US fund house BlackRock has appointed Edward Bang from UBS Global Asset Management to the newly created role of head of multi-asset strategies for Asia as part of a drive to expand its diversified solutions business globally.

His role became effective yesterday based in Hong Kong. He will be tasked with building the firm's multi-asset strategies business and capabilities, including investments, products, services and tools.

Bang now reports to BlackRock's Asia-Pacific head Ryan Stork in Hong Kong and to Ken Kroner, global head of multi-asset strategies, based in San Francisco.

Stork pointed to the increasing importance that multi-asset solutions are playing in Asia Pacific. "[Bang's] appointment underscores our commitment to boosting local manufacturing capabilities and bringing global expertise to Asia," he said in a statement.

Kroner stressed that BlackRock was seeking to accelerate the build-out of our multi-asset platform across the globe. "He [Bang] will assess the broader marketplace in Asia Pacific and deliver the breadth of our global offering, while building our multi-asset platform so we can serve clients with the solutions and value they seek.”

BlackRock said its multi-asset segment, which has $200 billion of funds under management, is a global driver of its business. It intends to buildout the segment in Asia through 2015.

The firm’s multi-asset team in Asia comprises 13, spread across Australia, Hong Kong, Japan and Taiwan.

Previously Bang worked as Asia head strategist of global investment solutions (GIS) at UBS Global Asset Management, the firm’s multi-asset operation, since he started there in January 2010.

Before that, he was CEO and Asia head at Olivant for two years, and has also worked at York Capital Management, where he set up its Singapore office.

AsianInvestor has learned that UBS GAM is set to announce the appointment of Tom Rivers as head of investment strategy for Asia ex-Japan at GIS, effective from January 1 next year. He will relocate to Hong Kong where he will report to Stefan Lecher, global head strategist at UBS GAM. However, a spokesperson for UBS GAM declined to comment for this article.

Rivers has been a portfolio manager with GIS since 2007, working in both the firm’s Sydney and London offices. He joined UBS GAM in 2001.

In his new role, Rivers will be tasked with building out the broader GIS investment hub in Hong Kong, working alongside multi-asset portfolio manager Keiko Kondo.

As part of the build-out at UBS GAM, portfolio co-ordination analyst Simon McConnell relocated to Hong Kong last month on secondment, from London. McConnell has been with UBS GAM since June 2011, based in London.

Carolyn Chen also joined the firm in September as an associate portfolio manager in Hong Kong, reporting to Keiko Kondo. She had previously worked at UBS investment bank from June to August 2013 as an associate, according to her LinkedIn profile. She has also worked at Standard Chartered Bank.

Markus Purtschert, senior portfolio manager for structured solutions, relocated to Hong Kong from Zurich in June to expand the firm’s structured solutions business in Asia. He joined UBS in June 2000.