Mirae Asset Global Investments, the South Korea-headquartered investment management firm, has appointed a chief executive for Hong Kong.

Jung Ho Rhee takes up the chief executive role for the Hong Kong office from 2 May, replacing Woong Park who has resigned for personal reasons. Rhee is currently a senior executive director at Mirae Asset and heads the global asset allocation division for the entire Mirae Asset Group.

Prior to Mirae, he was managing director of global research and chief financial officer at Mirae Asset Securities Hong Kong, where he led the proprietary investment team in managing over $300 million globally. He also worked at the Seoul business as an investment strategist and, later, as head of Asia-Pacific research.

Mirae Asset Financial Group specialises in asset management, but also provides wealth management and life insurance services. As of 29 February 2012, the company records around $54.7 billion in total assets under management. Aside from South Korea and Hong Kong, its Asian offices are in India and Taiwan. It also has a considerable presence in the US, Brazil and Canada.