EFG Asset Management, the $7 billion affiliate of Zurich-based private bank EFG, has hired Mansfield Mok to establish a nascent investment capability in Asian equities.

Mok joins from GAM, where he had been a senior fund manager with co-responsibility for the GAM Star China Equity Fund. He worked there for five years after stints at Munich Re Asia Capital Management, ING Barings Securities and Hoare Govett.

GAM says Mok leaves at the end of this month. Although there are no plans to replace him, GAM says Michael Lai, head of GAM’s Asia investment team, last month hired Kevin Chan to strengthen the team.

Chan joins GAM from his own business, Hong Kong boutique Chater Capital Advisors. Chan had previously founded Scoggin Capital Management as well, and has served at Credit Suisse and Citigroup.

Mok will report to Moz Afzal, EFG AM’s CIO in London. EFG AM’s investment teams have traditionally been situated there and in Geneva. But over the past year or so the firm has been building an Asia team.

Bradley Okita, CEO for Asia-Pacific at EFG AM (and formerly of Lehman Brothers Asset Management/Neuberger Berman), says the firm now has 12 people based in Hong Kong and Singapore, of which six are investment professionals, including Mok.

Last year EFG AM launched an Asia ex-Japan dividend equities fund, and this year may add an Asia credit product. The team has also begun to manage Ucits products from Asia, as well as multi-asset products, providing Asian tilts to global balanced exposures.

Okita says the firm’s area of specialisation is multi-asset, which it has pursued since the asset manager was set up 17 years ago. The firm works with sub-advisors as well as with internal asset-class teams. Today around $1 billion of its AUM is third-party, with the bulk managing EFG Private Bank client money.