Singapore-based Fullerton Fund Management has appointed James Zhang as general manager for its Shanghai-based wholly-foreign owned enterprise (WFOE), according to a statement from the firm.
He will replace Mark Li, who has left the firm to pursue other interests, the statement said.
Zhang will be responsible for managing the investment and business developments efforts of the firm. He will report to Jenny Sofian, the firm’s CEO.
Zhang was executive vice president and managing director for sales at China International Fund Management, the joint venture of JP Morgan Asset Management. Before that, he was the deputy general manager of personal finance, sales and marketing at China Construction Bank, where he was responsible for the retail sales and marketing of personal wealth management products.
In China, Fullerton has a private fund management (PFM) licence, which enables the firm to launch onshore private funds to domestic qualified investors, which include institutions and high net worth individuals. It obtained the PFM licence in 2017 and launched an onshore equity fund in 2018.
In a previous interview with Li, he said that the firm was planning to expand its PFM business and was mulling plans to obtain a qualified limited partnership (QDLP) licence, which enables foreign firms to raise money domestically to invest in offshore investments, within assigned quotas.
Fullerton is a subsidiary of Singapore government-owned Temasek.
