US-based Neuberger Berman has poached from BlackRock to fill the post, which was vacated in July, and has applied for a licence to manufacture products locally.
The asset manager has made senior distribution hires, having registered offshore funds for sale to retail investors for the first time in Hong Kong and Singapore.
US asset manager Neuberger Berman plans to launch a range of global emerging market and Asian bond strategies after hiring a new team from ING Investment Management.
The US firm is intent on expanding its investment capabilities globally and sees Asian fixed income as a key plank in that strategy.
Even traditionally conservative Asian institutions are being drawn to non-investment grade US debt vehicles, notably high-yield bonds and CLOs, says Asia-Pacific head Nick Hoar.
The employee-controlled firm will relocate Nick Hoar from London to Hong Kong this summer after the exit of Tony Edwards. Hoar plans to bulk up the regional distribution team.