SGAM fills Singapore CEO role

But it has yet to determine who will run North Asia and Australia.

SG Asset Management has appointed Frederic Barroyer as CEO of SGAM Singapore effective today, September 1. Barroyer, who transfers from Tokyo, is a partial replacement for Mahendran Nathan, who has served as CEO for Asia ex-Japan and Australia, but is leaving to start a company called Wealth Management Asia, a consultancy to help regional banks develop their wealth management capabilities.

SGAM is reportedly going to break up Nathan's role along sub-regional lines, and continues to look to fill senior roles to cover North Asia ex-Japan and Austrasia. Borroyer will look after Southeast Asia and India.

Borryoer reports to Asia-Pacific head Laurent Bertiau. He joined the firm in 1998 as head of financial operations, and since 2001 has served as COO in Japan.

His appointment comes at a time when the firm must digest major initiatives including the acquisition of Resona Asset Management in Japan, the signing of joint ventures with Industrial Bank of Korea and State Bank of India, and the development of its joint venture in China, Fortune SGAM.

The firm says it will increase dedicated resources to win market share in Hong Kong, Singapore, Taiwan and Australia. SGAM now manages E17 billion in the region.