Dr Jim Walker

Founder and Chief Economist
(852) 3950 0066

Jim Walker is the Founder and Chief Economist of Aletheia Capital (Hong Kong) Ltd, an economic, corporate and technical analysis research and consultancy company formed in late 2007 which primarily serves the fund management industry.

Prior to establishing the company in December 2007 he was the Chief Economist at CLSA Asia- Pacific Markets. He joined CLSA in late 1991. Over the years Dr Jim achieved numerous ‘Best Economist’ rankings in the Asiamoney, Institutional Investor and Greenwich surveys of fund managers. In 1995 he wrote about the prospect of Asia being forced off its de facto dollar peg “within the next two-three years”. The Asian Crisis, precipitated by the Thai baht devaluation, began in July 1997. In the last few years he is best known for forecasting the US 2007 downturn and financial sector meltdown in his series of ‘Apocalypse’ reports.

In the last few years he has developed an approach to analyzing economies, primarily in the Asian region, based on profit and credit cycles. Application of this approach allowed him to call early the upswing in the Indian stock market in the final quarter of 2013.

Before coming to Asia, he worked in his native Scotland as a research fellow at the Fraser of Allander Institute for Research on the Scottish Economy, and then at The Royal Bank of Scotland’s Edinburgh headquarters. At the latter he covered the Scottish and US economies for the bank as well as the oil industry. Between 1998 and 2002 he was a Visiting Professor at the University of Strathclyde, Glasgow. He holds a Bachelor of Arts Honours degree and a doctorate in economics from the University of Strathclyde, Glasgow.


Sharmila Whelan

Deputy Chief Economist

Sharmila Whelan joined Aletheia Capital (Hong Kong) Ltd as Deputy Chief Economist in 2012.

Previously, Sharmila worked in Hong Kong as Regional Economist for Bank of America Merrill Lynch. Between 2005 and 2010 she was with CLSA, also in Hong Kong, covering Japan, India, Korea, Taiwan, the Philippines and Europe. Prior to that Sharmila worked as a Regional Economist for BP Plc in Hong Kong and London, and also worked at Lombard Street Research in London. She has been highly ranked in all her markets by Asiamoney and by Institutional Investors.

Sharmila holds a Masters degree in Economics from Jawaharlal Nehru University, India.

Nicole Idanna Alpert

Research Assistant
(852) 3950 0008

Nicole Alpert joined Aletheia Capital (Hong Kong) Ltd in March 2011.

Nicole previously worked at The Lion Rock Institute think tank heading its research and communications and was also editor of its economic policy journal. She received her Bachelor’s degree in Economics and International Relations from Washington College, Maryland, USA. Nicole has a Master of Economics degree from the University of Hong Kong (HKU).

Wayne Choi

Senior Research Analyst
(852) 3950 0028

Wayne Choi is a Senior Research Analyst for Aletheia Capital (Hong Kong) Ltd.

Wayne joined the research team at Aletheia Capital (Hong Kong) Ltd in April 2008 after graduating with a Bachelor of Science degree in Finance from California State Polytechnic University, Pomona. Wayne finished a MBA program from the Chinese University of Hong Kong in 2016.


Andrew Cullen

Sales Director, US

Andrew Cullen is a Sales Director based in New York with over 20 years of experience in the securities industry.

Prior to joining Aletheia Capital (Hong Kong) Ltd, Andrew spent the past 14 years with Keefe, Bruyette and Woods, a full-service boutique investment bank and broker-dealer that specialized in financial services companies. He spent his last 2 years at KBW as a desk analyst focused on global macro research. Andrew began his career in the industry working in fixed income with a focus on asset liability management and interest rate risk management.

Sam Ramsey

Sales Director, US

Sam Ramsey is a Sales Director covering our US client base with 28 years of experience in Asian Equities.

He began his professional career in 1986 as a Japanese equities analyst in Tokyo with Indosuez Asset Management. Since then, Sam has covered all the Asian stock markets and has worked for both the buy side and sell side in Tokyo, Hong Kong and New York. Over the past 28 years, Sam has worn various hats and worked for a number of companies including the following: Senior Japanese equities analyst with WI Carr; VP of Japanese equities sales for both WI Carr and Flemings; Sales Director for Korea, Taiwan and Sub-Continent equities with WI Carr; Head of Korean equities Sales and Trading with Ssangyong Securities; Head of Asian equities Sales with Nomura; Analyst with Tiedemann-Ayer; Trader/Partner with Geomatrix; and Head of Japanese Equities Sales with CLSA.

Sam’s international upbringing brought him from all corners of Asia including Hong Kong, Australia, Philippines, Japan to the US, where he graduated from the University of Arizona with a B.S. in Finance & Economics. He is currently based in New York City.