Franki Chung has assumed the role of Hong Kong-based chief investment officer at MEAG, which manages the assets of German reinsurer Munich Re. He joined on January 25 to replace John Koh, who has left the firm.

Chung was previously deputy head of Asian equities at Baring Asset Management in Hong Kong, where he managed the Asian investment team and equity products, including unit trusts, closed-end funds and segregated funds. He left the UK manager in December.

Colin Ng recently joined Barings as head of Asian equities in Hong Kong from MFC Global Investment Management, a subsidiary of Canadian insurer Manulife, where he held the same post. Ng takes over from Henry Chan, who now heads the Asia-Pacific investment team, effectively as CIO.

MEAG's investment process is largely based on a bottom-up, company-specific analysis combined with a top-down view on country and sector allocation, says Chung. The firm focuses on both fixed income and equities in the Far East ex-Japan region.

MEAG manages Munich Re's €175 billion global portfolio, around €1 billion of which is invested in Asia, and generally the approach is very conservative.

Chung says MEAG has no plans for further investment-related hiring at the moment.

He joined Barings in 1994 as an analyst and then served as an investment manager in 1997, covering various Asian markets. In 1999, Chung joined Canadian Imperial Bank of Commerce to manage its retail and institutional funds. Before rejoining Barings in 2007, he held the role of head of Asian equities at CIBC Asset Management.