The new hire was previously chairman of the advisory board at Carret Private Investments.

UK-based Aberdeen Standard Investments has appointed David Lam as head of its Hong Kong operation. Lam will report to Ian Macdonald, deputy head of Asia-Pacific for ASI.

Lam will be responsible for managing the Hong Kong team and driving a long-term growth strategy for the business. He will also support relationships with key investors and distributors, it said in a statement.

Prior to ASI, Lam was chairman of the advisory board at Carret Private Investments. His previous roles include managing director and head of North Asia for Coutts, managing director of APAC for GAM, and director of private wealth services – APAC at Merrill Lynch.

“David’s track record in the financial services industry is impressive and his appointment signifies the commitment we have to our clients in Hong Kong,” said Macdonald. “We are seeing good momentum in the local business right now. In addition, Hong Kong also provides a gateway for assets flowing in and out of the mainland China. I am confident that under David’s leadership, we have the right team and capability in place to accelerate our growth in this important market.”

ASI’s Hong Kong team is 60-strong, with on-the-ground investment teams managing regional portfolios across different asset classes, including China equities, multi-asset, private equity, and emerging market debt. 

The firm, which has over 1,000 investment professionals, manages £557.1 billion ($718 billion) of assets worldwide and has clients in 80 countries supported by 50 relationship offices.

In December, this publication reported that Aberdeen Asset Management (Shanghai), the wholly foreign-owned enterprise of Aberdeen Standard Investments, had secured registration as a private securities investment fund manager with the Asset Management Association of China (AMAC).