Eastspring Investments has hired Chen Fan-Fai as chief investment officer and country head for Malaysia from local rival Kenanga Investors, where he was director of investments.

This is a newly created role. He joined yesterday to manage the two investment heads, Yvonne Tan, who looks after equities, and Ilene Chong, who covers fixed income. Chen reports to chief executive Lynn Cheah Lee Ling.

Chen has 23 years' experience in the investment industry, having begun his career as an analyst with UOB Asset Management. He then held several senior investment positions at local and regional asset managers before moving on to become CIO at Allianz Life Insurance Malaysia.

It is understood that Chen has been replaced at Kenanga, but AsianInvestor could not ascertain the successor’s identity by press time.

Eastspring Investments offers a range of unit trust funds and manages customised portfolio mandates for corporations and institutions, as well as government and pension funds, of RM21 billion ($6.8 billion) as at September 30.

The team of almost 100 employees is responsible for the management of 25 unit trust funds and four wholesale funds.

Apart from Malaysia, Eastspring operates in Singapore, Japan, South Korea, Taiwan, Hong Kong, the United Arab Emirates, Indonesia, Vietnam and the US. It also has joint ventures in India, China and Hong Kong.