Carol Wong, the former Asia head of Old Mutual Global Investors (OMGI) has joined Ping An Asset Management in Hong Kong, as part of the Chinese firm’s international buildout.
Carol Wong started in September as managing director for institutional business development at the firm, which is the fund management arm of China’s second largest insurer by assets, Ping An, specialised outlet Asian Investor reports.
Wong’s regulatory licence for Ping An AM became effective on October 4, according to Securities and Futures Commission records. She will be managing relationships with institutions in the region, as well as with private banks and family offices, according to the news site.
Wong had overseen sales for Asia at OMGI but left the UK firm – which was renamed Merian Global Investors this month – in July, amid cutbacks it made in the region earlier this year. She had joined in November 2013 and before that had worked at BNP Paribas Asset Management.
Ping An has arrived squarely in Asean and is looking to expand through banks in this part of the world, with the Chinese behemoth already speaking to about 30 top lenders in the region to sell its technology expertise, a top executive told Singapore’s Business Times.
Over the past two years Ping An has been building its international asset exposure and growing the client base of its asset management arm outside its domestic market and has been aggressively expanding its investment capabilities in Hong Kong.