AMP Capital has rejigged its Asian equities team by cutting four staff, hiring three former BNP Paribas bankers in Hong Kong and relocating two existing team members to the region.

The revamp follows a review of the Australian investment manager’s Asian equities capability that focused on the investment process, the structure of the team, coverage of sectors and product offerings.

As a result of the review, Patrick Ho will join AMP Capital as head of Greater China equities based in Hong Kong and will assume portfolio management responsibility for the AMP Capital China Growth Fund.

He joins AMP Capital from BNP Paribas Investment Partners where he has been head of Greater China equities since 2005, managing approximately $4 billion of funds under management. Ho has more than 16 years’ investment experience.

He will be assisted in Hong Kong by new portfolio managers/analysts Eugene So and Sam Ho, who both have over 10 years of investment experience. They join AMP Capital from BNP Paribas Investment Partners where they have worked with Patrick Ho for several years.

The three will join AMP Capital in September 2012.

Meanwhile senior portfolio manager Jonathan Reoch will relocate from Sydney to Hong Kong in September, as head of Asia ex-Greater China. He will retain responsibility for the pan-Asian equities fund, the AMP Capital Asian equity growth fund. Ho and Reoch will report to AMP Capital's head of fundamental equities Ella Brown.

Senior investment analyst Casey Mclean will also relocate to Hong Kong from Sydney in September as portfolio manager/analyst, and will continue to support the team.

As a result of the changes and the move to Hong Kong, Ragu Sivanesarajah, James Gruber, and Ying Luo who were all Sydney-based, and Kevin Yeoh, who was Beijing-based, will leave the Asian equities team this week.

In addition, AMP Capital will conduct a recruitment search to hire a new analyst, who will be based in Hong Kong, bringing the team to six.

“The new Hong Kong based team will be well placed to manage both the Pan Asia and China A share portfolios. The experienced investment talent we have attracted will also provide AMP Capital with the exciting opportunity to add to our product offering with a Greater China equities capability,” chief investment officer David Kiddie said.

AMP Capital has around A$125 billion ($125 billion) in managed funds. AMP Capital manages A$8.5 billion in AUM (FY11) for clients from the Asian region.

In July 2006, AMP Capital was announced as the first Australian company to be granted a QFII licence by the China Securities Regulatory Commission.  It secured its first quota of US$200 million in 2006, followed by a second quota of an additional US$100 million in 2008.