Kyobo Axa Investment Managers last month hired Dong Keun Lee in Seoul as deputy chief marketing officer and head of marketing to run fund distribution in South Korea.

In this newly created post, Lee is responsible for strengthening sales and marketing for the joint venture between insurer Kyobo Life and Axa IM, part of French insurance group Axa.

Reporting to chief marketing officer Stanislas Perrin, Lee will increase sales activities for local equity and bond products and reengineer marketing strategies to introduce multi-expert products from Axa IM to the South Korean market. He will also work closely with Axa IM in Paris on product development.

Lee says he plans to penetrate new third-party distributors and institutional clients with Kyobo Axa IM's investment capabilities and increase AUM from third parties as well as Kyobo Life's affiliates.

With 18 years' experience in asset management, Lee was previously marketing officer for Prudential Asset Management until May, responsible for institutional sales and product development. Before that, he worked at Schroder Investment Management as head of institutional sales, as well as Deutsche Bank, Macquarie-IMM Investment Management and Hyundai Investment Trust Management.

Kyobo Axa IM was launched in September 2008 and as of August 31 had $14.1 billion in assets under management, employed 66 people and was ranked the seventh biggest asset manager in South Korea.