Legal & General Investment Management is transferring management of its assets in Hong Kong to head office in London and waving goodbye to three senior Asia-based executives.
The UK insurer's asset management arm is planning expansion in China, Taiwan and Southeast Asia and has its sights set on onshore alliances.
The UK asset manager plans to add 10 staff to its new Hong Kong office in the next year, nearly doubling the current headcount, as it continues to commit resources to the region.
The UK fund house has appointed Virginia Devereux Wong as head of its Asia wholesale business in a newly created role. Extending its multi-asset capabilities is on the agenda.
The wholly owned investment manager Standard Life Investments has hired Allen Wang from BlackRock to run institutional sales in Asia and is seeking a head of wholesale business.