Macquarie Investment Management, a subsidiary of Macquarie Bank, has hired a new head of Asian distribution.

Axel Maier moves from Wellington Management, replacing Damon Hambly who resigned in January this year and then joined Natixis Global Asset Management as head of strategy and business planning for Asia the month after. Maier used to lead the equity, fixed income and multi-strategy distribution team at Wellington and is now leading a seven-person team in Hong Kong at MIM.

Macquarie Investment Management records A$220 billion in assets under management and specialises in listed global infrastructure, global emerging market equity, global equity, global and US credit and global bonds. Around 50 per cent of MIM's assets are held by institutional investors worldwide, while the remaining share is attributed to retail clients.