School of University of Chicago, Columbia, NYU and Thunderbird.


Mr. Freeman is qualified as a Delegated Lender for the US EXIM Bank and as a lobbyist of the California State Legislature.


Dr. Lincoln Y. Rathnam, CFA

Dr. Rathnam is a co-founder and Managing Director of EM Capital Management (Hong Kong) Limited.  He earned his MA and PhD at Oxford and is a Chartered Financial Analyst charter-holder.


Dr. Rathnam has over thirty five years experience in investment management, a majority of time related to emerging and frontier markets.  Prior to his work with EM Capital Management Hong Kong, he was a co-portfolio manager with Mr. Freeman of EM Capital Management's India-focused 40 Act mutual fund.  Prior to his affiliation with EM Capital Management, Dr. Rathnam launched and managed the Singapore branch of BCP Securities.  He resided in Singapore for approximately three years, traveling throughout South East Asia.  Dr. Rathnam had a long career at the investment management company owned by CIGNA Insurance where he created and managed emerging markets products and funds.


Dr. Rathnam resides in the Boston area.  He is a contributor for Euromoney magazine and other investment related publications.  Dr. Rathnam is a past director of the Boston Investment Analysts' Society.


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