Standard Life Investments has announced a big push for Asian business with a raft of appointments.

Standard Life Investments, the global fund management firm headquartered in the UK, has announced a raft of senior hires and transfers to its Asia team as part of ongoing efforts to grow in the region.

Allen Wang is now investment director and head of the Asia institutional business. Wang was previously the managing director and head of the China/Taiwan institutional business at BlackRock. At SLI, he will oversee and drive the company's institutional business and consultant relationships.

The announcement is an example of Western-based investment and wealth management firms looking to tap into the fast-growing economies of the Asian-Pacific region, particularly at a time when markets in Europe and elsewhere have been more sluggish. SLI held over $264 billion of client assets as at the end of September last year. 

The firm is also in the process of relocating Malcolm Jones, investment director, Asia-Pacific for absolute returns and fixed income from the Edinburgh office to Asia. Jones has 20 years' experience as a qualified actuary and has worked for 15 years as a fund manager. In his new Asia-based role, he continues to work closely with the fund management, product development and business divisions.

Also to be transferred is Jason Lam from the head office to Asia as the region's business development manager.

"We are committed to growth in Asia and constantly strive to provide clients with the best possible investment solutions," saidColin Clark, director, global client group for Standard Life Investments.

"[The three gentlemen] will help drive our five key products -- absolute return strategies; private equity; real estate; fixed income; and equities," he added. The announcement was made at a briefing in Hong Kong on the company's "Focus on Change" business thrust, which focuses on the "factors that drive the market price of investments and the dynamics behind these drivers."

Growth in Asia

In addition to the appointments, Standard Life is also looking to grow its wholesale team, based out of Hong Kong. Among the initiatives for the year are looking into Taiwan as a strong potential market and expanding the firm's presence in China. Sub-advisory opportunities throughout the Asian region are also being considered.

The announcement on the firm's Asia plans comes shortly after the launch of a new range of retail savings and investment products for high net worth individuals and expatriates in Singapore.