Putnam Investments, the US-based financial advisory firm, has bolstered its Asian presence with a new Beijing office.

The new branch is its first in China, but it already maintains an investment office in Singapore, a client service office in Tokyo and a sales office in Sydney. Its other branches are in London, Frankfurt and Amsterdam. In a statement, the company said it is "looking to its Beijing office to assess intermediate and long-term business opportunities and to evaluate future staffing needs in China."

The Beijing branch will be led by Michael Luo, chief representative of Putnam Investments Beijing. Luo joined the company from Invesco Great Wall in Shenzhen. Prior to that, he was an advisor at China Investment Corporation in Beijing.

The firm says plans are also underway for the expansion of its business in Japan and research capabilities in Singapore.

Putnam Investments records $124 billion in assets under management as of April 2012.