US fund house Invesco has hired Lindsay Wright from Harvest Fund Management in a newly-created leadership role for Asia Pacific.
Wright, who has spent 28 years in financial services, started late last month as regional head of institutional, alternatives and investment solutions at Invesco based in Hong Kong. She will report to regional head Andrew Lo.
It comes shortly after Invesco hired industry veteran Terry Pan from JP Morgan Asset Management as its CEO for Greater China, Singapore and Korea, as reported.
Pan came in to replace Desmond Ng, who quit Invesco last September to join Allianz Global Investors as CEO for Greater China and Southeast Asia and head of institutional business for Asia Pacific.
On the institutional front at Invesco Wright has taken over from Alex Prout, who was previously Invesco’s head of institutional sales and service for the region.
It is understood Prout left some time ago, although a spokesperson for Invesco declined to confirm when that was. Invesco has had no-one to head either alternative or investment solutions previously, the spokesperson did confirm.
It means Wright has a broad remit to develop Invesco’s regional institutional business, while seeking to enhance the firm’s competitive position in alternative and investment solutions.
Wright described herself as very excited to be taking on the role. She is expected to work closely with the firm’s China joint venture Invesco Great Wall, given her previous experience with the Harvest Group.
Previously Wright served as co-CEO of Harvest Capital, a subsidiary of Harvest Fund Management, alongside Li Qiang, as well as CEO of Harvest Alternative Investments.
Li will take over as sole CEO at Harvest Capital, while Andrew Tan, CIO of Harvest Global Investments, will take over Wright’s alternatives role, a Harvest spokesperson confirmed.
Reflecting on her time at Harvest, Wright told AsianInvestor: “What is interesting is the absolute rate of change in China and the need for the business to continue to innovate and grow. It is perpetual.
“People say China is not well regulated, but the rate of change is dramatic. It is a very dynamic environment to work in. From that point of view I learned a tremendous amount, dealing with rules and regulations.
“I don’t think you can really appreciate it unless you are sitting in a Chinese firm. As a foreigner it was an invaluable experience. Now I will be working with Invesco Great Wall to build out its business.”
Overall Wright spent four-and-a-half years with the Harvest Group. Before that she had worked for Deutsche Bank since May 2001, including as Asia-Pacific COO and head of business development and strategy for Asia and latterly globally.
She also worked at Bankers Trust in New Zealand for 12 years, starting in 1987. She currently holds two board positions, with the New Zealand Superannuation Fund and Kiwibank.