US asset manager American Century Investments has hired Vicky Yick as managing director of its Asia intermediary business.
Ms. Yick, who was head of private banking at Hong Kong asset manager Value Partners since 2010, will initially help serve her new company’s private banking markets in Asia.
She is based in Hong Kong.
“We believe that high net wealth clients are expecting institutional-quality capabilities and our success in that area gives us confidence as we launch this new initiative in private banking,” Tony Archer, head of Asia business at American Century Investments, says in a statement on October 29.
The company has been largely focusing on the institutional market in the ten years it’s been present in Asia Pacific, and its Hong Kong team now serves clients in eight countries across the region, according to the statement.
Prior to her nine-year stint at Value Partners, Ms. Yick was associate director of sales, equities, and commodity derivatives at French financial services company BNP Paribas.
Private banking is one of the fastest growing financial sectors in Asia. According to Hong Kong financial publication Asian Private Banker, combined assets under management of the top 20 Asian private banks expanded at a compound annual growth rate of 6.9% between 2014 and 2018, reaching US1.63 trillion at the end of last year.
American Century Investments, based in Kansas City, currently has around $168 billion of assets under management.