Mr Frank is the first head of one of Thomson Reuters’ market divisions to relocate to the Asia Pacific region, and his move supports the firm’s ambitions to “seize the immense growth opportunities" there, Devin Wenig, chief executive of Thomson Reuters Markets, said in a statement.

A number of firms are relocating senior executives to the Asia Pacific region at the moment in a bid to fully capitalise on its growth prospects and burgeoning wealth management market. Michael Geoghegan, the chief executive of HSBC, has recently moved to Hong Kong, for example.

Thomson Reuters said that its goal for its Investment & Advisory business is to localise its global platform for countries in the Asia Pacific region through the development of local-language products and content. Mr Frank will lead the firm’s efforts in this regard, the firm said.

Mr Frank was appointed to his current position in July 2008, prior to which he was global managing director of the investment management segment of the Thomson Financial Corporate group.

"As M&A and investment banking activity, a rapidly emerging buy side, wealth creation, and corporate growth are increasingly being driven out of Asia Pacific, it was a logical time for me to move to the region and oversee the global business from Asia Pacific first hand," said Mr Frank.

Mr Frank’s move to Asia follows hot on the heels of a number of recent hires made by the firm in the Asia Pacific region: Henry Li, has been appointed as head of China; Kotaro Okamura, as head of Japan; Tarun Anand, as head of South Asia, based in Mumbai; Samir Shah as head of business operations, Asia, based in Singapore; and Daphne Huang as head of Taiwan.