ING taps Eastspring’s Goyal for top emerging market equity job

21 August 2014   Category: News, Asia, Global, Singapore, Europe, Netherlands   By Daniel Shane

ING Investment Management International (ING IM), the Netherlands-based asset manager with US$242 billion in AUM, has appointed former Eastspring Investments executive Ashish Goyal to run its emerging market equity capabilities.

Mr. Goyal, who will start in Singapore on October 1, was most recently chief investment officer, Asia equity, at Eastspring, and has held a number of senior investment roles throughout his 20-year asset management career.

He will report to Eric Siegloff, deputy chief investment officer, ING IM. A spokesperson for ING IM told Asia Asset Management that Mr. Goyal’s role was a newly-created one, which came amid a broader restructuring of the firm’s emerging market equity operation.

“Ashish brings a wealth of experience in emerging market equity to the company. In the course of his career he has been instrumental in building and managing teams with a cultural emphasis on disciplined investment process, risk management and innovation,” commented Mr. Siegloff, in a statement.

At the same time, ING IM announced the appointment of Griffin Capital Management’s Robert Holmes as senior portfolio manager, emerging market equity. Mr. Holmes has worked as a specialist fund manager in EMEA for the past decade, and has more than 20 years of experience in the emerging market equity field. He will start with ING IM in London in September, and will report to Mr. Goyal.

Over the last two years, ING IM has undergone a significant restructuring of its asset management business in Asia. Its South Korean arm was sold to Australia’s Macquarie Group in 2013, while a 70% stake in its Malaysia unit was acquired by Kenanga Holdings Berhad in the same year. Its Taiwanese asset management operations were earlier this year sold to Japan’s Nomura Asset Management in partnership with a group of investors.