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Pinebridge names new APAC CEO

The firm’s AUM sourced from Asia-based clients accounts for around 55% of total assets.

Pinebridge Investments has appointed Anthony Fasso as Asia-Pacific CEO, according to a statement from the firm.

Fasso replaced Rajeev Mittal, who has been Pinebridge’s Asia-Pacific CEO for seven years and left the firm in December to join Fidelity as the firm’s managing director for Asia-Pacific.

Based in Hong Kong, Fasso will be responsible for developing and managing Pinebridge’s distribution strategy across both institutional and intermediary channels, according to the statement. He will report to Greg Ehret, Pinebridge’s CEO.

Although Pinebridge is a US-headquartered firm, assets sourced from Asia-based clients account for around 55% of the firm’s AUM, according to its website. As of the end of 2018, AUM sourced from Asia amounted to $50bn, while assets from the Americas totalled $25.2bn and Europe, Africa and the Middle East (EMEA) $14.4bn.

Pinebridge has 10 offices across Asia-Pacific, with Hong Kong as its regional headquarters.

Fasso previously spent eight years as Hong Kong-based CEO for international business and head of global clients division at Australia-headquartered AMP Capital Investors, according to the statement.

However, In March 2017, he stepped down from his Hong Kong-based role and went back to Melbourne, but retained his portfolio strategy responsibilities with the firm, according to an AMP Capital statement at the time.

Later that year, Fasso left the firm, according to a source familiar with the matter.

AMP Capital manages around A$187.7bn ($133.48bn) in assets globally, according to its website.

Before AMP Capital, Fasso was the Asia-Pacific CEO for Axa Rosenberg Asia-Pacific and Axa Investment Managers, according to the Pinebridge statement.

Part of the Mark Allen Group.