OMGI ramp up Asian distribution expansion
Old Mutual Global Investors (OMGI) has added to its growing Asian presence with appointment of a new head of China business.
OMGI, the asset management division within Old Mutual Wealth, announced in a statement earlier today that Richard Mo has joined the firm in the newly-created position of head of China business. Mo joined the firm yesterday and will be based in OMGI’s Hong Kong office.
In this new role he will develop relationships with regulators, global financial institutions and distributors in the region. Mo’s appointment comes just a matter of weeks after OMGI announced the appointment of Gerard Clancy as head of sales, South East Asia, as reported. Clancy also joined OMGI in a freshly-created role and is operating from the firm’s Singapore base.
Mo joins from JP Morgan Asset Management, after spending 16 years at the firm during which time he has held a number of positions in a distribution capacity, as well as building client relationships across Taiwan, Hong Kong and China. His last role, as head of China retail business, saw him responsible for wealth management and client development in retail markets in China, dealing with both Chinese and foreign banks. He was also a member of the JP Morgan Asset Management China executive committee.
‘Routes into China’
Mo will report into Carol Wong, managing director, Asia Pacific at OMGI. Wong said that he was pleased to see OMGI’s presence in the region expanding “with great zeal” and welcomed Mo to the firm.
“The deregulation of capital control by the Chinese government has begun to open routes in China; this is a significant opportunity for us to work with professional investors in the world’s second largest economy,” said Wong.