Chuak Chan was named CEO of Ascalon Capital Managers, an investor in hedge fund and absolute return-focused long-only money management “partner” firms in Australia and the broader Asia-Pacific region, Mr. Chan confirmed Monday in a telephone interview.
The appointment was a promotion for Mr. Chan, who joined the Sydney-based firm in Hong Kong in July 2011 as head of Ascalon Asia to build out a broader Asian business for the firm, which had previously focused on partnerships with Australia-based firms.
Mr. Chan said he won't be replaced as head of Ascalon Asia.
Mr. Chan said he'll continue to be based in Hong Kong, while Jason Collins, head of Ascalon's Australian operations, will take on the new title of chief operating officer, reporting to Mr. Chan.
Ascalon, a wholly owned subsidiary of Westpac Banking Corp. and its BT Financial Group wealth management division, currently has nine partner firms with combined assets under management of roughly A$4 billion (US$4.2 billion), Mr. Chan said. Ascalon takes minority stakes in partner firms.