Posted inBusiness moves

Standard Life Investments sets up new office in HK

Standard Life Investments has set up a new office in Hong Kong as part of its on-going Asian expansion plan and in order to make the region its Asia Pacific hub.

Colin Clark, executive director of the board and head of global client group said the company has “ambitious plans” to develop Hong Kong as its Asia Pacific hub, supporting the firm’s offices in China, Korea, and Australasia, as well as activity in other key markets including Taiwan, Singapore and South East Asia.

The new office is located at the LHT Tower, 31 Queen’s Road, Central, Hong Kong.

David Peng, head of Asia, said the asset manager is witnessing “increasing interest in a range of our investment solutions”.

“Our Asia expansion will focus on serving institutional investors and fund distributors, as well a sub-advisory service, by providing access to our proven and innovative investment products and solutions,” Peng added.

Standard Life has been boosting its team size by appointing Allen Wang as head of Asia institutional business in January followed by naming Virginia Devereux Wong as head of Asia wholesale business in September.

The Edinburgh-headquartered fund house had assets under management worth £179.6bn ($286bn, HK$ 2,255bn) as of September-end.;

It also has offices in Boston, London, Beijing, Montreal, Sydney, Dublin, Paris and Seoul, and has tie-ups with leading domestic players in Asia, including HFDC Asset Management in India and Sumitomo Mitsui Trust Bank in Japan.

Part of the Mark Allen Group.