US funds giant Capital Group saw its director of strategic solutions for Southeast Asia resign from the firm last month, AsianInvestor can reveal.
William Tan had headed intermediary and institutional sales for the region out of Singapore for the Los Angeles-based $1.5 trillion fund house. AsianInvestor could not ascertain what his next destination – if any – might be.
A spokeswoman for Capital Group said the firm would replace Tan, but declined to comment further.
His departure came soon after the June 1 arrival of Shen Tan from Income Partners as head of institutional business for Asia (excluding Australia and Japan).
Tan had taken up his last role at Capital Group in May 2015. He had joined in February 2014 from Franklin Templeton Investments, where he had been Singapore-based head of retail sales for Southeast Asia.
In the past few years Capital Group has been looking to expand its distribution via intermediaries in the region with a view to boosting the $13 billion it manages for Asian clients. This has been a rising trend among asset managers that had previously been focused on institutional investors.