Mahendran Nathan has been promoted to regional CEO at SG Asset Management in Singapore while Albert Reculeau, the previous CEO, is heading to Seoul to manage the firm's new joint venture with Industrial Bank of Korea (IBK).

Reculeau has no formal title or position at the JV, as the two partners are still hammering out the operational details. But he will run Korea separately from the rest of the region and report directly to Paris.

Nathan has been regional head of business at SGAM since 1998, managing institutional and fund distribution activities. He is based in Singapore, but in 2001 was seconded to also spearhead the Hong Kong office and North Asian efforts. He will continue his business development duties as well as take over the rest of the business, including responsibility for fund management, compliance, risk management and operations.

He now reports to SGAM CEO Alain Clot, as well as to Gerome De Dax, head of global marketing and business development, and to Christian Dallert, head of foreign subsidiaries, all based in Paris.

Nathan's remit covers Singapore, Hong Kong, Taiwan, Australia and Southeast Asia. SGAM is also now negotiating a JV in India, and he'll be responsible for business development there. SGAM also has a JV in China with Fortune Trust that reports to Paris, managed by Denis Lefranc, as well as its SG Yamaichi Asset Management presence in Japan, co-led by Ukon Tokuo and Laurent Bertiau, who also report directly to Paris.

Prior to joining SGAM, Nathan worked for Development Bank of Singapore and Morgan Grenfell.