Edith Ngan, Hong Kong CEO at Invesco, has resigned to spend more time with her family. She won the CEO role for helping establish the fund management firm as a Mandatory Provident Fund provider and a retail name in Hong Kong.
She was named CEO in 2002 after acting as deputy CEO, with responsibility for institutional, retail and MPF marketing. The promotion added investments and operations to her job.
Invesco is not going to hire anyone to replace her. Instead, Andrew Lo, CEO for the Asia Pacific region, will absorb her job.
"We run our Greater China businesses closely together, and I'm already here in Hong Kong," he says.
Part of Ngan's promotion had been meant to free Lo to pursue strategy. Since then the firm has sealed a JV deal in China and has businesses in the markets where it wants to be. Taiwan is now run by Bruno Lee while Liang Hwa-dong manages the firm's Shenzhen-based joint venture, Invesco Great Wall.
Ngan has had a prominent role in the funds industry. Last year she took over the chairmanship of the pensions committee at the Hong Kong Investment Funds Association.