Baring Asset Management , which is part of MassMutual Financial Group, has named Thomas Kwan as head of Asian debt – an area where it sees a significant investment opportunity due to the growth of Asian economies.

Kwan joins from ICBC Credit Suisse in Beijing, where he was responsible for global macro research and asset allocation strategy, developing and managing absolute return global fixed income, currencies and asset allocation products.

Kwan previously worked for Credit Suisse in Singapore and Prudential Asset Management, along with First State in Hong Kong. His appointment points towards the bank's growing consolidation in the region, with its belief that the Asian bond market offers attractive risk-adjusted returns for investors.

Barings is expecting heightened appetitite for investment in Asian local currency debt due to the diversification benefits associated with the sector’s relatively modest correlations with more developed fixed income and equity markets.