Henry Lin will join Fubon Asset Management, currently the largest securities investment trust enterprise (Site) in Taiwan, as its new president as of October 2.

This follows 18 years at President Group, a domestic financial services company, including the past 10 at its fund affiliate, Uni-President Investment Trust, where he rose to become president.

He has also served for the past three years as chairman of the Securities Investment Trust & Consulting Association (Sitca), the funds industry association in Taiwan, although he has just resigned from this role. As Sitca chairman he helped push for liberalisation in the funds industry. The organisation is set to vote for a new chairman this month.

Lin succeeds Michael Ding, who had run FubonÆs Site at a time of marked expansion. Ding remains with Fubon Financial Holding, now as chairman and CEO of Fubon Investment Services, which among other things helps choose investment products for the bank and insurance affiliates to distribute.

Fubon became the biggest onshore player in terms of assets under management last year during a period of turmoil. Structured products embedded in bond funds suffered from rising interest rates, damaging most domestic houses with big bond-fund businesses, but Fubon took advantage of the chaos to buy the failed business of smaller rivals.

Its dominance is not set to last, as the recently announced acquisition of ABN AMRO Asset ManagementÆs onshore business by ING Investment Management will boost ING to the number-one slot next year. (For an in-depth look at M&A in TaiwanÆs funds industry and the impact on both onshore and offshore business, see the upcoming October edition of AsianInvestor magazine.)

Fubon remains one of the most dynamic domestic fund houses, and is putting together an investment platform in Hong Kong to offer China- and Asia-oriented funds from offshore in order to compete with global players.

Lin says his new job will be to grow Fubon Asset ManagementÆs business in this international segment, as well as in the emerging pensions space. He reports to Victor Kung, head of the investment management group, and to Tsai Ming-Hsien, chairman of Fubon Investment Trust.

LinÆs appointment is part of a broader reshuffle at Fubon Financial. Gang Shyy, advisor to Fubon Securities and convener of the Fubon Reit panel, has been named chairman of Fubon Futures. Meanwhile, Cheng Hui-min has resigned as Fubon FinancialÆs CFO to become CFO at HTC Computer, an electronics company.