Aviva Investors is poised to expand its Asia-Pacific team through a series of hires over the next months, Reuters reports.

Speaking to reporters in Singapore, Craig Bingham, the chief executive officer for Asia Pacific, reportedly said that Aviva intends to establish a regional asset management business in the city-state and staff it with 25 to 30 employees providing equities and fixed income investment services.
 
Bingham is said to be screening candidates for the CEO post for Singapore, who would then be responsible for recruiting the remainder of the team.

Aviva, which has about $420 billion in assets under management, is looking to widen its footprint in the Asia-Pacific region and take advantage of its rapid growth. Only about $20 billion of its managed assets are attributed to Asia, of which nearly 50 per cent is managed from Australia and the rest from the UK.

The company is forecasting that its Singapore business, which will oversee the Asian operations beyond Australia, will manage close to $3 billion in the next three years. It will also not be including China under its wing, as Aviva already has an established partnership with broker Central China Securities to build another asset management firm, subject to regulatory approval, the news service said.

Bingham, who is Melbourne-based, was quoted as having said that the new Singapore branch will help double its staff in the city-state to 45-50 before the end of 2011.

The firm also is planning to set up new offices in Japan and Saudi Arabia.