The Hong Kong-based fund house has promoted internally to fill the role, amid an ongoing management reshuffle.
The five largest Korean securities companies have indicated that they will apply to their regulator for approval to participate in the creation of onshore prime broking.
Having the right fee model is key, among other things, says Philippe Legrand, CEO of London & Capital Asia.
Mainland insurance firms expect to be able to make overseas investments again as early as September and are particularly keen on private equity funds, says a consultant.
Such products are not transparent and saddle the buyer with most of the risk, says Philip York of trading firm Alt224, who argues for a ban.
The funds will target distressed assets in India and other Asian special situations and credit assets, says a source, amid rising demand for private debt.