GSam gives Duhamel global central banks role

Goldman transfers Oliver Bolitho to Hong Kong as head of asset management Asia ex-Japan and transfers Wang Hsueh-Ming from the investment bank to run China.
Goldman Sachs Asset Management (GSam) has announced a series executives changes in Asia.

Effective March, GSam will transfer Oliver Bolitho to Hong Kong to assume the position of head of Asia ex-Japan. Reporting to Stephen Fitzgerald, the London-based head of GSam International, who oversees the Asia and Europe business, Bolitho will leave his current post of head of the UK institutional business in Europe.

According to Fitzgerald, BolithoÆs appointment to the Hong Kong-based role is a direct result of growth GSam has experienced in this region.

ôAsia is the biggest growth market for GSam globally and his appointment is a reflection of this business momentum,ö says Fitzgerald. ôWeÆve been adding resources in Asia, primarily in our equity-investment team and in building equity-research teams in markets like Singapore, Korea, India and China. In addition, we will continue to build out investment platforms in Asia.ö

Bolitho had led the UK institutional business for GSam since 2001 and joined Goldman Sachs in 1998 in London. In 2003 was appointed a managing director.

In new his role, Bolitho will work closely with Vincent Duhamel, who has been in the Asia ex-Japan MD role in Hong Kong. Duhamel will assume responsibility for the global central-banks business and will continue to drive the ongoing expansion of GSamÆs client relationships in Asia. The firm decided to dedicate Duhamel to helping central banks given the exponential growth in their foreign reserves, particularly notable in Asia.

ôOn a global level we will expand our central bank and government investment organisation coverage, and having Vincent to lead this will be important,ö says Fitzgerald.

Duhamel joined Goldman Sachs in 2005 as a managing director from State Street. In addition to his responsibilities at GSam, Duhamel also serves as chairman of the Chartered Financial Analyst Institute.

Also in Hong Kong, GSam has appointed Wang Hsueh-Ming to drive the business in China as chairman of the investment management division in China.

Wang joined Goldman Sachs in 1994, becoming a managing director in 1998 and a partner in 2000, before retiring and rejoining the firm in 2005. She is also a founding member of its investment banking franchise in China.

In their new and expanded roles, Bolitho, Duhamel and Wang bring the number of managing directors at GSam in Asia to six. Last month, Justin Pascoe, State StreetÆs chief investment officer for Asia, joined the firm in Hong Kong as managing director of quantitative strategy. They also join managing director of private equity Tuan Lam in Hong Kong and Siew-Hua Thio, managing director and chief investment officer of GSam Asia, in Singapore.
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