People Moves

Baring Asset Management Announces New Head Of Asian Institutional Unit

Vanessa Doctor Asia Editor 5 August 2010

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.

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