MONEY MANAGEMENT

Brandywine Global promotes business development head in Asia to CEO

Tariq Ahmad, Singapore-based head of business development and client service for Brandywine Global Investment Management (Asia), was named CEO as well for the Philadelphia-based firm’s business in Asia.

Mr. Ahmad replaces John Tsao. Mr. Ahmad said in a telephone interview that Mr. Tsao will take on an investment research role. His exact title has yet to be determined.

Mr. Ahmad said he’s looking to build on the success Brandywine enjoyed under Mr. Tsao, which saw asset managed for Asia-Pacific-based clients grow to $15.4 billion since it entered Asia in 2003, or more than 20% of the firm’s total AUM of $69.5 billion as of March 31.

With much of those assets raised from large institutional investors, including sovereign wealth funds, public pension funds and central banks, Mr. Ahmad said he’ll be looking to reach out to midtier pension funds and extend the firm’s geographic reach in Southeast Asian markets such as Malaysia, Thailand and Indonesia.