Legal & General Investment Management launches in Asia Pacific
26 July 2013
News, Asia, Hong Kong
By Toby Garrod
Legal & General Investment Management (LGIM) announced on July 25 that it has extended its strategy of international expansion with the launch of its business in the Asia Pacific region, headquartered in Hong Kong.
Led by Alan Flynn, head of Asia Pacific, LGIM will provide index and fixed income solutions to large institutional clients across the region. John Bridges, who has relocated to Hong Kong, will take up the role of head of operations.
Mike Craston, LGIM’s managing director global institutional business, said: “I am delighted to announce the launch of LGIM’s Asia Pacific business. International expansion is a strategic objective for us, and Asia is a major element in that strategy. As Asian sovereign wealth and national funds continue to seek diversification and place larger allocations overseas, they are increasingly turning to specialist managers with the track record and scale of firms such as LGIM to provide investment solutions.”
Alan Flynn, head of Asia Pacific, said: “LGIM has an exceptional reputation among institutional clients across Europe, the Middle East and the US, and I now see an exciting opportunity to develop a sustainable business in the Asia Pacific region. Our initial focus will be the provision of our market-leading Fixed Income and Index capabilities, with further expansion driven by our focus on meeting and exceeding client needs.”
International expansion has been a key factor in LGIM’s recent successes. By focusing on the needs of local investors, LGIM has established a significant presence in the US, Europe and Gulf. Net inflows from international clients increased by 73% in 2012 compared to 2011, and assets under management increased from US$49 billion to $66 billion.
The firm has appointed Janice Wu as head of Asia Pacific sales and distribution. She has 20 years’ experience in institutional sales and marketing across Asia Pacific, spanning a number of leading institutions including BNP Paribas and most recently State Street Global Advisers, where she was a managing director of the firm’s South Asia business and head of relationship management for Asia ex-Japan.
Mr. Flynn commented: “Janice has an impressive track record in client relationship management across Asia Pacific. LGIM’s success is built on tailoring high quality services and solutions to suit clients’ requirements and Janice entirely subscribes to this philosophy. With her clear understanding of institutions’ needs across Asia Pacific, she joins our growing team to lead our regional marketing activity.”
Ms. Wu said: “Demand for quality index and global fixed income investment solutions is growing exponentially across the region, as institutions broaden their investment horizons and diversify asset allocation. Institutional investors in the region are increasingly seeking products offering service quality, scale and performance which LGIM is exceptionally well placed to deliver.”
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