The Canadian pension fund plans to increase its allocation to the region from 10% to 15% over the coming four years, even as its total assets under management rise.
In his newly created role, Chen will assume responsibility for all aspects of day-to-day fund operations, information technology and office administration. He also becomes a member of the senior management of RBC Dexia's Hong Kong entities including its investor services business, trust business and corporate services.
Prior to this move, Chen worked for State Street for 15 years holding a number of different positions. Most recently he was State Street's head of fund services responsible for the centralised support and service functions within fund administration.
They have teamed up with each other and with overseas investors to boost investment capacity in real estate and infrastructure investments in Europe and North America.
Asset owners across Asia Pacific weathered some difficult market conditions in 2020. While most emerged from the year successfully, some notable exceptions suffered asset drops.
Thanks to the current rise in yields, the key return driver of the bond market is set to change but its bull run will very likely continue.
Asian institutional investors were generally more optimistic about post-pandemic economic recovery but only 33% were confident about achieving their short-term objectives.