BlackRock has relocated its head of retail business for Asia ex-Japan to Hong Kong, and has promoted a head of retail sales, to form a new team to tap private banking clients.

Lin-Yun Chang, head of BlackRock's retail business for Asia ex-Japan, will relocate to the US investment manager's regional head office in Hong Kong, from Taipei, underlining the increasing importance of the retail segment to the firm. 

Meanwhile, Heather Pelant relocates from the US to start a different role as head of retail sales for Hong Kong, Singapore and South East Asia. In this newly-created role, Pelant will also create and oversee a team focused on the private bank client segment.
 
Pelant has worked at BlackRock for nine years from 2003, during which time she held a number of senior roles including head of iShares, Canada, and head of distribution strategy and execution for the iShares US private wealth team.

She will report to Chang.

Mark McCombe, BlackRock's chairman of Asia-Pacific, who started in the role last year, said: “Heather’s strong experience in both retail funds and iShares ETF distribution ideally position her in this new role. In addition, bringing Lin-Yun’s expertise to our regional head office will enhance our focus in these key retail markets.”

The news comes on the heels of recent appointments this year, including Joseph Pacini who was appointed to head the firm’s alternative investments strategy group for Asia in March. In June Andrew Landman was appointed to head alternatives in Australia, while in May, Jane Leung was promoted to run iShares in Asia-Pacific.