Capital Group's head of business development for Asia departs

Andrew Economos, who joined Capital Group as senior vice president, strategic solutions in May 2014 to head the firm's business development efforts in the Asia-Pacific region, left the company earlier this month “for personal reasons,” said Michelle Han, Capital's Singapore-based head of marketing, Asia.

At a press briefing Friday on Capital Group's fixed-income business in the region, Ms. Han said a decision has yet to be made regarding whether to focus on internal candidates to fill the position, or external candidates as well.

Mr. Economos couldn't immediately be reached for comment.

Capital Group was managing roughly $14 billion as of Sept. 30 for clients and investors based in the Asia-Pacific region — just more than 1% of the firm's global assets under management of $1.3 trillion, according to materials distributed at the press briefing.

In mid-2014, the firm had been managing roughly $16 billion for Asia-Pacific clients and investors.