PIMCO appoints head of Hong Kong retail/Senior VP
(20 September 2016 – Asia) Swiss Global investment management firm PIMCO has hired Steve Chiu as a senior vice president and head of Hong Kong retail.
Reporting to Michael Thompson, head of global wealth management Asia ex-Japan and head of Singapore, Chiu will lead the firm in building distribution partnerships with financial intermediaries in Hong Kong, with a particular focus on retail banks, insurance companies and independent financial advisors.
“Steve brings over 25 years of wealth- and asset-management experience to our business. His hiring underscores our commitment to growing this segment in the region and in Hong Kong. We are committed to bringing the best resources across the firm to deepen our engagement with these partners in delivering our industry-leading investment solutions and client servicing,” said Thompson.
In a statement from the firm, Chiu added: “I am thrilled to join the growing PIMCO wealth-management team. I am keen to work with our financial intermediary partners in capturing the significant opportunities in the retail space and support them in meeting the unique investment needs of their clients.”
In a bid to capture the rapid private-wealth growth in Asia (ex-Japan), PIMCO has been increasing resources within the wealth-management business.
The company also hired Stacie Wang as head of China, global wealth management. She joined PIMCO in August and tasked to build partnerships with intermediaries in China, with a strategic focus on private banks, retail banks, domestic asset managers, wealth-management platforms, financial advisors and family offices.
In addition, PIMCO’s existing Asia ex-Japan global wealth management business team heads have assumed dedicated channel responsibilities in order to systemically prospect and develop the opportunities available. These include Todd Staley leading the family office sub-channel, Henry Chui on private banks North Asia, and Freida Tay on Singapore retail.
Subscribe