* plans to set up new offices in Japan and Taiwan
* to focus initially on distribution, marketing
SINGAPORE, Nov 16 - British fund manager Threadneedle plans to double its staff in Asia and open new offices in Japan and Taiwan as part of efforts to grow its regional presence, newly appointed Asia-Pacific chairman Raymundo Yu said on Tuesday.
"The first stage will involve distribution and marketing, then analysis, then investment management," said Yu, who was chairman for the Asia-Pacific region at Merrill Lynch from July 2000 until his retirement in December 2008.
Threadneedle is expanding into a fast-growing Asian region that is already home to global players such as Blackrock and
Fidelity as well as large homegrown asset managers such as South Korea's
Mirae and Australia's AMP .
Japan's Nikko Asset, which is keen to grow its non-Japan Asian business, on Tuesday announced the purchase of Australia's Tyndall Investments in a deal worth A$128.5 million. [ID:nSDYFME6BR]
Yu, 55, told Reuters the new offices in Japan and Taiwan would help complement Threadneedle's existing operations in Hong Kong and Singapore and double staffing to around 30 from 15 in the next 12 months.
Threadneedle, which manages around $100 billion in assets, is a unit of U.S. financial services firm Ameriprise Financial.
Ameriprise also owns U.S.-based Columbia, which has about $350 billion.
The Threadneedle operations in Asia will market Columbia's asset management services.
- wong chee tat :)
* to focus initially on distribution, marketing
SINGAPORE, Nov 16 - British fund manager Threadneedle plans to double its staff in Asia and open new offices in Japan and Taiwan as part of efforts to grow its regional presence, newly appointed Asia-Pacific chairman Raymundo Yu said on Tuesday.
"The first stage will involve distribution and marketing, then analysis, then investment management," said Yu, who was chairman for the Asia-Pacific region at Merrill Lynch from July 2000 until his retirement in December 2008.
Threadneedle is expanding into a fast-growing Asian region that is already home to global players such as Blackrock
Japan's Nikko Asset, which is keen to grow its non-Japan Asian business, on Tuesday announced the purchase of Australia's Tyndall Investments in a deal worth A$128.5 million. [ID:nSDYFME6BR]
Yu, 55, told Reuters the new offices in Japan and Taiwan would help complement Threadneedle's existing operations in Hong Kong and Singapore and double staffing to around 30 from 15 in the next 12 months.
Threadneedle, which manages around $100 billion in assets, is a unit of U.S. financial services firm Ameriprise Financial
The Threadneedle operations in Asia will market Columbia's asset management services.
- wong chee tat :)
