Macquarie Asset Management has announced the appointment of David Chang as head of wealth distribution, Asia. The newly created role reflects the growing interest of Asian wealth management clients in Macquarie Asset Management’s infrastructure and energy transition strategies, according to a statement by the Australia-based fund manager.
Based in Singapore, Chang (pictured) will work closely with Macquarie Asset Management’s global network to expand the business’ wealth offering in Asia.
Chang has over two decades of wealth management experience and joins Macquarie from Lord, Abbett & Co. LLC, where he was the head of Asia for business development. In that role, he was responsible for business development, relationship management, and capital raising across Abbett & Co’s investment strategies in Asia.
Before that, Chang led JP Morgan Asset Management’s private bank distribution, covering alternatives as well as fixed income, equities, and multi-asset solutions. He has also held positions with Goldman Sachs in both the US and Asia.
Kimberly LaPointe, Macquarie Asset Management’s head of wealth, said: “We are delighted to have such a proven head of wealth distribution join our team in Asia. We are seeing significant demand from Asian wealth clients for access to alternative assets, as they seek to diversify their portfolios. David will play a key role in expanding our wealth strategies in Asia through existing and new partnerships with wealth management firms in the region.”
Macquarie Asset Management has been operating in Asia since 1995 and is active across eight Asian markets, including Hong Kong and Singapore.
It is expected that global wealth channels will contribute an increasing amount of capital towards Macquarie Asset Management’s Private Markets platforms over the coming years, according to the statement.
