The Hong Kong arm of joint venture CIFM Asset Management has appointed Anthony Ho as its new chief executive officer as it seeks to expand its business.

The overseas subsidiary of China International Fund Management, a JV between JP Morgan Asset Management and Shanghai International Trust and Investment, said it is seeking to diversify its product suite and client base overseas.

It revealed the appointment of Ho yesterday, although he came on board last month. He takes over from Hank Chen, who has taken up a newly created role as chief operations officer and reports to Ho.

In an interview about his new role, Ho told AsianInvestor of the firm’s goal to attract overseas clients and expand its distribution platform. “We have seen the market [outside Hong Kong] diversify with the internationalisation of renminbi business and products, and countries in Asia and Europe being granted RQFII licence and quotas,” he said. “So now our firm is entering its second phase, to develop business outside Hong Kong.”

As part of its international expansion CIFM AM (Hong Kong) is preparing for the launch of mutual fund recognition between mainland China and Hong Kong, a programme expected to be introduced soon. “It is part of the expansion strategy for our overseas distribution platform,” Ho said.

CIFM AM (HK) was set up in Hong Kong in 2011. It launched its first authorised RQFII mutual fund in Hong Kong in November last year, with 80% invested in fixed income and 20% in equities.

Ho noted that the firm was planning to launch new products, but declined to disclose more details at this stage.

He previously served as managing director in JP Morgan Asset Management’s global multi-asset group. There he had been responsible for building its Asia multi-asset business and leading regional expansion.

Before taking up that role in March last year he had served as deputy chief executive officer for China AMC (Hong Kong) since 2009. There he headed the research team both in Hong Kong and Beijing, and was tasked with raising the firm’s overseas investment and research capabilities to global standards.

Before joining China AMC (Hong Kong), Ho worked at Fidelity for 15 years as head of Asian institutional investment and head of Asian research in Hong Kong and London.

AsianInvestor has previously reported CIFM (HK) is seeking to build up its active equity management capabilities, as well develop more funds and start a segregated accounts business.