Bae was previously the firm’s head of sales and was responsible for leading the Korean institutional and mutual funds businesses, according to a statement from the firm. Wonil Kim, the firm’s head of institutional sales in Korea, will replace Bae as head of sales.
Before joining Barings in Korea in 2011, Bae worked at Hanwha Securities Company and AllianceBernstein Investment Management (Korea), according to the statement.
Bae is expected to continue to expand the firm’s market share in existing domestic products, he said in the statement. According to the firm, its assets under management from its Korea business surpassed the W10trn ($9.5bn) mark in 2016.
Separately, the firm said that in September last year, it completed the integration of Baring Asset Management, Babson Capital Management, Cornerstone Real Estate Advisers and Wood Creek Capital Management under the Barings brand.
“The combined firm offers expanded depth and breadth of expertise across global fixed income, equity, real estate and alternative asset markets,” according to the statement.
Globally, Barings managed around $284bn in client assets as of end-September last year and has 41 offices in 17 countries.