Posted inBusiness moves

Columbia Threadneedle hires Pinebridge as Taiwan agent

The firm will use PineBridge Investments Management as the master agent for its products in Taiwan.

PineBridge Investments will distribute Columbia Threadneedle’s 11 Taiwan-registered funds to retail investors in Taiwan. Products include global, European and US equities funds as well as fixed-income vehicles. 

According to the Credit Suisse Global Wealth Report 2014, Taiwan’s total private wealth in 2014 was $3.4trn. Around 40% of adults in Taiwan have wealth over $100,000, more than four times greater than the worldwide average of 9%.

“The Taiwan asset management industry is larger than Singapore and Hong Kong combined and continues to grow substantially in line with the increase in private wealth,” said Raymundo Yu, Asia-Pacific chairman of Columbia Threadneedle. 

In May, Columbia Threadneedle appointed Vina Cheng, former general manager of Greater China for Aviva Investors, as its Taiwan head of wholesale distribution.

Columbia Threadneedle is the global asset management arm of US financial services group Ameriprise Financial. In March, Threadneedle and its US-based affiliate Columbia Management rebranded as Columbia Threadneedle Investments.

Part of the Mark Allen Group.