Ninety One has appointed Evelyn Xia as managing director and head of Greater China institutional business, replacing Helen Leung who is stepping down from the role.

Evelyn Xia

Xia starts in the new position at the Anglo-South African asset manager on Tuesday (June 1) and is responsible for driving institutional business in the region, the company said in a statement. She will be based in Hong Kong and report to Eric Fu, managing director and country head of Greater China.

She joins from RBC Global Asset Management, where she was managing director and head of Asia sales for institutional client coverage. RBC GAM did not immediately respond to requests for comment but AsianInvestor understands that a search for a director for Greater China coverage is underway. 

A spokesperson at Ninety One, which was renamed in March 2020 after demerging from South Africa's Investec Group, confirmed that Leung has resigned from the firm and that a successor will be hired but declined to comment on when her last day is. Leung did not respond to requests for comment.

"We are grateful for her [Leung's] contribution to our Greater China business over the past decade and wish her every success in her future endeavours. We are hiring her successor and will share more details in due course," the spokesperson said. 

CHINA EXPANSION

Xia's appointment comes as Ninety One is looking to expand its Greater China coverage. Several international fund managers have been eyeing the market for expansion. BlackRock having recently teamed up with Singapore's Temasek and the China Construction Bank to launch a wealth management unit in China, while more family offices are expected to be set up in mainland China and Hong Kong to chase investment returns. 

"With Evelyn joining our team, we are confident that we can further capitalise on the tremendous opportunities in Greater China, which we see as a strategically important market for us in the years to come," Mark Samuelson, managing director for Asia Pacific and the Middle East said in the statement.

Ninety One manages £130.9 billion ($185.65 billion) in assets and invests across equities, fixed income, multi-asset and alternatives. 

Xia comes with more than 10 years of financial services experience. Before working at RBC Global Asset Management, she was employed by Banco Santander in various roles in Hong Kong, London and Madrid. Under her leadership, Ninety One's Greater China coverage is expected to focus on multi assets, emerging market debt and environmental, social and governance (ESG) strategies. 

This article has been edited to state the month Ninety One demerged from Investec Group.