JPM AM exec to head mainland venture CIFM

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Eddy Wong was appointed as CEO of China International Fund Management, a mainland joint venture between JP Morgan Asset Management and Shanghai International Trust.

Wong’s appointment is effective immediately. He succeeds Eddie Chang who is retiring after about 10 years as head of CIFM.

His priorities include the expansion of CIFM’s product range and developing talent.

Previously, Wong  was chairman and CEO of JPM AM’s Taiwan business, responsible for strategic development and overall management.

Prior to that, he was head of Hong Kong & China Funds for JPM AM, based in Hong Kong. In that capacity, Wong oversaw business strategy and contributed to the development of investment products under the Mainland – Hong Kong Mutual Recognition of Funds (MRF)  scheme.

“Eddy Wong has been a strong, focused leader at JPM AM during periods of significant company growth as well as periods of market uncertainty. With his extensive expertise across Greater China markets and relentless focus on serving clients, he is well positioned to provide strategic guidance,” said Dan Watkins, CEO of Asia Pacific for JPM AM.

CIFM will be the mainland distributor for JP Morgan’s funds offered through the MRF. The firm also manages three southbound funds.

CIFM is a joint venture between JPM AM and Shanghai International Trust (SITCO). The US asset manager aims to buy a majority stake in the joint venture after China relaxed foreign ownership requirements last year.

At the end of 2018, CIFM reported about RMB160bn ($23bn) in client assets under management.

JPM AM also runs a WFOE structure in China.

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