People Moves
Baring Asset Management Announces New Head Of Asian Institutional Unit
Baring Asset Management has named the successor
to Elvin
Yu as Asia head of institutional business.
The appointment of
Wayne Shum follows Yu's announcement late last year
that he would be leaving to join RCM. Shum steps in from
HSBC Global Asset Management, where he held a similar
role. He now reports to
Gerry Ng, the head of sales, client service and business
development for Asia ex-Japan. Ng had been
fulfilling Yu's duties on an interim basis prior
to Shum's appointment.
In his new role Shum is responsible for sales and
business development activities across the firm's institutional
client base, covering sovereign wealth funds, private and
government units, and pension-related opportunities, particularly
in Hong Kong, Korea, and Taiwan.
"As the markets continue to grow and there's a bit of a recovery,
although it's a bit stop-start at the moment, we continue to
believe that the institutional business will be an important part
of our focus in the coming years," said Ng.
"Institutions will be looking to get higher returns than the
meagre returns of recent years. They will move further up the
risk curve and look at areas such as emerging markets."
Barings manages $8.9 billion in Asia-based client assets, as of
30 June 2010.
