US fund manager Vanguard has hired a new institutional sales head at it continues to expand its Singapore operations.

Vanguard has recruited Heston Goh for the newly-created position from Nomura Asset Management, where he was head of sales focused on Southeast Asian institutional business. It is understood that Nomura has yet to find a replacement for Goh.

Goh started at Vanguard on August 17 and reports to Shelley Painter, managing director for Asia. Goh spent three years with Nomura before moving to Vanguard. Prior to that, he worked at Lion Global Investors for six years as a senior institutional sales manager. 

Painter said Goh’s appointment was intended to strengthen the firm’s institutional business as well as show its commitment to the Southeast Asian market.

Vanguard has a small sales team for institutional and intermediary business in Singapore.  Apart from her regional managing director role, Hong Kong-based Painter is also the country head for Singapore. Charles Lin is the head  of Greater China, overseeing Vanguard's institutional and intermediary businesses across the Greater China region, including Hong Kong.

But Vanguard has started beefing up its team in Singapore. In June, it relocated Hong Kong-based director for intermediary business Eddy Lam to Singapore.

Lam is to stay in the city-state for some months to deepen relationships with private banks as Vanguard has a range of unauthorised funds which could be distributed to high-net-worth investors. The firm’s authorised funds for retail investors are more limited in number compared to funds that can be distributed to professional or high-net-worth investors.

Globally, Vanguard manages more than $3 trillion in mutual funds, separately managed account and exchange-traded fund assets. It claims to be the world's largest mutual fund company, based on Morningstar's ranking of mutual funds’ global net assets (including long-term and money-market funds) as of the end of June 2015.

In Asia Pacific, Vanguard had $118 billion in AUM at the end of last year and was ranked 18th in AsianInvestor’s top 100 regional asset managers for 2014.