The move follows the Chinese regulator’s greenlight for Fidelity to launch ‘private securities funds’ through its wholly foreign-owned enterprise (WFOE) within the next six months, the first time a global asset manager has done so.
Lee joined Fidelity in 2010 and has worked in China for six years, most recently as the chief representative in the Beijing office, according to the firm’s statement. Lee has 12 years of experience in the asset management industry.
Lee “played an instrumental role in building our presence among key regulators and stakeholders in China, establishing our foundation and initiating the private fund management registration,” managing director of Asia ex-Japan Daisy Ho said in the statement.
Fidelity now has about 400 employees in China with key offices in Beijing, Shanghai and Dalian.
“We are currently building out our investment team in Shanghai. We will launch our first onshore private fund in the next six months to support Chinese institutional and high net worth investors’ needs,” Lee said in the statement.
