Old Mutual Global Investors, the asset management division of Old Mutual Wealth, has announced that one of its key Asia executives is leaving the firm.

Jane Fung is stepping down from her role as head of distribution for Asia effective November 2013. Fung has been with Old Mutual for the past 12 years and is leaving to "pursue other opportunities." Her position will be filled by Warren Tonkinson, head of global distribution, in the interim until the company is ready to announce the new head who is arriving in November.

The company has been operating in Asia for over a decade and manages some $500 million of assets on behalf of its Asian clients as at 31 August 2013. It has a significant presence in the region, with almost a one per cent share of the Taiwanese market working through Capital Gateway.

Old Mutual Global Investors was created in August 2012 through the merger between Old Mutual Asset Management and Skandia Investment Group. It has over £14.8 billon ($23.6 billion) in assets under management worldwide.